According to the Express News, the San Antonio metro area is the 6th fastest growing big metro in the United States. Between July 2014 and July 2015, the greater San Antonio area gained 51,285 new residents according to the newest U.S. Census Bureau population estimates. New residents to the area say are attracted to San Antonio by the job market, emerging economy, and overall city development. To add emphasis, not only San Antonio is on the rise. The Austin- Round Rock area is also experiencing massive population growth of 2.98%, making central Texas as a whole the fastest growing population hub in the U.S. So what does all this change mean for its entrepreneurs?
Bio-science and Health Care: According to the San Antonio Economic Development Foundation, in the past decade San Antonio has added 41,567 net new jobs in the bio-science and health care fields, showing 40 % growth in 2012.
Information Tech/ Cyber Security: Generating an economic impact of nearly $10 billion and 34,000 IT professionals, San Antonio is playing a big role in tech development and cyber security. Many IT companies ranging in size from growing cloud computing conglomerate Rackspace to start-up companies in shared office spaces, have chosen to make San Antonio home, thus adding industry strength in central Texas.
Financial Services: From accounting and bookkeeping, banking and credit and other financial vehicles, San Antonio is on the rise. According to the San Antonio Economic Development Foundation, financial assets owned by San Antonio based financial institutions are growing and with it, the market for them.
Manufacturing: According to the 2014 Texas Manufacturers Register, San Antonio ranked the fourth-largest manufacturing market in Texas, with 57,055 jobs. Manufacturing covers a large variety of industry types from vehicle assembly, metals, new energy and pharmaceuticals and in turn is becoming one of the largest markets in San Antonio.
How Entrepreneurs are Driving the Change
These industries are leading the change, but it’s the people who start them, those who sail the ships that offer these industries to the community, that are the catalyst for the change. From the largest employers such as HEB and USAA to one-man passion projects, everyone is playing their part in the growth of the San Antonio economy, and as the population continues to grow, so must our ability to adapt and provide to make San Antonio one of the most formidable metros in the country.