Whether you are a buyer or seller, stay ahead of the market trends by reading VIP Realty’s informative analysis, which encompasses San Antonio real estate and Alamo Heights real estate.
The future is looking bright for the Alamo region – in fact it is really bright.
Texas Comptroller Susan Combs recently released a new report that details the impressive economic outlook for the Alamo Region. San Antonio’s excellent educational opportunities and the robust healthcare and tourism sectors have been credited with much of the success of this region.
The Alamo region, which consists of 19 counties across the south-central portion of the state, includes San Antonio, Seguin, New Braunfels, Kerrville, Fredericksburg and Victoria.
The Alamo Region’s Points of Growth
One of the main points of the report focuses on the regional employment growth which, by all accounts, should see a sharp increase in 2010. In fact, the report states that the Alamo region should see a 23 percent rise in employment by 2013, even despite the current economic problems being experienced not only throughout the state, but the country, as well.
However, it is important to point out that, despite the national recession, the Alamo region has still managed to keep unemployment rates lower than both state and national levels.
Much of the employment growth of the Alamo region is expected to take place in the trade, transportation and utilities sectors, as well as the leisure and hospitality sector, the agriculture sector and the natural resources and mining sectors.
Job demand is expected in the following fields: retail sales, customer service, personal and home care, real estate, nursing, elementary and collegiate teaching, bookkeeping and accounting.
Population Increases Remain Strong
In addition, the population of the Alamo region is also expected to increase by nearly 1.7 percent by 2013, mirroring the employment growth of other regions throughout the state. The Alamo region remains – and is expected to remain – a part of the three, fastest growing counties in the nation: Comal County, Kendall County and Guadalupe County.
The Strength of the Military Sector
Much of the strong, economic outlook for the Alamo region is supported by the Base Realignment and Closure actions. The three military bases of the area: Fort Sam Houston, Lackland Air Force Base and Randolph Air Force Base, all help this area of the country significantly when it comes to employment.
Fort Sam Houston employees nearly 27,000 people and, once the expansion of this base is complete, more than 12,000 more jobs will be added to the already dynamic economy of the Alamo region.
Other Dynamic Industries in the Region
Other strong sectors in this region include the health care industry, which generated nearly $10 billion in 2007 along, and employees one out of seven residents of the region. In addition, the greater San Antonio area is home to 24 of the region’s 47 hospitals.
Agriculture also remains a strong force in the Alamo region’s economy, as it is home to over 70 vineyards over 16 counties. Bexar County is the biggest crop producer in the Alamo region, thanks to its abundant nurseries and greenhouses. The Alamo agricultural sector produced more than $1.35 for the region in 2007 alone.
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