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Wed July 31, 2013
San Antonio Economic Development Foundation Touts Job Creation In New Report
The San Antonio Economic Development Foundation has released its report for 2012, highlighting a $1 billion per year impact to the area as a result of expanded and relocated businesses.
Henry Cisneros, who chairs the board of the foundation, said new jobs being created in San Antonio are in "horizon” sectors, including healthcare and bioscience, new energy, and information technology.
The report said as a result of the work the foundation has done, 25 companies expanded or relocated in San Antonio. According to SAEDF president Mario Hernandez, when the results of the foundation's work are fully realized, 3,695 direct jobs will have been created, translating into a total of 7,053 jobs.
Hernandez believes the average San Antonian will be able to see the difference.
"This success translates into good jobs and better paying jobs for the citizens of San Antonio and therefore, we believe it greatly improves their quality of life,” said Hernandez. "To have one year's worth of work projected to be a billion dollar change in your economy going forward every year, it shows that San Antonio continues to be an economic success."
The report illustrated secondary impacts of the growth, estimating an additional 499 homes and more than 2,200 vehicle sales in the first year. Over five years, the report said that will result in 1,400 homes and more than 6,400 cars sold.