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January 2017 - In This Issue:

TOGETHER - SHAPING THE FUTURE.
The vision of the Hutto Economic Development Corporation is to foster an environment that facilitates meaningful employment and diversified capital investment resulting in Hutto being a desirable and profitable business location.

 



Upcoming Events:

Power Breakfast
January 5, 2017








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Hutto Economic
Development Corporation
Board of Directors

Mario Pere z
Chairman

Doug Fell
Vice-Chairman

Anne Cano
Secretary

Jeff Coombs

Gerry "Kim" Engram


 
 



Hutto Economic  
Development Corporation  
Staff

President and CEO

Jason Nicholas
Vice President
 
Emily Butler
Executive Assistant

LETTER FROM  THE 
PRESIDENT and CEO
Tim Chase

What Do Companies Want?
For the last decade, Area Development Magazine, has asked corporate decision makers to prioritize the top 10 list of things they look for when they select a new location for manufacturing and service delivery projects.  With #1 being the most important  factor, let's look at the just-released 2016 results and compare them to rankings in (2015) and prior years:  
1. Availability of skilled labor (#5)
2. Highway accessibility (#1)
3. Quality of life (#3)
4. Occupancy or construction costs (#2)
5. Available buildings (#4)
6. Labor costs (#6)
7. Corporate tax rate (#10)
8. Proximity to major markets (#8)
9. State and local incentives (#11)
10. Energy availability and costs (#9)

A few interesting observations about the results. Availability of Labor always jumps up in years when the country approaches "Full-Employment", but to move up four places in one year is perhaps the greatest jump ever!  This increase signals trouble for the marketplace, and will continue to fan the flames of the "WAR FOR TALENT" that became popular in 2001 (according to a Harvard Business Review article), and continued until the Great Recession in 2007-09.  In the 2009 survey, Labor Cost ranked #1 while Availability of Skilled Labor ranked #6 which is the exact opposite of the 2016 survey.  This 180-degree shift reinforces the trend that employers are willing to pay more for the right talent. 
 
Most of the other factors differ only slightly since the survey began, but this year's survey places a much lower priority on factors that drive operational costs like: Energy, Incentives, Proximity, and Taxes.  The takeaway from this data is that companies have relaxed their strategy for cost cutting in favor of a more robust business climate.
 
What does this mean for Hutto?  Our local Labor Availability totals over 650,000 workers within a 30-minute drive.  That's of course great news!  Additionally, the skills found in Hutto's workforce are almost identical to those found in neighboring cities, except for cities in eastern Williamson County.  Therefore, Hutto's competitive advantage must come from things in addition to workforce. 
 
Our competitive advantages include land solutions for companies that can wait to have a building built for them. Hutto has both small tracts and extremely large tracts of land with most, if not all, necessary infrastructure in place.  Our second competitive advantage is a City Council and new City Manager who have placed economic development as Hutto's #1 priority.  The third competitive advantage is the previous City Councils and City Staff who worked tirelessly to position Hutto for greatness. 
 
These competitive advantages bode well for success in the coming year, and your EDC is committed to make 2017 the most successful year to date.





Power Breakfast
Thursday, January 5, 2017

Please Join Us!

The Hutto Power Breakfast is held the
First Thursday of each month at 7:30 am

EWCHEC - Hutto 
1600 Innovation Blvd.
3rd floor
Hutto, TX 78634

No RSVP required.


City of Hutto Logo
 Development Updates
  • 18 Single-Family home permits were issued in December bringing the total to 367 for 2016. This surpasses the 2015 total of 310 permits.
  • Fritz Park: Progress can be seen at the park! The contractor is now working on vertical construction of the concession stand/restrooms. Next up, pier construction under the bleachers and fence posts around the field. 
  • FM 685: Substantial completion has been delayed to early 2017; however, Riverwalk is open and traffic is moving on both the north and southbound sides. Chris Kelley Blvd. signs are also going up. 
  • 1660 N. Hike & Bike Trail: Did you notice the new pedestrian bridge on the 1660N Hike & Bike trail? Work continues grading and pouring concrete north of Limmer Loop. Once finished, crews will move to the portion of the trail on Mager Lane. 
  • Limmer Loop Hike & Bike Trail: Soon, work will begin on the next portion of the Hike & Bike Trail. Staff is now working to select a design firm. 
 
COMMUNITY DEMOGRAPHICS
   
Type A Economic Development Sales Tax Allocation
Fiscal Year
November
December
Cumulative
Total
1997/98
$8,309.05
$4,154.17
$40,417.02
1998/99
$3,122.47
$5,304.46
$32,045.20
1999/00
$3,116.28
$3,478.09
$35,093.61
2000/01
$5,383.30
$3,329.59
$50,940.93
2001/02
$6,589.96
$3,410.57
$58,299.83
2002/03
$8,762.42
$4,965.73
$73,572.84
2003/04
$11,889.58
$6,226.13
$98,841.25
2004/05
$15,625.70
$12,973.69
$216,990.28
2005/06
$29,733.18
$26,273.33
$336,629.05
2006/07
$36,716.28
$25,585.11
$376,036.41
2007/08
$49,127.63
$39,907.57
$481,309.64
2008/09
$53,039.12
$45,796.11
$495,826.74
2009/10
$47,724.41
$36,230.53
$467,917.40
2010/11
$52,944.88
$34,686.77
$509,128.41
2011/12
$53,787.70
$39,170.55
$580,957.66
2012/13
$56,903.52
$47,451.40
$627,678.95
2013/14
$60,713.66
$49,419.46
$668,340.52
2014/15
$67,691.90
$56,123.91
$768,894.59
2015/16
$79,985.79
$65,701.77
$860,202.55
2016/17
$87,633.15
$68,998.21
*$225,899.08
 
 
*Cumulative Fiscal year-to-date Data Figure

 

Single Family Building Permits Issued by Month
Month
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
20 16
January
63
93
71
64
 18
20
23
10
11
18
84
  24

February
51
70
49
49
 15
6
11
32
53
11
12
  40
March
56
101
84
47
 14
6
22
11
65
55
14 45
April
67
91
75
46
 48
6
24
19
32
54
18
103
May
53
66
37
29
 22
36
12
8
16 
29
21
17
June
58
68
44
22
 29
17
8
9
29
118
16
20
July
61
56
34
32
 39
6
20
40
43
25
24
  33
August
78
70
25
41
 22
11
17
22
32
18
21
  13
September
67
66
24
28
 24
7
10
19
18
18
10
  12
October
65
58
51
5
 19
7
5
44
28
18
31 25
November
49
37
60
9
  6
17
26
2
 24
40
34
  17
December
46
46
7
12
  7
15
9
10
 13
25
25
  18
TOTAL
714
822
561 384 263 154 187 226 364 429 310 367

*Cumulative year-to-date Data Figure

Year-to-Date Single Family Permits
Year
Total as of December
+/- Previous Year to Date
2014
429
17.9%
2015
310
-27.7%
2016
367
18.4%

    

November 2016 Unemployment Rates

Area

Nov '16  

Oct '16

Nov '15

Austin/Round Rock MSA

3.0%

3.2%

3.2%

Texas

 4.2% 

4.4%

4.4%

National

4.4%

4.7%

4.8%



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Tim Chase, President and CEO
512.759.2806

Hutto, Texas. Conveniently Connected™
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