Job Gains, Increased Property Values Ahead for Marin in 2014, According to New Report

Marin County is expected to add some 2,000 new jobs next year and get a $400,000 million boost in sales tax receipts, according to a new report from the Marin Economic Forum released this week.

The county has made big progress coming out of the recession, adding 2,700 jobs this yea, the study found. That will slow somewhat in 2014, although real personal incomes will continue rising faster than expected. 

"Marin’s employment and housing indicators demonstrate that 2013 has been a strong year for Marin County’s economy," wrote the report's authors. "With continued strong demand in the housing market, fewer commercial vacancies, and stable office leasing rates going into 2014, the prospects for continued positive momentum are good."

Marin Economic Forum is a nonprofit that aims to boost investment in the local economy. 

More jobs means more money in people's pockets, and with that in mind, the per capita income is expected to rise from $80,670 this year to $85,369 in 2015, MEF predicts. 

Perhaps not surprisingly, home values will continue to soar, rising from $846,000 this year to $1,060,000 in 2015 the study predicts. Taxable sales are anticipated to increase from about $4 billion to about $4.4 billion.

Like many Bay Area’s economies, Marin’s current growth is seen more in services than in other sectors, such as manufacturing. Construction employment has picked up a little bit with more new jobs created by an increase in remodeling and renovation activities and not in new construction. 

Click here to see the full report