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Regional Economic Trendstrends
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Updated for 2016:
Regional Economic Indicators
The Gulf Coast Economic Development District is committed to providing the economic data you need to promote economic development in your jurisdiction. We have updated the economic data on real estate, employment, and county-by-county trends for 2015. Workforce Solutions offers Labor Market Information for the region, including the following data: Economic & Employment Data, Gulf Coast Regional Data, Economic Profiles and Monthly/Quarterly Reports by County and Metropolitan Statistical Area, Regional Unemployment Rates, and Historic Employment Data.
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Enriched Data, Economic Forecast,
Real Estate Taxes

At the first GCEDD meeting of 2016, Patrick O'Connor presented on Enriched Data,a national database with sales, rental, and deed of trust data formed by appraisers not satisfied with the data currently available. He also provided the GCEDD with his economic and real estate forecast consisting of three scenarios: oil price recovery in 2016, 2017, and 2019. He said the idea that the region has diversified and no longer depends on energy is a myth. While 80 percent of base jobs were energy related in 1981, since 1990 base jobs have been 50 percent +/- energy related. His estimate is that there are 70,000 total energy base jobs, and 30,000 jobs were lost in 2015. For every base job, there are four secondary jobs. Thus, the region will lose a total of 120,000 jobs if the 30,000 base jobs in energy are not replaced. Therefore, if the price of a barrel of oil stays below $60 a barrel until 2019, the forecast is for a total of 70,000 base jobs in energy lost. In this scenario, the total job exposure could exceed 350,000. Mr. O'Connor discussed the fallout for the for the real estate market in his presentation, including substantial foreclosures if the energy market does not recover by 2019. The final element of his presentation was on property taxes, and why a homeowner should protest the assessment every year.

Workforce Solutions Presentation Cover
Workforce Solutions - Gulf Coast

Workforce Solutions is the public workforce development organization in Texas, helping employers meet their workforce needs and individuals build careers so both can compete in the global economy. Workforce Solutions' human resources services are offered to employers for no fee. Services include recruitment and applicant pre-screening, job postings, educational seminars, outplacement assistance for companies, job fairs, hiring events, and career expos. In addition to these services, Workforce Solutions also provides customized labor market information, such as regional staffing patterns and job growth projections. Workforce Solutions also offers grants from the Skills Development Fund to provide job training for workers. For more information on how Workforce Solutions can help your business meet their employment needs, contact Susan Dixon at 713-993-2406 or download her presentation to the GCEDD.

 

Comprehensive Economic Development Strategysurvey
CEDS 2014-2018 Cover
CEDS Survey Results

The Comprehensive Economic Development Strategy (CEDS) is the regional plan for economic development. The CEDS analyzes the regional economy, establishes regional economic goals and strategies, and outlines a plan of action. The GCEDD conducted a survey of regional economic priorities, and the results are in. The GCEDD will be advancing the following strategies in 2016: 1) Our Region has a diverse economy and skilled workforces that support businesses, innovation, and entrepreneurship. 2) Our Region's transportation and infrastructure promotes effective goods movement and is well connected to national and global destinations. The GCEDD is in the process of creating and implementing a work plan in support of those strategies. Look forward to more information in the next issue of the Economic Development Digest.

The Economic Development Digest is published quarterly by the
Gulf Coast Economic Development District.  

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