San Antonio jobs, hotels, commercial real estate 2013

SAN ANTONIO – The local economy has continued to grow and local businesses and industries expect more of the same in 2013.

South Texas can expect the Eagle Ford Shale to continue its reign as one of the nation’s busiest shale oil fields.

Wood Mackenzie, a global energy research firm, estimates that the oil and gas industry will invest an estimated $28 billion in the South Texas region in 2013.

According to a San Antonio Manufacturers Association study, as many as 5 percent of the jobs were going unfilled, which translates to 2,500 high-skilled workers. A training program between Alamo Colleges and Workforce Solutions Alamo is expected to connect unemployed and underemployed residents and veterans with jobs in the industry.

The Alamo City is expected to be slightly ahead of the hotel industry’s national and statewide average for 2013 occupancy rates, according to research firm PKF Consulting USA. The occupancy for San Antonio hotels is estimated at 66 percent this year.

For commercial real estate, the market is expected to improve marginally with only small growth with respect to occupancy and rental rates, said Kim Gatley, a vice president at NAI REOC San Antonio.

The office market will remain constrained because the current economy won’t support any large speculative projects. The downtown office market also will remain challenged.

Read more at the San Antonio Express-News.