Laredo, Texas (2013's 22nd best performing city in US)
ASSETS:
»» Border location acts as a gateway for Mexican goods and manufactured products.
»»Its growing population has a median age of 28.2—nine years younger than the national average.
LAREDO, TEXAS, climbed four spots to finish 22nd. With strong wage growth and the fourth-highest five-year job growth among the large metros, Laredo has also performed better in high-tech output since last year. Services—especially hospitality, health, and administrative services—added the most jobs from 2007 to 2012. Despite strong wage growth, per capita income is still well below the state and national average. While population growth has slowed, it is still increasing faster than the national average, and the median age is more than nine years less than the average. Although Laredo added 520 support jobs for oil and gas activity in 2012, development related to the Eagle Ford Shale is slowing. Low prices for dry gas found in the shale near Laredo have diverted investment to other parts of the formation that contain oil and more lucrative natural gas liquids.Located on the U.S.-Mexico border and with significant employment in the transportation sector, Laredo will benefit from increased imports as the economic recovery continues. The Laredo Sector Border Control employs around 2,000 people, making it one of the largest employers after the local school districts and the City of Laredo.
* Source 2013 Milken Institute Best-Performing Cities
Other Laredo facts...
· #1 INLAND PORT ON U.S.-MEXICO BORDER
* Source Laredo Development Foundation
San Antonio, Texas (2013's 12th best performing city in US)
ASSETS:
»» Medical military operations expanded in the metro after the nationwide base restructuring and closures, providing a significant source of job growth.
»» The metro is benefitting from energy exploration in the Eagle Ford Shale and related activities.
SAN ANTONIO-NEW BRAUNFELS, TEXAS, leapt 10 positions to 12th in this year’s index. The metro ranked ninth and 13th, respectively, in five-year job and wage growth. The primary source of growth has been military medical-related operations stemming from the realignment and closure of military bases elsewhere. One of the largest medical facilities in the nation, Fort Sam Houston will continue to lend stability and contribute to economic expansion in the metro. Ambulatory health-care services also created more than 12,000 jobs over the five years ending in 2012. Oil and gas exploration in the Eagle Ford Shale also helped fuel regional growth. Record drilling levels and high-producing wells are creating a hotbed of industry activity, leading to new jobs in the energy sector and peripheral industries. The Eagle Ford Shale is the largest oil and gas development in the world based on capital investment, according to a Wood Mackenzie report released in January 2013. The metro is also benefitting from the work of the San Antonio Economic Development Foundation, which helped to locate or expand 14 companies, including HVHC Inc., Ercam Trackers, and CGI Federal. Together, these companies are expected to generate 2,000 new jobs.
* Source 2013 Milken Institute Best-Performing Cities