Prescott Valley Economic Update - October 2016
In 2016, Prescott Valley is putting the effects of the Great Recession behind us. Single family residential building permits have reached a robust and sustainable level that is projected to continue to grow year over year, new retail stores have opened and continue to locate in Town, employers are expanding their operations and town government has restored the services that were reduced during the lean years.
Retail sales within the town have experienced 6 straight years of record sales and growth with the 2016-2017 fiscal year expected to follow that trend. Over the past 2 years, retail stores such as Ross Dress for Less, Sprouts Farmers Market, TJ Maxx, Goodwill superstore, and Ulta Beauty have opened their doors in Prescott Valley. Store openings are expected to continue over the next 12 to 18 months.
Health care continues to be a strong driver of the local economy as Yavapai Regional Medical Center's East Campus continues to add services. By far, the facility is the town's largest private employer with almost 500 employees. Mountain Valley Regional Rehabilitation Hospital continues to operate at near capacity and has provided about 210 jobs in the community.
The housing industry is back on its feet as new single-family housing starts climb each month and the manufacturing sector saw Superior Industries complete its second expansion in less than 6 years. They now employ over 100 people.
NAU-Yavapai, a collaboration between Northern Arizona University and Yavapai College, continues to attract more and more students and the 2 colleges are working toward the creation of a downtown campus.