MUMBLINGS June 15, 2006

Any time I need something to discuss in this column, all I have to do is think about our county’s economic growth and expansions. Baldwin has a lot of stories.

Recently it was mentioned here that bank deposits in the county in the last three years had grown over $1 billion from $1,902 ,794,555. to $3,099,617,000. Naturally, money and real estate are important factors in the development of almost anything, particularly, an area like Baldwin.

We are getting accustomed to fast growth in Baldwin, but I feel confident that most of us are astounded over the fact the real estate values over the last 17 years have increased 664%. In 1988, the Baldwin assessments amounted to $530,638,320.00 and are now $4,051,195,419.00.

Of course the fastest growth has been in the area of the Eastern Shore, Daphne, Spanish Fort and Fairhope on around to Foley, Gulf Shores, Orange Beach, Lillian, etc. Even so, the rest of the county has also shown substantial growth, which continues to increase.

Bank deposits, real estate values increasing along with populations go hand in hand.

Look at some population growth figures: in 1970 the number of people in Baldwin was 58,193. This grew in to the census of 1980 to 78,440.

During the next 20 years, the population almost doubled and in 2000 the census showed the number of people in the county to be 140,450. It was predicted here a few years ago that if this rate of growth continued, by the census of 2010, Baldwin would either be at or approaching 200,000 people.

Now, back to the value of real estate. The following information was courtesly furnished by Phil Nix, Baldwin County Revenue Commissioner.

For example: assuming the assessed values of our county real estate is what it is, $4,051,195,419.00 and this is only about ten percent of the real value, you can easily figure that the real value of our real estate, which includes timber land, farm land, houses, businesses, etc., would be in the neighborhood of $40 to $45 billion. Actually, at present prices, I would guess this is a very low figure.

The most astounding real estate growth of any city has been Orange Beach. It grew from $42,146,020.00 in 1988 to $1,095,118,019.00 in 2005 for an increase of $1,052,971,999.00 or 2499%.

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Continued

Following is a list of the other cities in the county giving the 1988 figures and comparing them with 2005, giving you the actual figures plus the percentage of growth. Hopefully, you’ll be interested in this information.

Bay Minette: The 2005 amount is $79,997,700.00 up $57,730,008.00 or 260% from the1988 figure of $22,267,620.00.

Daphne: The 2005 amount is $243,065,820.00 up $225,762,340.00 or 1305 % from the 1988 amount of $17,303,480.00.

Elberta: The 2005 figure is $13,204,440.00 up $12,112,260 or 1109% from the 1988 amount of $1,092,180.00.

Fairhope: The 2005 figure is $226,034,480.00 up $192,942,240.00 or 583% from the 1988 amount of $33,092,240.00.

Foley: The 2005 figure is $188,560,180,00 up $167, 598,540.00 or 800% from the 1988 amount of $20,961,640.00.

Gulf Shores: The 2005 figure is $742,842,580.00 up 657,925,300.00 or 775% from the 1988 figure of $84,917,280.00.

Loxley: The 2005 figure is $37,582,300.00 up $34,342,360.00 or 1060% from the 1988 figure of $3,239,940.00.

Robertsdale: The 2005 figure is $42,279,260,00 up $34,411,300.00 or 438% from the 1988 figure of $7,867,960.00.or

Silverhill: The 2005 figure is $5,505,240.00 up $4,481,380.00 or 538% from the 1988 amount of $1,023,860.00.

Summerdale: The 2005 figure is $14,075,400.00 up $12,543,440.00 or 919% from the 1988 amount of $1,531,960.00.

Orange Beach: The 2005 figure is $1,095,118,019.00 up $1,052,971,999.00 or 2499% from the 1988 figure of $42,146,020.00.

Spanish Fort was incorporated within the last few years with 2001 being their first assessment year. The 2005 figure is $55,481,600.00 up $14,272,560.00 or 35% from the 2001 figure of $41,209,040.00.

See you again soon, I hope.