60ºF

Texas economist delivers good news

Dr. Ray Perryman talks national, state, local economies

SAN ANTONIO – A prominent economist visited San Antonio to deliver his economic forecast for the nation, the state of Texas, and San Antonio.

Dr. Ray Perryman is the president of the Perryman Group, an economic research company based out of Waco.

On Thursday, he traveled to San Antonio to deliver some good news about the economy. People from industries across San Antonio gathered at the Petroleum Club to hear the news, starting with the national economy.

"The recovery has picked up momentum in the last few months, gaining well over 200,000 jobs a month now. That is a good strong performance comparable to the mid-'90s, the best we've had in a while," Perryman said.

Perryman says that's in large part due to a spike in consumer confidence. Another contributing factor is massive job growth in several specific states, one of them being Texas.

"In the past year, we've has gained more jobs than any point in the history of Texas," Perryman said.

Perryman cited several reasons for the 400,000 job increase.

"Technology sectors, our incentive programs, our workforce, our location, our cost structure, all kinds of things. But the oil boom above all of that is really what has created so much additional momentum for the state," Perryman said.

San Antonio specifically is a place that's benefited from the oil boom, but the Alamo City's growth ranges far beyond oil.

"Historically, it's been about tourism, the military, and healthcare," Perryman said.

Now, however, with companies like Toyota and Eagle Ford Shale coming to San Antonio, the city has become a huge market for both manufacturing and energy, Perryman said.


About the Author: