In the first quarter of 2024, Teton County experienced a significant slowdown in building permit issuance compared to the previous year, with only about 80 permits issued compared to 215 around the same time last year, as reported by Chris Neubecker, the county’s director of planning and building. Despite this slowdown in permit volume, building inspectors remain busy with the construction of large homes initiated in the past two years. The process for approving permits has become more efficient, with the approval time for single-family homes now around three months, an improvement from the previous four months. A 2022 indicator report highlights a shift in residential building activity from the county to the town of Jackson, aligning with a 2012 comprehensive plan to direct growth towards areas with better infrastructure. Over the past two decades, the construction of residential units in Jackson has averaged about 150 per year, with a notable increase in 2021. The town staff report notes a lengthening in building timelines across all permit types, attributing it to a shortage of construction labor rather than a lack of demand or zoning restrictions. It also observes that the construction sector's financial health is more closely linked to the community's increasing wealth and the consequent rise in construction-generated sales tax revenue than to the volume of permits. This wealth-driven growth leads to a higher cost per square foot, boosting building sales tax revenue, which is vital for the town's financial needs, contrasting with Teton County's reliance on property taxes. This overview suggests that while permit issuance has decelerated, the construction industry's dynamics are influenced by labor availability and the economic prosperity of the region.
Read more at Jackson Hole News & Guide here: https://www.jhnewsandguide.com/news/town_county/local/building-permits-see-slowdown/article_7cba0d72-edfc-11ee-87cd-4f74a3496a59.html
