As the New Year Arrives, A Reason for Optimism in Economic Development

By Jason J. Giulietti
President, Greater San Marcos Partnership (GSMP)

Well wishes to you all during this holiday season! The new year is nearly upon us and, like many of you, I am looking forward to starting 2021 – which stands to be a record-breaking year for economic development and activity in Texas.

Earlier this month, the Greater San Marcos Partnership (GSMP) hosted a briefing by Gov. Greg Abbott, and I was pleased to hear his optimism for our state’s projected economic growth. Considering the success GSMP had in our last fiscal year with seven announcements generating more than 550 new jobs, I share his optimism going into the new year.

Among items discussed, the governor highlighted Tesla’s relocation announcement, bringing 5,000 jobs just up north on SH 130, and Oracle headquarters relocating to the Austin MSA. He also noted the economic development pipeline for the State of Texas has more than 225 projects in it – many of which are looking at the Greater San Marcos region. This has boosted our local economic pipeline, giving the region more potential employers and ultimately jobs for our residents.

In fact, four new announcements in our region have already been made this fiscal year, and more are expected to come in 2021.

On top of all the activity in our region, the Pfizer and Moderna vaccines have also given us reason to be optimistic about 2021. The vaccines are being made available throughout medical facilities in Texas, offering our residents the opportunity to protect themselves as they enjoy the holiday season. As we continue to adhere to other recommendations by health experts, we anticipate a continued decrease in the impact of COVID-19 regionally and statewide.

That said, a full resurgence of our economy is sure to follow. During these last ten months, I’ve witnessed the resilience and determination that is truly intrinsic of our region’s culture. We also already have clear signs that economic recovery has already begun in Hays and Caldwell Counties with unemployment rates falling toward pre-pandemic levels – and at rates that are higher compared to the rest of Texas and the nation. These indicators, as well as the inherent advantages of the Greater San Marcos region, are highly attractive to new prospective employers. Most attractive of all are the existing employers who have continued to confront the challenges of 2020 head-on and continue to offer stability and jobs to our residents.

While our region continues to recruit new prospects to diversify and support the regional economy, our focus will continue to be on our existing business as we all look forward to an even more successful year ahead.

As we move into 2021, I am available as always to discuss further why you should be optimistic about our region’s economy. Reach out to me at jasong@greatersanmarcostx.org or on Twitter @JasonGiulietti. Happy Holidays and a Happy New Year to you all.