One of the most important questions we should be asking as a community isn’t whether San Angelo is growing. It is.
The better question is: Are we growing fast enough to remain competitive with the rest of Texas? Texas continues to be one of the fastest-growing state economies in the nation. In recent years, its economy has grown at approximately 5 percent annually in nominal terms.
Companies continue to relocate here, jobs are being created, investment is flowing into communities across the state and population growth continues to fuel economic expansion.
How does San Angelo compare? Our metropolitan economy was approximately $9.6 billion in 2023. If San Angelo grows at just 1 percent annually, our economy would reach approximately $10.6 billion after 10 years. If we average 2.3 percent annual growth, our economy would reach approximately $12.1 billion.
Now compare that to an economy growing at 5 percent annually. After 10 years, that same $9.6 billion economy would grow to more than $15.6 billion. That is a difference of more than $5 billion between a community growing at 1 percent and one growing at 5 percent.
Even comparing 2.3 percent growth to 5 percent growth results in a gap of more than $3.5 billion in annual economic activity by the end of the decade. Those numbers represent much more than statistics.
They represent new employers choosing one community over another. They represent higher wages, expanded retail opportunities, additional housing, increased tax revenue, stronger infrastructure, more entrepreneurship and greater opportunities for our children and grandchildren.
So why is San Angelo falling behind many Texas communities? It is not because we lack talented people or a strong work ethic. We have both. It is because many of the ingredients that drive long-term growth require intentional investment.
Workforce development, graduate retention, housing, business recruitment, entrepreneurship, infrastructure, quality-of-place amenities, tourism and support for Goodfellow Air Force Base all contribute to whether businesses choose to invest here.
That is why the chamber continues to focus on initiatives such as expanding business recruitment, supporting existing businesses, retaining more Angelo State University graduates, strengthening entrepreneurship, growing tourism, pursuing major economic development opportunities and advancing projects like a regional sports complex. None of these efforts are isolated. Together, they create the conditions for faster, more sustainable economic growth.
Economic growth is not about becoming the biggest city in Texas. It is about creating more opportunity for the people who already call San Angelo home.
The good news is that growth compounds. Small improvements made consistently over many years produce extraordinary results. Every new business, every entrepreneur, every graduate who chooses to stay, every family that relocates here and every company that invests in San Angelo moves us closer to a stronger economy.
The question before us is simple: Will we be satisfied keeping pace with ourselves, or will we position San Angelo to compete with the fastest-growing economy in America?
The answer depends on the decisions we make today.
Steve Ahlenius is the president and CEO of the San Angelo Chamber of Commerce.
This article originally appeared on San Angelo Standard-Times: Is San Angelo growing fast enough? | Opinion
Reporting by Steve Ahlenius, San Angelo Chamber of Commerce president and CEO / San Angelo Standard-Times
USA TODAY Network via Reuters Connect
By Steve Ahlenius, San Angelo Chamber of Commerce president and CEO | USA TODAY Network
