AQUA BOOK 2014 - Page 30

Nueces County The key private industries in Nueces County are health care, accommodation and food services, and retail trade. The health care and social assistance sector accounts for 17 percent of all jobs in the county, and the hospitality sector accounts for another 12 percent. The government sector is also relatively large, with Corpus Christi Army Depot as one of the largest employers in the county. Employment Growth 2008-13 by Industry Government Other Services (except Public Admin) Accommodation & Food Services Arts & Recreation Health Care & Social Assistance Educational Services (Private) Administrative & Support Management of Businesses Professional & Scientific Services Real Estate & Rental Finance & Insurance Information Transportation & Warehousing Retail Trade Wholesale Trade Manufacturing Construction Utilities Mining Agriculture Since oil and gas drilling activity picked up in 2010, businesses that directly support oil and gas extraction have added a total of about 2,500 jobs in Nueces county. Along with construction activity that supports oil and gas production, the development of electric power plants and a steel mill has added considerable workforce demand for in the region’s Millions Sales Volume, $mil (left scale) -25% -20% -15% -10% -5% construction industry. As the state and national economies began to recover from the 2007-2009 recession, the county’s Y-o-Y % Change (right scale) 0% 5% 10% 15% 20% tourism or hospitality sector—a mainstay of the local economy—has revved up rapidly. Home Starts 100% 1,800 16,000 80% 1,600 14,000 60% 1,400 40% 1,200 20% 1,000 18,000 12,000 10,000 8,000 0% 6,000 4,000 -20% 2,000 -40% 0 -60% 2008 2009 2010 2011 2012 2013 800 600 400 200 0 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Nueces county appears to have dodged most economic effects from the 2007-2008 financial crisis and the ensuing global recession. Local business sales quickly regained traction after a plunge 28 | in early 2009. The county’s sales volume reached a post-recession peak in mid2012, and then stabilized throughout 2013. Residential and industrial construction has also kept the local Annual Review of the South Texas Economy – 2014 Edition economy afloat. New home construction began to take off in early 2012. In 2013, 14 percent more home permits were issued in the county than the previous year.