Economists have long been aware that retail spending by Mexican nationals shopping in the U.S. adds significant dollars to local economies, but a new study seeks to expand those numbers for a broader view of the impact of Mexican dollars on San Antonio.
From 2009 to 2011 the healthcare and bioscience industries in San Antonio grew by nearly $5 billion according to a new report by doctors Richard Butler and Mary Stefl from Trinity University.
The study shows the comprehensive impact in 2011 was $29.2 billion, up from $24.5 billion in 2009. Butler said that more than 40,000 new jobs have been added over the past decade to those industries, fueling the city's growth.
“That is right up there with the biggest industries that we have in San Antonio,” said Chamber President and CEO Richard Perez. "Salaries have grown, so this is a place for young people to really find excellent jobs that will fulfill the needs of their families and themselves as being citizens of this community."