Ann Miller, executive director of the Buda EDC, said the retail growth is due in part to the rise in city's population and because of a partnership with The Retail Coach, a national retail consulting firm.
"Over the past year and a half Buda, has gone from a market many retailers weren't familiar with, to a market that they are either exploring or eager to locate in," Miller said in a news release. "A lot of this can be credited to the research, relationships and marketing efforts of The Retail Coach."
CVS/Pharmacy told Community Impact Newspaper in October it plans to open a 15,000-square-foot store in west Buda by late 2015. Construction is set to get underway soon.
The project, however, began small, according to the news release. The developer saw potential for growth in Buda and acquired properties that grew the development to more than 11 acres, according to the release.
A recent demographics report by The Retail Coach found that the population of Buda is more than 10,000, a nearly 40 percent increase from the 2010 Census, which counted 7,295 Buda residents. The average household earns $101,509.
The demographics report projects Buda's population will grow by 14.87 percent from 2015 to 2020. Also, the city experienced a 28.7-percent increase in the number of residents with bachelor's degrees in 2014.
The changing face of Buda, with its rapid growth, is an important trend for the city to have its pulse on so that potential developers can decide if Buda is the right fit for their projects, Miller said.
"Managing the economic development of such a robust community, with a two-person staff, can be a little strenuous," she said. "The Retail Coach is like having an extra staff person at a fraction of the cost."