Wally Kennedy: Joplin’s economy rebuilding momentum

It’s hard to say for certain whether consumer spending in Joplin has emerged from hibernation, but there is some evidence that might be happening.

A recent analysis by Moody’s indicates that Joplin is one of 79 metro areas in the country that have moved from recession into recovery. That means growth is occurring now in Joplin.

The analysis shows that Joplin’s economic ship was dead in the water from August of last year to August of this year. The ship appears to be at least moving now. How fast and how far this ship goes will depend a lot on how much money consumers will spend by the end of the year.

New information released last week shows that department store sales are increasing for the most part nationwide.

So, what’s happening here?

Lori Jones, assistant manager of Northpark Mall, said: “Our foot traffic was steady for quite a while. What we were hearing from our stores is that the number of purchases and how much they spent was down. Instead of leaving a store with three sacks, it has been one.

“But foot traffic into the mall started increasing about three weeks ago. We’ve seen an increase on Thursdays. This includes foot traffic by shoppers from outside of the Joplin area.”

Jones said this could be a sign that the holiday shopping season has started and that consumers appear to be willing to open their wallets. If that is happening, our economic ship just might be able to build some momentum to carry us through what surely will be slow going early next year.

Back in business

About six months ago, the Golden Dragon Restaurant, 1020 S. Range Line Road, was illegally entered. An office there was set on fire.

The restaurant, which was forced to shut down because of the fire damage, is getting a complete interior makeover by Todd McCorcle, with McCorcle Construction, based in Joplin.

“We started work about a week and a half ago,” he said. “We hope to be done by Christmas. The owners will stock the restaurant before it can open sometime after the first of the year.

“It will be the same restaurant when it closed down. It will have the same owners, same cooks and same menu.”

Food drive begins

Santa Claus is doling out some extra credit this holiday season to good boys and girls of all ages who bring a gift of nonperishable food to Northpark Mall this month and next.