Job Growth in San Antonio Stands Above the Rest
San Antonio is a city that values traditions, is filled with culture and is a place where you can always find an upbeat atmosphere. It’s best known for the Alamo, the Riverwalk, its Spanish Missions and more. The city can offer any visitor a day of memories or a night full of excitement and culture-filled festivities.
However, one of the city’s strongest features isn’t historical, it’s the job growth in San Antonio. Having a higher job growth rate than the state and national averages is no simple matter rooted in just one thing.
The city surpassed expectations for job growth in 2014 by adding more than 4,750 jobs in the year alone. The additional job growth is due partly to the fact that more than 28 companies have expanded or relocated their businesses to the city last year.
Many of these new jobs came with the assistance of the City of San Antonio’s Business Retention and Expansion program. The program strives to propel local businesses forward by supporting through local economic development partners.
San Antonio is expected to reach a 3.0 job growth rate before the end of the year, a prediction higher than the 2.0 - 2.5 expected for the state as a whole. Economic officials are forecasting a growth of 4,000 new jobs this year.
Keith Phillips, Fed senior economist and research officer, said that the healthcare sector and similar industries are expected to experience an above average amount of growth this year. Government jobs are expected to continue to thrive as well.
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Little Effected by Oil
Low gas prices have kept residents and local businesses happy during the past few months, however the changing climate in the oil industry is not expected to have major effects on job growth in San Antonio. No slow down of job growth based on the energy sector is expected. Eagle Ford Shale, the south Texas geological formation that contains a large amount of gas and oil, only accounts for 11% of local employment.
Within a city of 1.5 million people, there are many opportunities for job growth in San Antonio. The city has found the perfect balance between a small town feel and the beauty of a big city. Combining these two factors, it’s very difficult to find a reason not to give this tradition-filled city a chance. At Mission del Lago, we can help you find the right home for your family.