GSMP holds Economic Outlook Luncheon

Greater San Marcos Partnership President Adriana Cruz proudly proclaimed that the area’s economy is rapidly expanding during the organization’s annual economic outlook luncheon on Wednesday. 

“Our economic performance in the Greater San Marcos area has also experienced tremendous growth over the past three years,” Cruz said.

Cruz, alongside keynote speaker Sarah House — a senior economist at Wells Fargo — and the mayors of San Marcos, Buda, Kyle, Lockhart and Luling, spoke at the ninth annual GSMP Economic Outlook Luncheon inside the City of San Marcos Conference Center. Wednesday’s crowd marked the largest since the event’s inception with over 400 in attendance, Cruz said. 

Cruz spoke on the greater San Marcos area’s population growth, labor force growth and unemployment decrease. The labor force has increased by 45 percent in the last 10 years, while the unemployment rate has dropped by 1.2 percent over the last three years, according to information presented at Wednesday’s event. 

“Hays County has been the fastest growing county in the country every year in the past five years since 2014,” Cruz said. “Similarly, the labor force is growing rapidly over the past few ... This is a positive finding, and I find that not only is our population growing, but our workers are choosing to live in our region.”

During her keynote speech, House touted the growth of the overall economy in the United States and also showed forecasts for the country’s future. Looking at the local economy, House discussed how strong it’s been over the last few years. 

“Whatever this region is doing and what the partnership is doing, you guys should be very proud of yourselves,” House said. “It’s working.” 

The luncheon closed with a panel discussion with the mayors in attendance. San Marcos Mayor Jane Hughson said the new SMART (San Marcos Air, Rail and Truck) terminal is one of the most exciting economic developments for the city. 

“We are in a, not totally unique but, fairly unique for our region position, where our airport is located next to a rail line,” Hughson said. “There’s so much room for opportunity there and we’re very excited.”

Kyle Mayor Travis Mitchell said the whole region benefits when employers come to cities that are members of the GSMP. 

“When the City of Buda lands a new employer, when the City of Luling or San Marcos lands a major employer, it creates a synergy in Hays County that helps us as a region to develop an identity,” Mitchell said. “It increases the quality of life for everyone. I know if I had a job in San Marcos and I commute 15 minutes that would not be bad at all. But if you take that same commute and put it into Austin, it becomes an hour and a half and it takes away from our quality of life.”

Hughson added that low unemployment numbers don’t accurately represent the large workforce in San Marcos. 

“There are many qualified people who are working at the mall or bartending because they want to stay here,” Hughson said. “Or they’re driving in horrendous traffic every day to somewhere else and they would love to work here in San Marcos.” 

GSMP President Adriana Cruz speaks to the largest crowd to ever attend the annual luncheon at the City of San Marcos Conference Center.

As the greater San Marcos area grows, Cruz said economic development is a team sport and everyone will have to do their part to continue on the same path. 

“It will take our entire region working together to grow the strength of our economy by inviting new industry sectors, and raising the median income by attracting employers that offer high-paying, quality jobs,” Cruz said.