LSUAS Harvey Impact Assessment
Post-Harvey Recovery Efforts
Post-Harvey Business Redevelopment
A&M-Corpus Christi College of Business
Regional Economic Snapshot
The South Texas economy is facing an uncertain future in the near term, mainly because of its exposure to oil and gas activity and the devastation from Hurricane Harvey. An understanding of how these two game changers would affect this region going forward can reduce the uncertainty in our economic outlook, especially for local small businesses. Harvey might have exacerbated our region's long-standing workforce problem. This article is available on the digital platform.
The immediate impact of the 2017 hurricanes on the regional lodging industry seems obvious. It is estimated that 25% of the Texas statewide room-revenue gains in the fourth quarter of 2017 was attributable to Harvey. The Corpus Christi metro area also saw a historic record gain of 10% in room revenues last year. This article is available on the digital platform.
It's been more than half a year since Hurricane Harvey made landfall in Texas. By March, more than half of businesses in Rockport were back in operation, and about one-third of businesses in Port Aransas had reopened. Even though the region has made great strides in bringing the business community to a "new normal," many impacted businesses are still in need of additional financial resources or technical assistance. This article is available on the digital platform.
Based on the current trends in local housing supply and the outlook for housing demand in the midst of a construction boom and post-Harvey rebuilding activities, imbalances in the Corpus Christi housing market are expected to accelerate in the medium term. The outcomes would be higher home prices and lower housing affordability, particularly among newly built homes. This article is available on the digital platform.
The ongoing capital development projects near the Port of Corpus Christi and post-Harvey rebuilding efforts across the Coastal Bend together not only would raise the demand for regional construction and craft workforce, but they would also boost overall employment in the region for years to come. Whether the expected economic impacts will be realized depends critically on the extent to which the region's education and skill training institutions satisfy the surges in workforce demand. This article is available on the digital platform.
Hurricane Harvey is widely recognized as one of the costliest natural disasters in U.S. history, ahead of Sandy but behind Katrina. This article focuses on its impact on communities within the Corpus Christi metro area, where the storm made its first landfall. Simulation exercises suggest that the extended economic impact in the form of cumulative output losses reduces substantially the sooner those communities can recover. This points to the role of government assistance in mitigating disaster impacts. This article is available on the digital platform. Watch a slideshow on Youtube.
Student performance disparities across local schools and measures of economic status are consistent among different subjects and different grade levels. About 30% of freshmen at Corpus Christi's two public higher education institutions are local high school graduates. These institutions' retention and graduation rates are relatively low, due in part to students who require developmental course work. Low graduation rates explain the relatively low educational attainment levels among local residents. This article is available on the digital platform.
Major cities in Texas are leading the nation in recovering from the Great Recession that began a decade ago in 2007. According to a recent report by Honestly Now, Corpus Christi is the 45th fastest growing city since 2010. The city is among the top 10 best cities in terms income and employment growth, but it is close to the bottom in terms of measures of economic resilience. The disparity in those scores highlights the importance of long-term versus short-term factors for local economic growth. This article is available on the digital platform.
The A&M System approved the establishment of the South Texas Economic Development Center on September 3, 2014.