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Community Profile 2.Indd Lubbock, Texas 2009 Community Profile About Lubbock Lubbock, Texas is many things -- the Hub City of the South Plains, home of Buddy Holly and countless nationally prominent musicians, the cotton capital of Texas, major health care center, and center of a fl ourishing wine industry. Lubbock has many of the amenities of a large metropolitan area, such as a large airport, great shopping and restaurants, and excellent public and private schools, yet it retains a wonderful small-town atmosphere. Our area’s true strength is its people. They are spiritual, caring, proud, independent, and exhibit Chapter 1 Geography a strong work ethic. With the perfect combination of Location location, pro-business atmosphere, highly educated Climate workforce and an outstanding quality of life, it is easy to see that Lubbock is the perfect choice for you. Chapter 2 Demographics Population Age Income Ethnicity Chapter 3 Economy Cost of Living Employment Agriculture Lubbock was named after Chapter 4 Business and Industry Thomas S. Lubbock in March Lubbock Business Park 1909. Foreign Trade Zone Strong Industries Innovation Chapter 5 Talent Civilian Labor Force Workforce Development Education Chapter 6 Market Access Ports-to-Plains Cooridor Air Travel Truck Freight Bus Services/ Public Transit Chapter 7 Quality of Life Cost of Living/ Housing Art and Culture Recreation Sports Geography Location The Lubbock Metropolitan Statistical Area is comprised Plains Region. of Lubbock and Crosby Counties and is located in the South Plains Region of Texas. As the economic center Nicknamed the “Hub City” for being the economic, of a 29 county region with more than 600,000 people, educational, and health care hub of the South Plains, Lubbock boasts a strong diverse economy grounded Lubbock is the largest contiguous cotton-growing in agriculture, manufacturing, wholesale and retail region in the world and is located above the Ogallala trade, government, education, and health care. Aquifer, one of the world’s largest water table aquifers. Located in the heart of the vast Southern Plains of West Texas and Eastern New Mexico, Lubbock is The location is positive for businesses in Lubbock. It a major regional center for business and industry. provides the benefi t of a central US location while also Lubbock’s central location provides easy access to being close to the US/Mexico border. the Southwest, the Rocky Mountains, and the Great Distance from Lubbock Albuquerque, NM 321 mi Dallas, TX 347 mi Denver, CO 544 mi Houston, TX 581 mi Phoenix, AZ 782 mi Los Angeles, CA 1,106 mi Lubbock ranked 10th in the American Lung Association’s 2004 “Top 25 Cleanest Cities for Year-Round Particle Pollution” Climate Lubbock has a mild, breezy, semi-arid climate with warm days and cool nights predominating throughout the year. Summers are hot with low relative humidity. The average high temperature in July is 920 F. Most of the annual rainfall occurs during the months of May, June, and July. 45% of all the grapes Winters are typically sunny and mild. Although below grown in Texas are from freezing temperatures are not uncommon, extended this area. cold periods during the winter months are infrequent. The average high temperature in January is 530 F as reported at the Lubbock Preston Smith International Airport. Lubbock’s climate is condusive to a wide variety of outdoor activities and adventures, ranging from Climate Statistics apple picking at the orchard to kite fl ying at the local parks. Elevation 3,241 ft. July Average Temp. 80.1oF January Average Temp. 39.2oF Annual Average Snowfall 10.3” Annual Average Precipitation 18.0” Annual Days of Sunshine 263 Source: Lubbock Preston Smith International Airport Men’s Health ranked Lubbock’s quality of life 10th for the year 2008. Demographics Population Between 2000 and 2008 the Lubbboco k Coore Baased LuL bboco k CBSA 2008 Age Distribution Statistical Area’s (CBSA) population increased 5.3% 5.5% to 263,045 and growth is expece teed to conntinue in the next few years (sitesontexasa .ccom).) 15.4% 21.9% Age 75+ In 2000 the US Census Bureauu ranked Lubboock as the Age 55-74 11th largest city in Texas andd the largest in the LLlana o Estacado. Age 35-54 24.6% Age 15-34 Age 0-14 32.6% Source: Sites On Texas Lubbock CBSA and City 2000 and 2008 Population Age 199,564 City 2000 The Luubbocck MSM As population is heavy on the youthful 249,700 CBSA side with over 60%0 younger than 35. This bodes well for businesses seekingg a strong, young labor force for their employees. 207,680 2008 The US Census data for 2000 shows Lubbock having 261,096 a median age of 31.6 where as the US median age was 35.8. Youth brings a certain vibrancy to the local 0 50000 100000 150000 200000 250000 300000 community giving life to the city. Source: U.S. Census According to Forbes magazine, Lubbock ranked 51st in the nation for Income Growth in 2006. Income Ethnicity Based on information from 718 occupations, Lubbock As with many bordering states and their communities, has an average yearly wage of $38,861.80, a number Lubbock’s population is becoming more diverse lower than the national average. However, when each and every year, creating a unique culture and taking into account the low cost of living at 87.4, it atmosphere. 2008 data shows around 31% of Lubbock’s balances out and Lubbock becomes an attractive population is of hispanic background. place for a career. Income Distribution 2008 Ethnic Distribution 2007 31.3% $0-15,000 17.3% $15,000-24,999 17.3% $25,000 -34,999 12.5% Not Hispanic or Latino $35,000 -49,999 15.9% Hispanic Ethnicity $50,000 -74,999 17.6% $75,000 -99,999 10.0% 68.7% $100,000 -149,999 8.1% $150,000 + 5.1% Source: Sites On Texas 0 5 10 15 20 Source: Sites On Texas “Ryan & Company established Lubbock operations because of everything that is Lubbock; a strong community, a resource of highly skilled residents and University graduates, very favorable operating costs, and so much more.” SterlingBrinson, Manager Ryan & Company ECONOMY Understanding that there is always a choice, accompanied by cost, Lubbock approaches what the future economy might hold with ratio- nal expectations. Spending time available and Inflation using as much information as possible is the rule of thumb in this region. 6 5.3% 4.9% US rate 5 4.1% 4 3.6% Lubbock 3 3.4% 2.8% 3.3% 2 2.5% Cost of Living 1 1.9% 0 The ACCRA Cost of Living Index is based on a national -1 average of 302 urban areas. Lubbock’s all-items index -2 -2.4% -3 is currently 87.4 for 2008 Annual. The utility index is the 2003 2004 2005 2006 2007 lowest in Texas 81.9. Housing, which compromises Source: Lubbock Economic and Demographic Overview 29.2% of the composite index, ranked tenth in the state at 73.6. ACCRA Cost of living All Items Index 2008 Annual Lubbock, TX 87.4 Amarrilo, TX 87.9 Knoxville, TN 89.4 El Paso, TX 92.5 In Texas, Lubbock Albuquerque, NM 96.7 ranked 4th in overall Phoenix, AZ 101.1 Denver, CO 105.0 cost of living for the Las Vegas, NV 107.9 2008 Annual Riverside, CA 119.5 Las Angeles, CA 147.7 Source: ACCRA Cost of Living Index With Lubbock’s Economy continuing to surge, the ex- pansion of new and existing businesses and industries has strengthened the job market. According to the Texas Department of Transportation, the Marsha Sharp Freeway project - one of the largest construction contracts ever awarded in the Lubbock Lubbock has maintained a rich agricultural heritage while district at an estimated $131 million diversifying into other industries such as manufacturing, when complete - is estimated to wholesale and retail trade, education, and healthcare. Lubbock would not be where it is today without its current create 6,000 new jobs through the and historical production. Cotton is the primary crop in project’s life span. the area’s $22 billion agricultural industry. In addition to being a marketable commodity, the Employment cotton trade supports related businesses, such as gins, compresses, a denim plant, and several processing plants. It is stated in economic theory that one of the more Its by-products also provide oil for food, cottonseed meal important factors concerning economic growth is for animal feed, and lint for use in upholstery and paper. the effi ciency of labor. This pertains to the skills and education of the labor force, the ability to handle modern technology, and the effectiveness of which • 50% of the state’s feedlots are located in the Llano the economy’s businesses and markets function. Estacodo area. Lubbock, with a healthy education network, is • North of Lubbock, the High Plains region, contains continually seeking ways to aid its citizens in obtaining feedlots that contribute 70% of the state’s cattle and the skills and knowledge needed in today’s global 27% of the nation’s cattle. economy. Top-tier university research facilities, partnerships, and new and upcoming workforce • 75% of the state’s peanuts are grown in the Lubbock development initiatives fuel the Lubbock economy region, helping Texas rank second in the nation in towards long-term growth. peanut production. • The area contains 45% of Texas wine production. • 40% of the states’ green bell peppers are grown here. UNEMPLOYMENT RATE COMPARED TO THE U.S. AVERAGE • PYCO Industries produces 10% of the nation’s cottonseed oil. • 90% of the nation’s grain sorghum seed is from this area.
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