Is the Corpus Christi AreaReaching Its Economic Goal
Presented by William H. Fruth POLICOM Corporation 2740 SW Martin Downs Blvd. Palm City, FL
How a local economy works.
Primary or contributory industries import money.
Consumptive or dependent industries use and consume this money.
Growth in size depends upon the amount of money flowing into the area.
Growth in quality depends upon the wage level of the primary industries.
Characteristics of Primary Employers Sell goods and services outside the economy, importing money to the area. Geographic location influences operating costs, thus profitability. Since their market is not local, they do not have to be in an area to sell their product. They will move when it is unprofitable to be located in an area.
Metropolitan Statistical Areas 363 Micropolitan Statistical Areas 577
Economic Strength The long term tendency for an area to consistently grow in both size and quality.
TEN STRONGEST METROPOLITAN AREAS 1 Charlotte-Gastonia-Concord, NC-SC 2 Washington-Arlington-Alexandria, DC-VA-MD 3 San Diego-Carlsbad-San, CA 4 Nashville-Davidson-Murfreesboro-Franklin, TN 5 Sacramento-Arden-Arcade-Roseville, CA 6 Phoenix-Mesa-Scottsdale, AZ 7 Dallas-Fort Worth-Arlington, TX 8 Houston-Sugar Land-Baytown, TX 9 Salt Lake City, UT 10 Las Vegas-Paradise, NV
TEN WEAKEST METROPOLITAN AREAS 363 Danville, IL 362 Pine Bluff, AR 361 Danville, VA 360 Pascagoula, MS 359 Abilene, TX 358 Pocatello, ID 357 Weirton-Steubenville, WV-OH 356 Gadsden, AL 355 Muncie, IN 354 Springfield, OH
TEN STRONGEST MICROPOLITAN AREAS 1 Hilton Head Island-Beaufort, SC 2 Edwards, CO 3 Concord, NH 4 Lebanon, NH-VT 5 Kahului-Wailuku, HI 6 Durango, CO 7 Truckee-Grass Valley, CA 8 Bozeman, MT 9 East Stroudsburg, PA 10 Gillette, WY
TEN WEAKEST MICROPOLITAN AREAS 577 Tallulah, LA 576 Lamesa, TX 575 Indianola, MS 574 Jennings, LA 573 Silver City, NM 572 Pecos, TX 571 Levelland, TX 570, AR 569 Bogalusa, LA 568 Pittsburg, KS
TexasMetropolitanAreas
Texas Metropolitan Areas Metropolitan Areas2008 Dallas-Fort Worth-Arlington, TX (MSA)7 Houston-Sugar Land-Baytown, TX (MSA)8 Austin-Round Rock, TX (MSA)39 San Antonio, TX (MSA)43 Killeen-Temple-Fort Hood, TX (MSA)125 Corpus Christi, TX (MSA)153 McAllen-Edinburg-Mission, TX (MSA)191 Laredo, TX (MSA)196 Tyler, TX (MSA)208 El Paso, TX (MSA)219
Texas Metropolitan Areas Metropolitan Areas2008 College Station-Bryan, TX (MSA)225 Longview, TX (MSA)230 Waco, TX (MSA)243 Texarkana, TX-Texarkana, AR (MSA)251 Corpus Christi, TX (MSA)253 Victoria, TX (MSA)269 Wichita Falls, TX (MSA)274 Midland, TX (MSA)281 Beaumont-Port Arthur, TX (MSA)292 Brownsville-Harlingen, TX (MSA)308
Texas Metropolitan Areas Metropolitan Areas2008 Odessa, TX (MSA)312 Sherman-Denison, TX (MSA)331 Lubbock, TX (MSA)349 San Angelo, TX (MSA)352 Abilene, TX (MSA)359
Corpus Christi Economy
Economic Strength Rankings Economic Strength Corpus Christi Brownsville-Harlingen Laredo McAllen-Edinburg-Mission Victoria
2006 Growth Ranking Metropolitan Areas Population225 Employment172 Earnings75 Annual Wages 29 Number of NF Proprietors 238 Per Capita Personal Income 21 Per Capita Government Transfers 47
Actual Amount 2006Rank 363 Metropolitan Areas Population413, Annual Wages 41, Per Capita Personal Income 31, Per Capita Government Transfers 5, Per Capita Medicare 1, Per Capita Retire Trans 1, Per Capita Welfare - Actual Per Capita Medicaid 1,23589
Primary Industries % of Contribution
How To Improve a Local Economy Create more primary industry jobs which pay a wage higher than the area average.
EconomicDevelopment
Economic Development The process which improves the standard of living for the people who live and work in an area.
Existing Industry Recruitment Start-Up
Economic Development Goal Setting Study 2005
ProjectionsandGoal
Annual Milestones
New Area% OF PrimaryJobAvg.Area YearJobsWage Avg ,55832,904135% ,41033,796137% ,79834,830137% ,82335,897136% ,87536,998135% ,95438,135134% ,95139,357135% ,03840,668135% ,43142,025134% ,86243,427133%
PerformanceEvaluation
REGION 2005 NAICS DescriptionJobsEarningsWages Total - All Workers168,4295,553,965,19432,975 Total - Private Sector136,1904,377,442,24532,142 Primary Industries21,1581,132,877,61853,544 Mining2,884161,136,67455,873 Utilities57638,414,98966,693 Construction Manufacturing10,350594,192,53557,409 Wholesale Trade2,975143,624,66648,275 Retail Trade Transportation and Warehousing1,37362,703,82245,676 Information1,08737,983,74534,939 Finance and Insurance75135,694,64047,529 Professional, Scientific, and Technical Services1,00049,581,06049,595 Management of Companies and Enterprises1629,545,48758,923
REGION 2006 NAICS DescriptionJobsEarningsWagesVarienceWage Prim Total - All Workers171,6416,075,856,84435,3993,212Jobs Total - Private Sector139,0784,831,635,16134,7402,888Gained Primary Industries21,8501,277,379,57558, ,503 Mining2,829187,186,97266,167-55Percent Utilities55940,757,64772,960-17of area Constructionaverage Manufacturing11,108690,303,27162, % Wholesale Trade2,963148,767,93150, Retail TradeWage Transportation and Warehousing1,43170,167,42949,02059Prim Information94131,092,85133, Jobs Finance and Insurance72136,418,87950,512-30Lost Professional, Scientific, and Technical Services1,10961,087,32655, ,482 Management of Companies and Enterprises18911,597,27061,36127
REGION 2007 NAICS DescriptionJobsEarningsWagesVarienceWage Prim Total - All Workers175,3826,511,217,57237,1263,741Jobs Total - Private Sector142,6925,197,265,12836,4233,614Gained Primary Industries22,4641,352,423,69560, ,689 Agriculture, Forestry, Fishing and Hunting Mining3,218225,160,71469,969389Percent Utilities69150,772,38373,474132of area Construction0average Manufacturing10,854687,090,57963, % Wholesale Trade3,134162,466,37651, Retail Trade31862,69727,82931Wage Transportation and Warehousing1,55878,541,75950,409127Prim Information94830,591,51332,2648Jobs Finance and Insurance66437,019,25455,752-57Lost Professional, Scientific, and Technical Services1,18366,657,57456, ,122 Management of Companies and Enterprises18313,260,84772,464-6
Annual Milestones
Corpus Christi MSA PrimaryNet GainVarianceNewVariance JobforfromMilestoneJobfrom YearMilestoneYearMilestoneCumulWage Milestone ,90460,50327, ,79661,68927,893
Economic Impact Economic Impact (Minimum) New Primary Jobs 1,306 Additional Jobs 2,220 Total Jobs 3,526 Community Payrolls 114,928,000 Taxable Retail Sales 169,780,000 Local Government Taxes 11,492,800 Economic Impact (Transactions) 718,300,000
Much More Aggressive Goal
Current GoalAggressive Goal New PrimaryJobNEWJob YearJobsWageGOALWage ,7981,05848, ,8231,17550, ,8751,26053, ,9541,38557, ,9511,64160, ,0381,75263, ,4311,91467, ,8622,06670, ,3311,08974,942
Amarillo PrimaryAverage 2006 and 2007 JobsWage Corpus Christi 1,30661,061 Amarillo2,09850,242
Corpus Christi can become the next great economy in Texas.