Past decade sees Augusta purchasing power grow

Like everywhere else, the metro Augusta area has its economic disparities.

We have rich people. We have poor people. And we have a bunch of folks in between.

We have people who work with their hands. We have people who work with their noggins. And we have some people whose posteriors never leave a sofa.

But one thing in our favor – one thing that cuts across all demographics – is a relatively low cost of living.

Gasoline, for example, is famously affordable in metro Augusta (currently 19 cents to 27 cents below the national average, depending on which filling station you choose). You'll pay those low prices whether you're a meteorologist or a meter reader. Likewise, doctors pay the same for a dozen doughnuts as deputy sheriffs. A home that consumes 1,000 kilowatts of electricity will generate the same power bill whether its occupant is a paramedic or a paralegal.

Yes, some have more dollars than others – neurologists earn more than a nannies and network administrators earn more than newspaper reporters – but the point is, each individual dollar holds the same purchasing power within the market.

And in this market, those dollars have a lot of power. In fact, Augusta's purchasing power during the past decade outpaced several other Georgia markets – including Atlanta – according to financial-tech firm SmartAsset.

The company's recently released cost-of-living analysis shows Augusta's purchasing power grew 5.8 percent between 2007 and 2017, placing it third behind Savannah, at 11.6 percent; and Marietta, at 6.4 percent.

SmartAsset says Georgia's average gain was 3.8 percent, which I suppose makes Atlanta the bruised peach in the bushel – people there saw purchasing power decrease 6.6 percent during the same 10-year period.

Now, before you start chanting "nyah nyah nyah nyah nyah nyah," keep in mind this report doesn't say Augusta is wealthier than Atlanta (which it clearly isn't), it simply says Augusta's cost of living is better and more stable.

That is borne out by Augusta's 2.2 percent gain in average personal income, which more than offsets its 1.6 percent increase in average living costs. Atlanta's numbers – a 1.4 percent gain in average income against a 2.1 percent cost-of-living increase – are essentially flip-flopped.

The Georgia city at the top of the purchasing power list, Savannah, saw its average personal income grow 11.6 percent while experiencing price inflation of just 0.4 percent.

In other words, SmartAsset says the average person's dollar stretches further in Augusta than in Atlanta, but not as far as the average person's dollar in Savannah.

Obviously, this is one of those scenarios where it pays to be "above average," because high-income earners can live fairly high on the hog in Augusta.

This isn't exactly news for longtime locals. In the 20-plus years I've lived here, metro Augusta's cost-of-living index has not once risen above the national average. And I suspect that was the case for many years before my arrival.

If you're nerdy about economic data, go to the Federal Reserve Bank of St. Louis' "GeoFred" site and take a look at its cost-of-living index map, which is loaded with interactive data from 2008 to 2016.

The latest cost-of-living index for Augusta-Aiken is 88.3, compared to 100 as the national average. That's another way of saying it takes only 88 cents to purchase something in Augusta that normally costs $1 everywhere else. In metro Atlanta, you would spend 96 cents. In Houston, you would spend $1.01.

Here are a few other cities: In Miami, $1.07; Los Angeles, $1.17; the D.C. metro area, $1.19; New York, $1.22; San Francisco, $1.24; and San Jose, Calif., aka "Silicon Valley," $1.27.

As I mentioned earlier, it pays to be well-paid here. Especially if you've moved here from a high-cost part of the country.

If you ever find yourself cruising past subdivision after subdivision of half-million-dollar homes and say to yourself, "Who are all these people? And where are they coming from?" don't worry – you're not crazy. You're probably just average. Like me.

The upside is that Augusta is a pretty comfortable place for us middle-of-the-roaders. That's why I've never left.

Try being "average" in San Jose – you'd probably have to look under couch cushions for gas money.

SPEAKING OF GAS MONEY: Did you know Americans are more concerned about paying for gasoline than paying for health care?

GasBuddy's newly released Consumer Sentiment on Gasoline Study says Americans – regardless of age or income bracket – rank gas ahead of medical expenses and their personal savings when doing their household budgeting.

Other key findings: 86 percent of those surveyed say gas is crucial to their everyday lives; 40 percent say gas prices "affect their mood"; and 63 percent say they believe gas costs are too high (even though prices are at the lowest levels since summer 2017).

WHAT'S IN YOUR TANK?: Inland Waste Solutions, the city of Augusta's trash hauler, said it will roll out three compressed natural gas-powered trucks in the next few weeks. The Sarasota, Fla.-based company said the vehicles represent a $1.1 million investment.

“Service reliability begins with the best people in the best equipment," Inland Waste's Augusta General Manager Rob McClellan said in a statement. "This significant capital investment into clean-burning CNG trucks keeps us in a leadership position in Augusta/Richmond County and surrounding areas.”

MEANWHILE, AT THE LANDFILL...: Natural gas-powered trash trucks are nifty, but I'm more excited about the proposed 55,000-square-foot "waste-to-energy" plant at the the city landfill in south Augusta. Of course, I'll be even more excited if the plant is actually built.

You may recall Conyers, Ga.-based Allied Energy Services said last year it would develop a $38 million facility capable of recycling up to 175,000 tons of trash a year into pinkie-sized pellets that can be burned as biomass fuel or converted into engineered building materials, such as flooring and paneling.

Last spring, the Augusta Economic Development Authority gave the company a green light to seek up to $68 million in bond financing for the project, which reportedly would create about 85 jobs.

All that's missing is, well, the facility.

Allied's environmental permits were approved in the fall and a 10-acre site on the landfill's northwest corner is ready and waiting for the first-of-its-kind facility in Georgia. The company said the project was to be up and running early this year, but so far, the city's solid waste is still going to the same place it always has – down a hole.

WHEEL DONE: Bridgestone Americas Inc.'s passenger- and light-truck radial tire plant in Aiken County was recently recognized by South Carolina environmental officials for being "landfill-free" since 2012.

In 2018 alone, the tire plant recycled more than 450 tons of metal, 222 tons of cardboard, 385 tons of plastic and two tons of paper, earning it kudos from the S.C. Department of Health and Environmental Control's "Smart Business Recycling Program."

“We are proud of our employees’ commitment to serving society by balancing business operations with environmental stewardship," Plant Manager Vergil Norrod said in a news release.

By the way, the factory celebrated its 20th anniversary last year. The company also operates an off-road tire plant in Trenton, S.C. Both facilities are in the South Carolina Environmental Excellence Program.

HIGHER VOLTAGE?: Birmingham, Ala.-based wholesale distributor Mayer, formerly known as Mayer Electric Supply, appears to be expanding its local footprint.

The company is developing an 18,000-square-foot building at 1870 Wylds Road to replace the 11,200-square-foot office/warehouse facility it leases on Augusta West Parkway, according to construction plans advertised through a bidding service.

A spokeswoman for the privately held company, which was founded in 1930 and operates in 14 states, declined to comment on the project.

Richmond County property records show Mayer acquired the two-acre parcel at the corner of Wylds and North Leg roads over the summer for $225,000. The space Mayer currently uses was formerly occupied by Griffin Pools & Spas.

WHO OWNS THIS JOINT?: Chiropractor Dan Jolich, owner of Aiken Chiropractic and Grovetown Accident Rehab, has bought into The Joint, a chiropractic franchise with 460 offices nationwide.

His new storefront clinics are in Augusta's Washington Crossing shopping center (aka, the place Whole Foods used to be) and the Target-anchored Mullins Crossing shopping center in Evans.

“The idea with The Joint is the same thing I’m doing at my practices,” Jolich said in a news release. “I believe in the idea that chiropractic care should be affordable so people can benefit from quality chiropractic services on a regular basis. They can come in for maintenance and prevention.”

The new offices offer the same services and prices as his existing practices, just in more convenient locations with extended hours. The Joints are even open on Saturdays.

MORE ON MULLINS: Work has begun on the new Old Navy and Five Below stores at Mullins Crossing.

A Myrtle Beach, S.C.-based contractor last month took out more than $1.8 million worth of construction permits to retrofit the shopping center's former Babies R Us store next to Kohl's into three separate storefronts.

The Gap-on-a-budget apparel chain will occupy the largest space – 12,500 square feet. The next-largest, an 8,600-square-foot space, is being carved out for the Philadelphia-based discount variety store, whose merchandise is aimed at teens and pre-teens.

The Old Navy store will be the Augusta-Aiken market's third; the Five Below will be its first. Both spaces, as well as a 1,900-square-foot smoothie shop-sized suite, are expected to be completed this summer.

Just in time for back-to-school shopping. Or a Labor Day sale.

Reach Damon Cline at (706) 823-3352 or dcline@augustachronicle.com.