Amarillo EDC presents State of the Economy

Amarillo EDC
The Amarillo Economic Development Corporation (Amarillo EDC) hosted the organization’s Second Annual State of the Economy event on Wednesday in the Heritage Room of the Amarillo Civic Center. The event provided a brief update of Amarillo’s economic outlook and featureed a keynote speech discussing macroeconomic issues and how they impact our community.

Headlining the event was Dr. Ray Perryman. Perryman is the President and CEO of The Perryman Group, an economic research and analysis firm based in Waco, Texas. Dr. Perryman discussed his economic projections for the US, Texas and the Amarillo area. He also described key patterns and trends such as trade issues and changes in the energy sector which affect both the overall economic outlook and local industries.

“National economic activity impacts all communities, but current and past efforts by business and community leaders have placed the area in a favorable position for growth," Perryman said

“As an organization we’re excited to bring this event back for a second time,” said Kevin Carter, President and CEO of the Amarillo EDC. “It’s important for us to be a resource to the Amarillo community, and this event is the perfect way to do that. It will help inform citizens about how national economic issues impact us at home.”

Carter noted Amarillo’s economy has created 2,300 new jobs since mid-year 2017 and a 3% average increase in personal income growth is expected for residents in 2020.

“I think it’s going to be very good. We are going to see that steady increase. We are not going to see a huge increase, even though that would be great.

"I think some of the things we have done to get to this point --- I think with the Texas Tech Vet School --- we could see a higher tick up in the next couple of years, but I think it is going to take a couple of years for that. I see this year, 2020, we are going to have a steady growth," Carter said.

Along with the featured speaker, the Amarillo EDC formally roll-outed the organization’s latest investment into workforce development, the Take Root in Amarillo initiative and website.