State of the City Address
Exerpts from the State of the City Address 2007
by the Mayor of Renton:
1. We’ve kept the city on sound economic footing.
In just a few years we’ve gone from fiscal challenges to the highest
budget in history. As a result, our bond rating improved from A+ to AA-,
which lowers our cost when we sell bonds or borrow money.
2. Renton’s taxable retail sales increased by almost
10 percent in 2006 and is expected to increase another 7.5 percent is 2007.
At this rate of growth, Renton will surpass King County’s taxable retail
sales receipts in the next few years. One of the remarkable characteristics
of the Renton economy is the sustained and relatively strong growth in population.
3. For the second consecutive year, the 737 program achieved a record with
net orders of 729 airplanes. The previous record for the 737 program was
569 in 2005.
4. For the next few years, the rate of increase in Renton
jobs is expected to be 1.5 times that of King County. Home sales are also
expected to increase in 2008.
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