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Summer is heating up in San Angelo’s economy

SAN ANGELO, Texas – A handful of different categories support the San Angelo economy. A new statistic from the 2010 census shows that the city of San Angelo now has 10 percent more inhabitants. This has an impact on the economic stimulus that the city sees, such as: B. falling unemployment rates and increasing housing permits.

“Shows that we are a vibrant community that is actually expanding and growing, and that is where we would like to be,” said Walt Koenig, CEO of the San Angelo Chamber of Commerce.

It’s no secret that the housing market has been hit hard at the national level thanks to the pandemic. However, San Angelo is particularly on the up in terms of housing permits.

“These permits will move into the start and construction and I think material costs and labor availability will modulate that a bit, but we certainly see a lot in the pipeline and we definitely like to see that because we do need “more inventory on the housing market,” said Koenig.

As Koenig puts it, there are currently two types of communities, one that is successful and has housing problems and the other that is less successful and has a housing surplus.

“They are less successful and have a surplus of housing that we would prefer to classify in the first category,” said Koenig.

His reasoning? He tells us that he has received this hand before in a larger city and that the open land in San Angelo allows for more growth.

“Buildable land was a big problem; Development costs were a big problem. We don’t have that challenge here, so we have a lot of room to move and a lot of room to grow. And that certainly benefits San Angelo in many ways, ”said Koenig.

On the one hand, residential permits have risen and, on the other hand, unemployment has fallen. San Angelo ranks 5.8 and leads West Texas for communities with low unemployment rates. For business developers, however, a good market is 5 percent. So there are still a few changes to be made.

“We need more people here to work in the companies we have, and we certainly need more professionals here to help us grow into the kind of community and economy we aspire to,” Koenig said.

Especially in trades that saw a decline due to the Covid-19 pandemic.

“The service industry, the hospitality industry, there are many offers and if we fill them up, we will see even more economic growth and more economic output,” explains Koenig.

Walt Koenig also emphasizes that with a view to the city of San Angelo, more jobs in the manufacturing industry want to come to the region and that increased trade is possible thanks to the railway port and the railway capacities as well as the connections to Mexico.

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