Manufacturing makes a $40.5bn impact on San Antonio economy
The manufacturing industry in San Antonio, Texas, has not been hugely successful in terms of the rise of its employment over a five-year period ending 2016.
However, in this period the industry’s overall economic impact grew by 28%, which is believed to be because of technological developments and skills improvements.
This is according to data found in the “San Antonio’s Manufacturing Industry: Economic Impact in 2016” report released by professors at Trinity University for the association and the San Antonio Economic Development Foundation.
The US$40.5bn impact on the economy in 2016 makes manufacturing “one of the largest sectors of the San Antonio economy”.
Prof Mary Stefl and Prof Richard Butler had previously released a report on the manufacturing-sector in 2012, which stated that the industry contributed $22.5bn to the economy in the previous year.
The economic impact includes “multiplier effects” which relates to products produced in the city’s metropolitan area but sold outside of the state of Texas.
Employment in 1,544 manufacturing companies only rose from 51,026 in 2011 to 51,904 in 2016, with the additional 878 workers contributing to an increase of 1.7%.
Payroll in the sector increased from $2.42bn in 2011 to $2.99bn in 2016, a 24% increase.