Tyler economic forecast heavy on growth | Tyler economic forecast heavy on growth | https://www.recenter.tamu.edu/news/newstalk-texas/?Item=4224 | 2014-05-13T13:16:00Z | 2014-05-13T00:00:00Z |
TYLER - Between 2013 and 2018, Tyler is projected to experience a gain in annual output (real gross product) of $2.19 billion, a 4.69 percent yearly pace. The largest increases are expected in the services and mining segments, up $716.6 million and $509.2 million, respectively.
The gain in employment over the period is forecast to be 12,200, for a total 2018 employment of 110,700. The large services industry group is likely to account for about 7,800 net new jobs, followed by wholesale and retail trade (with an increase of 1,800).
Tyler MSA Economic Outlook: 2013-2018
Key
Indicator |
2013
Level |
2018
Level |
Growth
Rate*
2013-2018 |
Increase
2013-2018 |
Real Gross Product
(2005$) |
$8.50 billion |
$10.69 billion |
4.69% |
$2.19 billion |
Population |
220,600 |
239,200 |
1.63% |
18,600 |
Wage & Salary Employment |
98,500 |
110,700 |
2.36% |
12,200 |
Real Personal Income
(by place of residence in 2005$) |
$7.75 billion |
$9.54 billion |
4.24% |
$1.79 billion |
Real Retail Sales
(2005$) |
$3.19 billion |
$3.95 billion |
4.40% |
$765.67 million |
*Compound Annual Growth Rate meaning that it reflects changes in the base from which growth is calculated.
Source: Tyler Economic Development Council and the Perryman Group.
| Tyler Economic Development Council
| Tyler
| Economy
| http://www.tedc.org/sites/default/files/files/perryman%202014.pdf | | | | Read more at {Source} |