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Regional Growth Bringing in New Money

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RALEIGH — New roads are one sign of the growthwe're seeing all over this part of the state. Another is the number of new homes going up every day. They're popping up everywhere, and that'sbringing a lot of money into the area -- billions of dollars everyyear.

Last year more than 9,000 new homes were built in Wake, Durham andOrange counties. According to Economist Dr. Michael Walden, while somecomplain it's too much to fast, a new study shows everyone is benefitingfrom the building boom.

Dr. Walden's report shows that every 100 homes built results in$14.3 million in new regional income, 224 new jobs and $488,000 in newlocal tax revenues. Homebuilders Association President Jeff Fike says the organization asked Walden to do the report in hopes of silencingcritics.

Fike says the report proves that construction more than pays foritself. Walden says new construction stimulates other industries when thenew homeowners start spending

Walden is conducting part two of this report that will be released inFebruary. He'll look at the impact that new home construction has onschools.

Reporter:Wisdom Martin

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