la Frontera In the News

Austin Business Journal

Williamson County Summit

November 21-27, 2003

Economists give Williamson County high marks

by Brenda Thompson

That glow from the northern end of the Central Texas region isn't some nuclear project you've not been informed about. It's Williamson County's economic optimism.

From good location to positive workforce opportunities to a population with disposable income, observers of the potential in Williamson County say the factors are all ripe for a rosy economy in the near future.

One of those casting a questioning eye at the county has been Ray Perryman. Perryman is founder and president of Waco-based The Perryman Group, an economic and financial analysis firm.

He pioneered the use of economic information for a variety of strategic purposes, and his modeling systems are used for corporate and governmental planning around the world.

Perryman looked over the potential for Williamson County for a presentation at a Nov. 17 forum on the state of the county that is home to the cities of Georgetown and Round Rock and immediately north of Austin.

Although Perryman said when he was interviewed he was still crunching numbers, he did find lots of positives for Williamson County's future.

"Williamson County is in a major global trade corridor and there is a good skills level in the community," he says. "There have been some temporary setbacks, but fundamentally their industries are growth industries."

Perryman says the foundation for economic growth is already in place. For example, Dell Inc. calls Round Rock home.

Perryman says Dell is the backyard opportunity for many vendors who are considering what industry they'd like to target and work with.

"See what Dell and other companies need that you can supply instead of somebody who's more distant," Perryman recommends.

Beyond Dell, Perryman says he believes there are a variety of manufacturing, supply and wholesale opportunities in Williamson County, thanks in part to its proximity to the Mexican market and the way all areas can have global trade with transportation systems that reach around the world.

A Perryman target that is closer to home in the county is service industries, particularly food and drink. He says the fact that Round Rock has been the ninth fastest growing city in the nation with a population of 25,000 or more means a lot of hungry and thirsty mouths.

He recommends considering "service industries that make lifestyles more convenient, good quality food and beverage because you have a growing affluent population."

Another lifestyle positive for the local economy he notes is sports. The cornerstone to professional sports and its trickle-down effect in the area has been the Round Rock Express professional baseball team and the related Dell Diamond baseball park.

The baseball team is owned by the family of Hall of Fame pitcher Nolan Ryan. The family has announced it plans to upgrade the team in 2005 from AA to AAA in the major league baseball farm system. The family paid $10.5 million to buy a team to relocate to Round Rock in that move.

That comes on the heels of the City of Round Rock agreeing to work with the Ryans to increase the ballpark's seating capacity by 1,000 seats and six luxury boxes. The cost of the project is estimated at $1.6 million.

Charlie Ayres, chairman of the Round Rock Chamber of Commerce, agrees that the expansion and upgrade will benefit the local economy, even beyond baseball tickets and hot dogs.

"The Express has already been a real benefit to Round Rock," he told the Austin Business Journal in October. "It's had a domino effect on growth in the hotel, retail and restaurant industries."

A study by Austin-based Impact DataSource Inc. found that between April 2000 and September 2002, Round Rock hotels and motels recorded an estimated $6.5 million in revenue from activities at the stadium.

Local economic development proponents offer analyses as bright as Perryman's.

Nancy Yawn, director of Round Rock's economic development and public affairs, points to workforce improvement projects as key to moving forward. In particular, she notes the Round Rock Higher Education Center – with participation from Texas State University, Austin Community College and Temple College in Taylor – as giving businesses the skilled workers they'll need to grow and prosper. The center is set to open in the fall of 2005.

"The groundbreaking and construction of the new higher education center represents the last piece of the economic development puzzle for our community," Yawn says. "Now, you will be able to live, work and go to college within Round Rock."

Yawn also points to the potential from asphalt slapping to the Williamson County ground. Two road projects, SH 130 and SH 45, should open up areas of the county to new development of all kinds.

"The potential is tremendous and very exciting," Yawn says.

Even the new kid on the block is infected with the economic enthusiasm.

Coming from Waco, Mark Thomas has been on the job as Georgetown's director of economic development for a little more than a month. He is charged with diversifying the local economy and says Georgetown has "really lined up" to help with industry recruitment. Thomas says he's seen a "good, steady flow of inquiries" so far.

In his short-term review, Thomas is tempered.

"It doesn't feel like a boom," he says, "but it is what I would consider to be a healthy flow of inquiries."

Thomas says Georgetown has the basics in place.

"When you go down the economic development checklist, there aren't a lot of boxes left unchecked," he says, naming location, a diversified workforce, higher education opportunities, an industrial park and other development-ready sites.

"Economic development has been pretty tough over the last couple of years, but it feels like it's turning." Thomas says. "I'm hearing companies talking about investing, and hiring, and being ready to move forward."

He says a full recovery "might not be here today, but it's not that far away."