By Nick Georgandis R Managing Editor KATY TIMES
Monday, January 15, 2007 12:26 PM CST

Business is booming in Katy according to published reports, and the real estate market in Cinco Ranch is following suit.

At the Tuesday morning meeting of the Katy Economic Development Committee, KAEDC president Lance LeCour announced that according to new demographics, Katy had an economy of $10.5 billion in sales for 2006.

“There are 6,542 establishments that employ 85,631 people in the KISDarea, “LeCour said.

Of those, retail accounts for 20,000 jobs and some $2.6 billion in sales. Wholesale trade accounts for 11,600 jobs and $2.1 bilion in sales with engineering, accounting and research third at 6,300 employees and $788 million in sales.

In accordance with the booming business, house sales in the Cinco Ranch community vaulted 29 percent last year, with 942 home sales in the 2006 calendar year, up more than 200 from the 727 in 2005.

At 7,400 acres, Cinco Ranch is now the largest of the six Houston-area communities developed by Newland Communities and is the company’s largest gainer in sales in the area.

“Headlines talk about a national housing slump, but we are seeing a contrary story here in Texas, and in Houston in particular,” Ted Nelson, Texas Division President for Newland Communities, said in a press release.

“Texas grew more than any other state in 2006, adding 580,000 to its population, and this is expected to be a long-term trend. Houston added 75,000 new jobs in 2006, helping to create conditions that are very conducive to new-home sales.”

Nelson said that a major broadening of new-home offerings in Cinco Ranch also had a very positive impact on the community’s 2006 sales results.

Cinco Ranch offers new homes priced from the $170,000s to more than $1 million.

In 2006, the community opened many new neighborhoods, debuting 20 new model homes throughout the year. Cinco Ranch also increased its lineup of homebuilders in 2006, adding new builders including Beazer Homes, Chesmar Homes, Highland Homes, Ryland Homes and Trendmaker Homes to its lineup.