Urban Growth Patterns Map 1
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RealReal EstateEstate MarketMarket OverviewOverview LaredoLaredo Jennifer S. Cowley Assistant Research Scientist Dana M. Pechacek Graduate Research Assistant Texas A&M University June 2001 © 2001, Real Estate Center. All rights reserved. RealReal EstateEstate MarketMarket OverviewOverview LaredoLaredo Contents 2 Population 5 Employment 8 Job Market Major Industries 9 Business Climate 11 Education 13 Transportation and Infrastructure Issues 14 Public Facilities 15 Urban Growth Patterns Map 1. Growth Areas 16 Housing 17 Multifamily 18 Manufactured Housing Seniors Housing 19 Retail Market Map 2. Retail Building Permits 20 Office Market Map 3. Office Building Permits 21 Industrial Market 23 Conclusion RealReal EstateEstate MarketMarket OverviewOverview LaredoLaredo Jennifer S. Cowley Assistant Research Scientist Dana M. Pechacek Graduate Research Assistant Interstate 35 US Hwy 59 Laredo State Hwy 359 US Hwy 83 Area Cities and Towns County Land Area of Laredo MSA Bruni Webb 3,377 square miles Laredo Mirando City Population Density (2000) Oilton 57 people per square mile aredo, the principal port of entry of international trade has increased as population of more than 660,000. into Mexico, is often called the a result of the North American Free Laredo has approximately 91 percent L “Gateway to Mexico” and “the Trade Agreement (NAFTA). of Webb County’s population. Laredo’s city under seven flags.” Located in The Laredo MSA has a population of land area, however, accounts for only south Texas along the Rio Grande, almost 200,000, while Nuevo Laredo 0.6 percent of Webb County’s 3,377 Laredo’s importance as an integral part on Mexico’s side of the border has a square miles. 1 Laredo has been named the nation’s Laredo is 2.5 hours driving time from fastest growing city east of the Rocky Corpus Christi, San Antonio and Mountains and ranks second in the Monterrey, Mexico. Houston is ap- state for number of jobs created during proximately five hours away, and Dal- the last decade. las is about seven hours. POPULATION Kelly Air Force Base, San Antonio Laredo MSA Population (Webb County) Year Population 1990 134,517 1991 140,492 1992 147,823 1993 155,747 1994 162,834 1995 169,715 1996 174,365 1997 180,370 1998 186,798 1999 193,180 2000 193,117 Source: U.S. Census Bureau, May 2001 he metropolitan statistical area cent increase since 1990. This growth dicts a growth rate of 4.7 percent per had a 2000 population of rate was the highest among the 15 larg- year through 2020. According to the T 193,117, a 44.9 percent in- est Texas cities. Laredo ranks 13th Laredo Development Foundation, the crease since 1990. From 1990 to among those cities in total population. area's population is expected to ex- 2000, Laredo ranked ninth in popula- The Texas State Data Center projects ceed 230,000 in 2005 and reach tion growth rate among MSAs across the MSA’s population will grow 7.2 275,000 by 2010, representing a 20 the nation. The City of Laredo’s 2000 percent per year through 2020. The percent growth rate over the five-year population was 176,576, a 43.7 per- Texas Water Development Board pre- period. 2 Texas Metropolitan Area Population Change, 1990–2000 (in percent) McAllen-Edinburg-Mission 48.5 Galveston-Texas City 15.1 Austin-San Marcos 48.2 Tyler 15.5 Laredo 44.9 El Paso 14.9 Dallas 31.5 Corpus Christi 14.3 Brownsville-Harlingen-San Benito 28.9 Victoria 13.1 Brazoria County 26.1 Waco 12.9 Houston 25.8 Texarkana 9.4 Fort Worth-Arlington 25.1 Lubbock 9.0 Bryan-College Station 25.1 Wichita Falls 7.8 Texas 22.8 Longview-Marshall 7.7 Killeen-Temple 22.6 Beaumont-Port Arthur 6.6 San Antonio 20.2 Abilene 5.8 Sherman-Denison 16.4 San Angelo 5.6 Amarillo 16.2 Odessa-Midland 5.1 Source: U.S. Census Bureau Laredo MSA Projected Population Texas State Texas Water Year Data Center Development Board 2005 270,481 — 2010 332,131 293,939 2015 397,567 — 2020 473,120 384,260 Sources: Texas State Data Center and Texas Water Development Board Projected Population Growth, 2000–2020 (in percent) 150 100 126.0 50 1.1 40.2 0 Laredo MSA Texas Source: Texas State Data Center 3 Household Composition Laredo MSA Texas Median household size (1990) 3.7 2.73 Population younger than 18 (1999, in percent) 36.6 28.5 Population 65 and older (1999, in percent) 7.4 10.1 Source: U.S. Census Bureau Ethnic Distribution (in percent) Laredo MSA Texas Ethnicity 1990 2000 1990 2000 Hispanic 93.5 94.3 25.3 32.0 White 5.7 4.9 60.8 52.4 Black 0.2 0.2 11.7 11.3 Asian 2.8 0.4 0.3 0.3 American Indian 0.2 0.1 1.8 0.3 Other 0.0 0.0 0.1 0.1 Two or more races* — 0.1 — 1.1 * For the 2000 Census, the Census Bureau changed the “race” options, allowing people to report their race as “other” or as two or more races. Source: U.S. Census Bureau he Laredo MSA’s 1999 personal 1990 and 1999. Overall, minority with Mexico contributes to the MSA’s per capita income was $14,112. groups have been showing the most large Hispanic population. Laredo's T The state average was $26,834, growth throughout the state. The population is significantly younger according to the U.S. Bureau of Eco- Laredo MSA has a much higher His- than the population of the state as a nomic Analysis. panic population percentage than the whole, and the area’s median house- There were only minimal changes in state for both 1990 and 1999. Webb hold size is one of the state’s highest. the MSA’s ethnicity makeup between County’s location along the border 4 EMPLOYMENT 10 12 14 16 18 20 Source: U.S.BureauofLaborStatistics 0 2 4 6 8 January-95 10,000 20,000 30,000 40,000 50,000 60,000 70,000 Source: U.S.BureauofLaborStatistics May 0 Sept 1990 January-96 May Laredo MSAUnemploymentRate 1991 Sept Laredo MSAEmployment 1992 January-97 1993 May (in percent) Sept 1994 5 January-98 1995 May 1996 Sept January-99 1997 May 1998 Sept 1999 January-00 2000 May Sept January-01 Top Ten Employers Top Ten Private Employers United Independent School District Mercy Hospital of Laredo Education Health care 3,669 employees Bergstrom Air Force Base,1,553 employees Austin Laredo Independent School District H-E-B Grocery Company Education Grocery Store 3,461 employees 1,225 employees City of Laredo McDonald's Restaurant City government Fast food 1,970 employees 800 employees Mercy Hospital of Laredo APC Homemaker Service Health care Health care 1,553 employees 713 employees H-E-B Grocery Company The Laredo National Bank Grocery store Financial services 1,225 employees 667 employees Webb County Wal-Mart County government Retail sales 1,165 employees 538 employees Immigration and Naturalization Service Columbia Doctors Federal government Health care 845 employees 535 employees McDonald's Restaurant International Bank of Commerce Fast food Financial services 800 employees 419 employees APC Homemaker Service Laredo Medical Group Health care Health care 713 employees 412 employees Texas A&M International University Miracle Candle Company Education Candle manufacturing 672 employees 385 employees Source: Laredo Development Foundation Employment Growth by Industry Laredo MSA Texas Employment growth, 2000 (in percent) 5.2 3.2 Unemployment rate (in percent) 5.6 4.3 New jobs in 2000 3,400 288,900 Employment growth by sector, 2000 (in percent) Services 9.8 4.7 Trade 1.2 3.1 Manufacturing 0.0 0.1 Mining 0.0 2.3 Finance, insurance and real estate 11.5 1.3 Construction 4.0 6.2 Government 4.0 1.7 Transportation, communications and public utilities 7.6 5.1 Sources: U.S. Bureau of Labor Statistics and Texas Workforce Commission 6 Texas Metropolitan Area Employment Change, 1990–2000 (in percent) Austin-San Marcos 58.8 El Paso 15.4 Laredo 40.3 Waco 14.3 McAllen-Edinburg-Mission 35.8 Lubbock 14.0 Dallas 30.4 Sherman-Denison 12.5 Brownsville-Harlingen-San Benito 30.1 Longview-Marshall 12.2 Bryan-College Station 29.2 Abilene 11.4 Killeen-Temple 28.7 San Angelo 10.7 San Antonio 28.6 Corpus Christi 10.3 Fort Worth-Arlington 23.7 Galveston-Texas City 8.2 Texas 23.3 Wichita Falls 7.8 Tyler 22.9 Odessa-Midland 6.5 Victoria 22.4 Texarkana 4.5 Houston 22.1 Beaumont-Port Arthur 3.5 Amarillo 18.6 Brazoria County 2.3 Source: U.S. Bureau of Labor Statistics, February 2001 aredo had the second-highest Statistics. The Texas Workforce Com- Sony’s plant is the company's most employment percentage change mission reported unemployment to be productive plant worldwide. L of all Texas MSAs between 1990 5.6 percent for 2000. Maquiladoras are a bi-national and 2000. Area civilian employment The Laredo Development Founda- manufacturing system in which U.S. jumped to 68,440 in 2000, according tion reports there are approximately 60 products are assembled in plants on to the U.S. Bureau of Labor Statistics. maquiladora plants in Nuevo Laredo, Mexico’s side of the border. The Texas Workforce Commission re- Mexico, which provide direct jobs for Maquiladoras import raw materials ports nonagricultural employment was 3,000 Laredo residents and more than duty free from the United States. They 68,900 for 2000. Unemployment 22,000 Nuevo Laredo residents.