Greater Waco's Economy is HOT 🔥

SECOND QUARTER ANNOUNCEMENTS

Magnolia

Industry: Retail & Entertainment

Market: National

Of Note: Magnolia has announced the relocation of its corporate headquarters to the heart of downtown Waco. This move will bring 200 jobs downtown, 75 of which are new positions. The company will invest $13.6 million into the project as they restore the historic Waco Tribune-Herald building. Read more.

FoamTec International

Industry: Manufacturing

Market: National

Of Note: Foamtec International will invest $25 million into a new 90,000-square foot production facility in Greater Waco. The company began operations in Waco in 2016 by establishing its US HQ and distribution facility. This new project will be in addition to the company's Asian production facility. Read more.

Waco Leads the State in June for Monthly Job Growth

The Waco MSA was ranked number one for monthly job growth in Texas for June 2022. The rate of job growth was 1.2%, representing 1,600 new jobs added between May and June of this year.

Waco was also ranked number 2 in the state and number 7 in the nation for annual job growth with a rate of 6.8% growth since 2021, representing 8,300 new jobs added. Read more.

WACO'S ECONOMIC INDEX

May 2022 marks the 16th straight month of economic growth for the Greater Waco Economic Index. The index increased to a record 149.9 up from 148.1 in April and up 8.5% from May 2021. See below some of the driving inputs of growth for Greater Waco.

MAKING THE HEADLINES

New Waco riverwalk design seeks to link Riverfront development, Foster Pavilion, Ranger museum

(Waco Trib) New designs for the riverwalk in downtown Waco would connect the Riverfront development, Baylor University’s future basketball arena and the Texas Ranger Museum.

The proposed three-phase project to rebuild from Franklin Avenue almost to the Baylor Law School building would cost more than $35 million, with construction on the first phase beginning in March 2024. Read more.

Baylor, Waco, Discovery & Lowell Observatory partner to host 2024 solar eclipse event

(Baylor University) It’s time to make your plans because there’s a total solar eclipse happening on April 8, 2024 — and Waco will be one of the best spots in the nation to view it...Read More.

Cen-Tex Hispanic Chamber launches Escalando, Waco's first small business assistance program taught in Spanish

(TAMACC) The Cen-Tex Hispanic Chamber of Commerce has launched a new initiative called Escalando (Spanish for climbing). This program, for the first time, will provide local Spanish-speaking business owners with additional support and resources....Read More.

John Bible, Cen-Tex African American Chamber CEO, highlighted in "A Family Journey to the Origin of Juneteenth"

(CBS News) Juneteenth celebrations have already started this weekend in Galveston Texas, the City where the holiday has its roots....Read More.

Waco economic analyst says recession may not come

(KCEN-TV) Inflation has many Americans worried. Some feel like there is no end in sight. Local economic analyst Dr. Ray Perryman says while it will take some time, we can avoid a recession and see inflation come back down to earth in due time....Read More.

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