Texas Comptroller touts state, Central Texas economy

Texas Comptroller touts state, Central Texas economy Texas Comptroller of Public Accounts Glenn Hegar speaks at the Georgetown City Council Chambers on Sept. 10.[/caption]

Texas Comptroller of Public Accounts Glenn Hegar made a stop in Georgetown Sept. 10 as part of his Good for Texas tour, a 27-city tour meeting with local officials and citizens to talk about the state’s economy and its future.

Hegar’s talk included a regional economic regional snapshot that outlined population and job growth as well as other economic indicators.

The Capital Region, which includes Bastrop, Blanco, Burnet, Caldwell, Fayette, Hays, Lee, Llano, Travis and Williamson counties, is one of 12 economic regions in the state.

According to the region's snapshot, the area’s economy is strong and includes thriving industries that continue to draw new residents. According to the report, the region grew by 35 percent between 2003 and 2013.

“We have 650 people who move to Texas every day who want to come here for that economic opportunity,” Hegar said. “That’s about half a million people who are moving to Texas every single year, and there is no better place to see that than in Central Texas and this region. The population increase has been phenomenal.”

Georgetown was named the second-fastest growing city with a population of more than 50,000 by the U.S. Census Bureau. According to the bureau, the city increased by 7.6 percent between July 2013 and July 2014.

Hegar said he expects the region and the state’s economy to continue to grow in part because of its diversification. However, he did say he expects it to grow more moderately in the future.

“We’ve seen oil prices substantially drop, yet we haven’t plummeted substantially. Part of that is the diversification of this economy, especially the diversification of Central Texas, because Central Texas numbers have been off the charts,” he said. “Texas is going to continue to grow, but it’s going to grow more moderately than what you’ve seen in the last two or three years.”

According to the report, the key industries in the capital region are technology, publishing, state government, motion picture and sound recording, mining, non-store retailers, and professional, scientific and technical services.

Between 2003 and 2013 the region added 211,000 jobs, a 30.2 percent increase, and Williamson County jobs grew by 68 percent during that time, according to the snapshot.

 


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