Transcript Document
Granbury-Hood County Economic
Development
Joey Grisham, Director
Lake Granbury Area EDC
2012 Annual Economic Outlook Conference
Hood County Snapshot
2000-2010 Population growth outpaced Texas and
U.S. —Grew by 25% from while U.S. was 9.7% and
Texas was 21%
Largest growth in the 55 and older cohort
Lost population in Age 35-44 category
Median age is 46 in Hood County; Texas is 33.6; and
U.S. is 37.2
Hood County Snapshot
Hood County Median Household Incomes are higher:
2010
Hood County $54,882
Texas
$49,646
U.S.
$51,914
Hood County ranks 15th in Texas in Per Capita Income
Hood County has 12th highest median travel time to
work-32 minutes
Hood County Strengths
Access to 3 Class One Rail Carriers
Quality of life
Proximity to DFW
Strong growth pattern
Hood County Challenges
Loss of over half of labor force each day—takes away
dollars and customers
Hood County leaks out nearly $650 million annually in
retail sales
Lack of primary jobs
Lack of large available industrial sites with adequate
water, sewer, and natural gas capabilities
Aging workforce (national trend)
Texas Positive Trends
Fastest growing state in U.S.
Continues to be one of the hottest economies
Very Pro-Business: Right to Work State, No income
tax, and competitive incentives
Adds about 500,000 new people per year
Always last state to go into recession and first to
come out
Texas Negative Trends
Many of the new jobs created are lower wage
Texas ranks 35th in college graduation rates at 4-year
institutions; 33rd in Act Avg. Composite scores
Ranks 35th in % of citizens with Graduate or
professional degree
High dropout rates and only 1 other state has a higher
percentage of citizens without a high school diplomaMississippi
Economic Development Trends
Less focus on landing the “big one”
More focus on start-up firms and small business
More interaction with existing companies—building
synergies and clusters (economies of scale)
Economic Gardening
Rifle approach vs. Shotgun approach
Regionalism
Incentives playing bigger role—creates an Economic War
between states and communities
DFW-13 cities with 100,000 or more
Houston has 2
Projects
Air EVAC
STOL Aircraft Assembly plant
Working with FWWR on 3 potential projects: 1 project is
$70 million; 1 is $30 million; and 1 is $10 million
Just completed target industry report
EPA/Clean Air Coalition
Airport expansion is important—5200 foot runway
Retail—Michael’s coming in March, as well as Fuzzy’s Taco,
Farina’s, and Linda’s Kitchen. DQ is looking.
New Weatherford
College Building at Main
Campus
Wouldn’t it be great to
see one of these in
Hood County?
2012-2013
Tell the World about Hood County: Aggressive
marketing and targeted trade shows
Strategic planning retreat
More private sector interaction
Explore funding mechanisms—we are behind our
competitors
Quote
“Everyone wants to go to heaven but no one wants to
die.” Albert King
Questions???