ANNISTON REPORTS STRONG ECONOMIC GROWTH IN FY24
Anniston- The City of Anniston is pleased to report substantial economic progress for Fiscal Year 2024, driven by significant increases in business activity, construction investment, and municipal revenue. The latest data represents some of the strongest year-over-year growth seen in recent years and reflects a broader trend of sustained economic resilience and expansion within the city.
Business License Growth Signals Economic Confidence
Business license issuance rose sharply in FY2024, increasing by 61.35% over the previous year. A total of 618 licenses were issued, up from 383 in 2023. This marks a notable acceleration in entrepreneurial activity and reflects heightened confidence in Anniston’s local economy. Since 2020, the number of business licenses has increased by 291.14%, more than tripling over a four-year span. This trend underscores the city’s increasing attractiveness to small businesses, start-ups, and new market entrants.
Construction Investment Reaches New High
Construction investment in Anniston reached a record-setting $57.24 million in FY2024, up from $41.11 million in FY2023—a 39.27% year-over-year increase. This is the highest single-year gain on record and reflects strong development activity in both the residential and commercial sectors.
Compared to 2020, when construction investment totaled $14.49 million, the FY2024 figure represents a 295% increase. This sustained growth highlights the city’s strategic focus on development, infrastructure, and permitting efficiency.
Municipal Revenues Reflect Long-Term Fiscal Strength
Anniston’s financial indicators continue to trend upward, reflecting a stable and growing fiscal foundation:
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General Fund Revenues have grown over 32% since FY2015. This long-term growth trend demonstrates prudent fiscal management and increased capacity for public services and investment.
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Sales Tax Revenues have increased by 38.14% over the same period, rising from $20.4 million in FY2015 to $28.18 million in FY2024. Even in the most recent year, sales tax revenue rose by 0.99%, signaling continued economic activity and consumer confidence.
Strategic Outlook
The data presented reflects more than isolated gains—it speaks to the strength of Anniston’s strategic planning, business environment, and infrastructure investment. Anniston Mayor Ciara Smith stated, “The economic data from Fiscal Year 2024 paints a clear and encouraging picture: Anniston is growing—and not by chance, but by intention. The significant increases we’re seeing in business license registrations, construction investment, and municipal revenues are not only unprecedented in recent years—they are the direct result of our community’s resilience, our administration’s focus on fiscal stewardship, and the entrepreneurial spirit that defines Anniston.“
To view the full FY24 economic infographic with all charts, visit: https://tinyurl.com/2zjvskve.
