Wichita, KS Business Update

August 27, 2009

Wichita Aquifer Project:

Wichita, KS is making sure it's water supply stay available for future growth by taking excess water from the Arkansas river, filtering it and pumping it back into the Equus beds aquifer to create plenty of product through 2050.  The cost of the project will be around $400 million.

NCAA scouting out Wichita:

The NCAA is in town checking out the new 15,000 seat Intrust arena in Downtown Wichita.  Wichita has bid on tournament games for 2011, 2012 and 2013.  NCAA official are checking out the arena, parking, hotels and other services for future events.  It has been fifteen years since Wichita hosted a post season NCAA men's basketball game.

Wichita rated top 10 City in finding jobs:

U.S. News and World report rated Wichita one of the top ten cities in finding a job.  Even though the unemployment rate has reached 10+% in the last few months the stable housing market, health care sector and U.S. Air Force base expansion justified the ranking.  The downturn in the aviation sector was noted but the potential for a strong recovery signaled strong growth for the city and future jobs.

Wichita Real estate prices Stable.

Wichita home prices for the 1^st half of 2009 were stable and slightly higher than the year before.  Even though there were 25% less sales in the 1^st half of 2009, Wichita was able to remain one of the few areas in country with out declining prices.  While other markets went up 15% a year in values in previous years, Wichita's values raised 2-4%.  When the down turn hit the national price index fell almost 35% while Wichita still maintained a positive number.