Monday, December 22, 2014
1012 C Street  •  Floresville, TX 78114  •  Phone: 830-216-4519  •  Fax: 830-393-3219  • 

WCN Site Search


Lost & Found

Lost: Black manx cat (no tail), neutered male, medium build, shy, answers to Bear. Reward! 210-635-7560.

VideoFound: Cute short legged dog, neutered male, near Wilson County Show Barn, red collar and flea collar, sweet. Call 801-791-0613.
If you are missing a pet in Floresville, be sure to check the Floresville holding facility. Animals are only kept for 3 days. Contact Las Lomas K-9 Rescue, 830-581-8041.
More Lost & Found ads ›

Help Wanted

Be skeptical of ads that say you can make lots of money working from the comfort of your home. If this were true, wouldn’t we all be working at home?
Eagle Wrecker is looking for a licensed wrecker driver, must be able to tow and recover vehicles, be 25 years of age with a clean driving record, and be able to pass a drug test. Person must be willing to be on call 24/7. Call 830-393-6125 if you're up to the challenge.
More Help Wanted ads ›

Featured Videos





Video Vault ›

Commentaries


The Economist: Where the Growth is ...




E-Mail this Story to a Friend
Print this Story

Disclaimer:
The author of this entry is responsible for this content, which is not edited by the Wilson County News or wilsoncountynews.com.
Dr. M. Ray Perryman
The Economist
January 5, 2011 | 1,711 views | Post a comment

Texas is set to remain one of the top-performing areas of the US, continuing a decades-old pattern. Growth in output (real gross product) is projected to be more than a percentage point faster in the state than the nation, with 4.36% compound annual growth over the 2010-2015 period (compared to 3.33% for the US). Job growth rates are also forecast to be higher in the state according to my firm’s most recent projections.

A number of characteristics of the Texas business climate kept the worst of the national downturn at bay; among the most important are the Lone Star State’s traditional friendly attitude toward business, favorable tax structure, lower cost structure, relatively strong incentive programs, and economic and regulatory policies. These factors enhance opportunities for relocating businesses, expanding operations, and creating jobs--particularly in the growth industries of the future. Although the state economy certainly suffered in the global quagmire, strength in key industrial sectors also kept it from falling as far and as fast as many locales. Texas and its urban centers have also been recognized as leaders in the recovery by multiple sources.

In the years to come, several industrial sectors will provide the lion’s share of growth. Others will contribute a healthy dose of opportunity or underlying stability. Here is a quick glance at the outlook for major industrial sectors.

The Lone Star State’s real gross product (RGP or output) is forecast to expand by $256.53 billion from 2010 to 2015. Three sectors will likely account for about 54% of this increase: services (29%); finance, insurance, and real estate--FIRE (13%); and wholesale and retail trade (12%). These are the state’s largest industrial groups; the services segment currently comprises more than 24% of all output in the economy, while FIRE is second with almost 15% and trade is third with just under 13%.

Other important sources of growth are durable manufacturing (with 9% of the state’s overall output gain for the 2010-2015 timeframe) and mining (with more than 7%). All industrial sectors are projected to expand over the forecast horizon.

Projected sectoral RGP annual growth rates during the next five years are: agriculture--2.28%; government--2.81%; FIRE--3.81%; construction--3.96%; trade--4.13%; mining--4.27%; nondurable manufacturing--4.48%; transportation, warehousing, and utilities (TWU)--4.48%; information--4.84%; services 5.17%; and durable manufacturing--5.34%.

Turning to employment, the Lone Star State also compares well. Through most of 2010, job creation in Texas has been strong and broad based, with most metropolitan areas experiencing gains. The state’s unemployment rate continues to trend below that of the nation; in fact, since 2008, approximately 70% of all net new jobs in the US have been created in Texas. For the 2010-2015 period, wage and salary employment is anticipated to experience a compound annual growth rate of 2.29%, reflecting an increase of 1.3 million workers (from 10.8 million to 12.1 million).

Currently, about four of every 10 Texans work in services industries. Over the next five years, more than half of net new jobs will form in that sector, with trade and government together adding about one in four of the rest. Jobs are projected to be added in every other major industrial cluster as well.

Yearly employment expansion rates anticipated during the 2010-2015 period will likely range from well under 1% per year in agriculture to over 3% in services. Less than 1% growth is also expected for nondurable manufacturing. Durable manufacturing, government, information, mining, and FIRE are forecast to fall into the 1%-2% range. Trade, TWU, and construction top 2%.

Texas benefits from good fortune (natural resources which contribute to the existence of a vibrant oil and gas segment) and good management (growth in emerging industries such as technology-oriented manufacturing). The large industrial segments such as services are expected to continue to be the source of the majority of new jobs. At the same time, basic and export-oriented industries such as manufacturing generate a sizable increment to economic activity.

As we look to the next five years, Texas appears poised to remain a center for economic growth and prosperity, with the state’s diverse economy providing both stability and sources of strong growth potential.

Dr. M. Ray Perryman is President and Chief Executive Officer of The Perryman Group (www.perrymangroup.com). He also serves as Institute Distinguished Professor of Economic Theory and Method at the International Institute for Advanced Studies.
 
« Previous Blog Entry (January 3, 2011)
 


Your Opinions and Comments

Be the first to comment on this story!

You must be logged in to post comments:



Other Commentaries

Commentaries
Commentaries page govtrack.us
Commentaries who represents me?
East Central Driving SchoolChester WilsonHeavenly Touch homeTriple R DC ExpertsVoncille Bielefeld homeAllstate & McBride RealtyBlue Moon Karaoke & DJ

  Copyright © 2007-2014 Wilson County News. All rights reserved. Web development by Drewa Designs.