Laredo ranks 8th nationally for growth
Zach Lindsey
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Laredo has been ranked eighth nationwide in terms of job growth according to a recent analysis published on Forbes.com.
It was also ranked sixth in terms of job growth in smaller cities.
Unemployment rose 1.7 percent in 2008, but job growth went up 15.8 percent that year, according to Forbes.
"Overall, I think that's very good news," said Mayor Raul Salinas.
"It gives people that are willing to invest in our city a bright outlook."
Government jobs account for about 29.4 percent of Laredo's employment opportunities.
Retail accounts for 19.8 percent. Education, health and manufacturing follow.
Salinas noted the importance of outlet stores in the El Portal Center.
"Outlets ... would not only bring more shoppers to the city, but it creates approximately 1,000 jobs when it's all over and done with," he said.
International trade is one of the reasons Laredo is prospering.
"That's one of our key components for business," Salinas said.
Salinas acknowledged a weakened national economy.
"We're seeing where people are suffering in Laredo," Salinas said.
"While other cities are suffering more than we are, we're still feeling the pain of the downturn of the economy."
This is Laredo's third positive placement on a nationally recognized job growth list since the beginning of 2009, according to Roger Creery, executive director of the Laredo Development Foundation.
In January, the Web site Jobbait.com researched job growth during the last four recessions, including this one.
"What they said was that Laredo was the only recession-proof city in the country," Creery said.
Since that time, Laredo has slid out of that position, but it is still listed positively for job growth.
Less than two weeks ago, Moodyseconomy.com published a list of all the Metropolitan Statistical Areas around the United States.
They listed three qualifiers: recession, at-risk or expanding.
"Laredo was the only economy in the United States that was in expansion," Creery said.
"Everyone else was at risk or recession, that's McAllen, Brownsville ... everybody.
"It's confusing for some people because, wait a minute, didn't we just see an article in the paper where unemployment went up?" Creery said.
"How can we be all these things if unemployment went up?"
There was both job growth and a growth in unemployment in Laredo.
"Our workforce grew faster than the (number) of jobs that we can bring to the workforce," Creery said.
But that fact is a tremendous marketing tool for organizations like the development foundation.
"Boardroom decisions are made to move operations, so they're aggressively looking for places to land that fit this profile that they're looking for," Creery said.
Laredo has a good location for trade. Its workforce has an average age of 26.9 and is bilingual.
"We happen to be in a business-friendly state," Creery said.
All of that combines to help Laredo, and all of South Texas, continue to demonstrate resilience in a negative economic time, according to Creery.
"When you get these independent rankings out there by noteworthy and credible sources, it helps complete the Laredo story," Creery said.
Texas dominated the Forbes list. Odessa took the No. 1 slot, and of the top 10 cities, seven were in the Lone Star State.
College towns also did well.
(Zach Lindsey may be reached at 728-2538 or zach@lmtonline.com)
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4/17/2009
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