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Statement of Purpose
Local economic conditions have been the focus of the Economic Forum offered by the College of Business Administration. The Forum, which brings together business managers, educators, and community leaders, has been held annually in early spring since its inception in 2012. At all three forums, Dr. Keith Philips, Senior Economic and Policy Advisor at the Federal Reserve Bank of Dallas-San Antonio Branch described national economic conditions. Regional economic conditions have been presented by Tom Krueger, Texas A&M University-Kingsville College of Business Administration Professor of Finance. In 2014, these presentations were augmented by a response by Mr. Vincent Capell, Kingsville’s City Manager since 2011, who described how his agency was responding to the reported economic conditions. Kleberg Bank has provided funding for this project.
In 2012, Kleberg County’s economic conditions were compared to that of two adjacent counties, Brooks County and Jim Wells County. In 2013, Kleberg County’s economic conditions over the past forty years were examined. In 2014, Kleberg County was compared to two Coastal Bend counties with similar populations, Aransas County and Bee County.
A highlight of the presentations is the sharing of results from a survey of local residents and A&M-Kingsville students. In 2014, due to low inflation and relative low unemployment rates, respondents forecast a strong U.S. economy over the ensuing year. Improved personal finances were anticipated by 47 percent of residents and 64 percent of students. Over 50 percent felt that the local community, local government, and A&M-Kingsville were supportive of business The greatest economic concerns are education and housing among both residents and students. However, when it comes to spending additional dollars from external sources, residents would spend the money on buildings maintenance, public education, and parks, while students would spend the external funding on streets, public education, and tourism (i.e., community events).
Specific goals of this project include:
- Support business owners in their decisions by gathering key indicators of local economic vitality.
- Identify trends in order to ascertain the current situation in the dynamic nature of the economic condition.
- Develop specific economic indicators for the region that are not readily available to decision makers.
- Act as a storehouse of these fundamental and trend insights.
- Develop tools to assess Kleberg County’s economic progress. At the outset baseline measures are being developed that will allow comparison with other regions and measure future economic growth of the economy.
- Bring academic and governmental professionals together with business owners for discussion about the local economy and related critical issues.
- Create a business recruitment and retention tool by publishing this information.
By knowing one’s current economic condition, it is possible to gain an understanding regarding what their future holds. A copy of the booklets distributed at each Economic Forum can be identified by clicking on the respective link.
The final link provides access to some of the publicity regarding the event.
This page was last updated on: February 24, 2014