The Future Looks Bright for Austin-San Antonio I-35 Corridor

A.D. Willis Company sponsors Corridor Growth Summit

A.D. Willis Company sponsored the Austin and San Antonio Business Journals’ 2010 Austin-San Antonio Corridor Growth Summit on September 17, 2010. The event saw about 250 people in attendance, which included the San Antonio and Austin mayors as well as 15 other mayors in the corridor region. This region encompasses cities along the 70-mile stretch of I-35 between the two metropolitan areas, as well as Dripping Springs.

We learned from keynote speaker, Henry Cisneros, former mayor of San Antonio, about how the region faired during the recession and the economic outlook for the region. Out of 100 U.S. metropolitan areas, San Antonio ranked #1 in weathering the recession and Austin ranked #4. There were 5 Texas cities that ranked in the top 10.

In addition, this region continues to experience significant population growth, which is another good sign for its economic outlook. From 2008 to 2009 San Antonio experienced the 3rd largest population growth in the U.S. adding 24,000 to its population, and Austin had the 9th largest adding 19,000. The population is growing at an even faster pace percentage wise in Buda, Kyle, San Marcos, New Braunfels and Shertz according to the U.S. Census Bureau.

Mr. Cisneros went on to explain how combining the San Antonio and Austin metropolitan areas into a “consolidated statistical area” could significantly impact the region’s economy. The Greater Austin-San Antonio Corridor Council has already taken preliminary steps to have the federal government recognize this region as a “consolidated statistical area” by 2013. This could lift the region to the 15th largest U.S. urban area.

Combining the San Antonio and Austin metropolitan areas would result in a market area of about 3.2 million population, lifting San Antonio from its current position as the 28th largest metropolitan statistical area and Austin’s position at 35th. Seattle is currently ranked the No. 15 metropolitan area. Also, combining these market numbers would raise the region’s profile for purposes of attracting new retailers, airline routes, corporate headquarters and professional sports franchises.