The region, though well positioned in most regards, is certainly exposed to the volatility of energy, high-tech and telecom industries--a fact that no one here would dispute. But, North Texas also is facing a tight labor market, pressure on infrastructure due to high growth and traffic congestion, all issues undermining marketability in tough times, points out Ed Frieze, Holliday Fenoglio Fowler's research director.
With the negatives well defined, the region still is forecast to continue as one of the top growth metros in the US. Frieze says population and employment growth are predicted to be at "levels well above the national averages over the next several years" due to North Texas' built-in economic engines of a central US positioning, well-educated labor pool and low costs of living and doing business. Frieze, siding with other industry experts, says it will be 2003 before the economy makes a strong swing north.
Still, it's not all bad news with the first six months bringing 44,600 new jobs to Dallas-Fort Worth, according to Frieze. In Houston, 28,700 new positions have been generated this year while San Antonio has realized 14,700 and Austin, 9,700. Some gains are seasonal, he admits, but the bottom line is the signs are positive and he's optimistic that a turn-around will be headed this way in 2003.
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