Texas maintained its position at the top of Chief Executive magazine’s list of Best and Worst States for Business. Recognized this year for its growing population, low unemployment, low taxes and booming 4.8 GDP growth rate, the Lone Star State has held the number one spot for ten straight years. …Read Entire Post
Over half of 2013 U.S. oil production came from 20 counties, six of which are located in South Texas’ Eagle Ford Shale, according DrillingInfo.
The 20 counties — half spread through Eagle Ford and North Dakota’s Bakken Shale — represent just 2 percent of U.S. oil-producing counties yet accounted for 52 percent of 2013’s output. …Read Entire Post
Texas has been named the No. 1 state in the country for doing business by Area Development Magazine.
“In Texas, we understand that in order for our economy to thrive, government must get out of the way and let businesses get to work,” Gov. Rick Perry says. “Our free market principles, low taxes, fair courts and smart regulations are an attractive combination for employers across the country. …Read Entire Post
U.S consumer confidence ebbed early this month and retail sales rose just slightly in August despite strong demand for automobiles and other big-ticket items, the latest indications economic growth slowed in the third quarter.
The lack of momentum in the economy was underscored by other data on Friday showing an energy-led increase in wholesale prices last month, but subdued underlying inflation pressures.
The Thomson Reuters/University of Michigan’s preliminary reading on the overall index of consumer sentiment fell to 76.8 in September, the lowest since April. Confidence fell amid concerns over high interest rates. …Read Entire Post
The San Antonio Economic Development Foundation (SAEDF) released numbers from the organization’s 2012 Economic Impact report conducted by UTSA’s Institute for Economic Development Center for Community and Business Research. The report outlined substantial gains in area jobs and the subsequent effect it will have on the economy.
In 2012 SAEDF helped to expand or locate 25 companies representing diverse industries, including the addition of several national operational centers, energy firms and data centers. …Read Entire Post
Oil production in the South Texas Eagle Ford shale formation rose 58 percent in May from the prior year.
The nine fields that make up the majority of Eagle Ford yielded 581,923 barrels of crude a day, according to preliminary data released by the Texas Railroad Commission, which oversees oil and gas drilling in the state. The fields produced 368,770 barrels daily in May 2012. …Read Entire Post
The latest data released by the U.S. Department of Commerce’s International Trade Administration listed the San Antonio-New Braunfels metropolitan area among the Top 25 Metro Area Exporters. Merchandise exported from the San Antonio MSA reached a record $14 billion in 2012 – up 33.3% compared to 2011. San Antonio-New Braunfels is one of only 32 metropolitan areas with exports in excess of $10 billion and one of only 14 that reported double-digit export growth over the previous year. …Read Entire Post
Oil and gas exploration and production has generated strong economic activity and has boosted the fortunes of both Texas and North Dakota, according to a recent U.S. Bureau of Economic Analysis report.
The energy industry not only contributed to economic growth but also increased durable goods manufacturing — which includes the making of machinery for oil and gas fields. …Read Entire Post
Economic expansion and job growth will drive recovery as interest rates rise. Recovery in the housing market augers for continued improvement in U.S. commercial real estate over the next two years.
Despite challenges – including gradually rising interest rates and government spending cuts – the outlook for commercial real estate is positive. The U.S. economy is expected to grow by 1.9% in 2013 and accelerate to 2.8% in 2014. This growth will spur the creation of 4.8 million jobs over the next two years. As job growth accelerates, so too will demand for commercial real estate, leading to continued improvement in vacancy rates. …Read Entire Post
Even at the height of an oil boom, people worry about what happens next. In little more than four years, the oil and gas from the Eagle Ford Shale field has rocked Texas and the rest of the country. Late last year, the International Energy Agency made the startling projection that the United States could briefly surpass Saudi Arabia as the world’s largest oil producer in the next decade and could be nearly energy independent by 2035.
Today, the mostly rural area of the Eagle Ford—about fifty miles wide and four hundred miles long, running across roughly two dozen counties—is thick with truck traffic. Last year, the Railroad Commission issued more than 4,100 drilling permits for the shale, up from just 26 in 2008. Oil production in 2012 jumped to about 352,127 barrels a day, up from 127,965 barrels a day in 2011. …Read Entire Post