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, was held in the spring of 2012, 2013, spring and fall of 2014, and fall of 2015. At the first three forums, Dr. Keith Philips, Senior Economic and Policy Advisor at the Federal Reserve Bank of Dallas-San Antonio Branch described national economic conditions. At the Spring 2014 forum, Mr. Vincent Capell, Kingsville’s City Manager, described how his organization is responding to the reported economic conditions. At the Fall 2014 Forum, Ms. Barbara Canales, Corpus Christi Port Commissioner, shared information about its rapid expansion making it the fifth largest U.S. port by tonnage. At the Fall 2015, Ms. Judy Hawley, Commissioner and Chair of the Corpus Christi Port Authority provided forecasts regarding increases in tonnage and diversity of products leaving Corpus Christi. Regional economic conditions have been presented by Tom Krueger, Texas A&M University-Kingsville College of Business Administration Professor of Finance, who is the initial recipient of the J.R. Manning Endowed Professor of Innovation in Business Education designation. 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 spring 2014, Kleberg County was compared to two Coastal Bend counties with similar populations, Aransas County and Bee County. At the Fall 2014 forum, an analysis of the impact of oil and natural gas production in the closest county with drilling (Live Oak County), was compared to Kleberg County and the in-between Jim Wells County. The 2015 Forum contrasted economic conditions of Kleberg County to that of Randall County (home of West Texas A&M University) and Waller County (home to Prairie View A&M University), as a way to expand upon the economic impact study completed for all Texas A&M Universities which was completed in the spring of 2015.
A highlight of the presentations is the sharing of results from a survey of forum participants, local residents (conducted by the Delta Sigma Pi business fraternity), and Texas A&M-Kingsville students. In the most recent survey, approximately 40 percent of surveyed Forum participants (who tend to come from the business, financial, and academic communities) and students had positive expectations regarding the future. However, only 32 percent, 26 percent, and 16 percent of local residents were confident about the U.S. economy, local economy, and their personal economy, respectively. Forum participants perceive more business support arising from the local community, local government officials, and Texas A&M University-Kingsville, than is being perceived by local residents or students. On average, support is perceived to exist among two-thirds of Forum participants. Unemployment is a much more important concern, jumping from typically being out of the top five concerns to being listed third greatest concern among participants, fourth among local residents, and third among students. On average, the top three priorities for additional government spending are roads ($21 per $100), public education ($17 per $100), and infrastructure ($12 per $100), accounting for over half of the allocation of any new funds. In summary, the primary “take-away” from the Fall 2015 Economic Forum is that although Kleberg County has significant challenges (i.e., poverty, taxes), it is expected to do better than Randall County, Waller County, Texas overall, and the United States as a whole, which is a sentiment reflected in the responses of survey respondents and students, though not as strongly by local residents. Continued economic growth at the Port of Corpus Christi is perhaps one driver of this confidence.
By knowing one’s current economic condition, it is possible to gain an understanding regarding what that person's future may hold. A copy of the booklets distributed at each Economic Forum can be identified by clicking on the respective link.
The links below provide access to some of the publicity regarding the event.
This page was last updated on: March 10, 2016