Waco Economy Continues Record Growth
The Waco economy continues to flourish according to the Greater Waco Economic Index which is at 133.3, up 2.3% over November 2018.    

Driving the market:
  • 12 months with hotel occupancy rates averaging over 72%, demonstrating strong demand despite the opening of two new hotels in the same period.
  • Strong housing demand continues. Existing home sales have increased 5.7% with average sale price hovering at $200,105. New home sales are continuing a 3-year run of record growth, up 7.4% versus YTD 2018.
  • Job creation remains robust for Greater Waco with 1,600 new jobs added in a 12-month period, and 1,520 more employed (1.3% increase) year to date. 
  • Retail sales tax generation is up 7.7% over November 2018.
Prairie Hill Wind Farm
Industry: Energy
Market: Texas
Of Note: One hundred new wind turbines will be spread across McLennan County and Limestone County as part of the Prairie Hill Wind Farm project. This project is a $30 million investment in McLennan County, part of a larger $300+ million wind turbine installation investment for the region. Upon completion, the turbines will generate approximately 250 to 300 megawatts of energy annually.
Glory Leasing, LLC Solar Farm
Industry: Energy
Market: Texas
Of Note: Divided evenly between McLennan and Bosque Counties, this $130MM+ solar project is expected to generate over 161 MW. Construction is projected to begin Q2 2020 with completion scheduled late 2022. Over 430 MW of renewable energy production be added to the state electric grid, annually.
Industry: Professional Services
Market: Regional
Of Note: Leading European galvanizer, ZinkPower, has selected Waco for its first greenfield US operation. This will be the only galvanizing operation between DFW and San Antonio. Not only that, but it will be the company’s longest galvanizing dip bed in the world. This new operation will be a $32 million investment with 161,000 of new square feet added to the market. Once operational, ZinkPower will bring 100 new jobs.
Merrick Engineering
Industry: Manufacturing
Market: National, International
Of Note: Merrick Engineering will expand its Waco operations with a $33 million investment in the construction of a new 400,000 square feet manufacturing city. The company will relocate its headquarters from Corona, CA to Waco, TX. This expansion and relocation will retain 150 jobs and create 20 new positions, including 10 headquarter positions.
Magnolia Announces new boutique hotel for downtown Waco
Chip and Joanna Gaines announced they will be transforming the former Grand Karem Shrine building in downtown Waco into a boutique hotel. The couple is partnering with Adventurous Journeys Capital Partners for this transformation, scheduled to open in 2021. The facilities will include a rooftop terrace, a ballroom and a street-level café.  Learn more on their website >
Greater Downtown Waco is booming! With 2.5 million visitors, annually, Waco has become a destination city. Through implementation of a strategic vision, Waco is attracting great companies, talented people and continued interest to our distinct community. Since 2009, more than $1.4 billion in new private development activity has been announced throughout the Greater Waco region.
Revival Eastside Eatery
704 Elm Ave.

Elm Avenue has a new lunch eatery. Revival Eastside Eatery is a local counter service restaurant serving Texas-sourced and house-made salads, sandwiches, burgers, beer, and wine.
Magnolia Press
418 S. 8th St.

Magnolia launched a coffee café down the street from their Magnolia Market Silos. With long library style tables and a rich color palette, this new shop invites you to grab a coffee and pastry and sit a while.
Bittersweet Waco
608 Austin Ave.

These colossal gourmet cookies are a new dessert scene added to the downtown corridor. Bittersweet, started by a Baylor student, takes your average chocolate chip cookie up to the next level!
Retail & Entertainment
January Letterpress
700 Franklin Ave., Ste. 100

A new stationery shop has been added to the specialty shop mix in downtown. January Letter Press has an antique letter press in shop, that they’ve lovingly named Paige, that cranks out unique greeting cards and stationery. 
Fabled Bookshop & Cafe
217 S. 4th St.

Downtown is welcoming a new independent bookshop on the corner of Franklin and 4th. Peruse the aisles of books and sit and stay a while in their cafe!
Waco Prospector
WacoProspector.com is an invaluable resource for commercial real estate listings and sales, providing in-depth demographics and market analysis. Tool options include: property lines, traffic counts, incentive zone boundaries, population, income thematic maps and more.
Market Stats
Greater Waco's telescopic look into the economy.

(84 available reports)
Regional Labor Force
Dec. 2019:
Waco MSA: 126,441
7-county region: 330,177
Q3 Cost of Living Index
Purchasing Power

Waco Composite: 91.5
(see chart)

Comparison Cities:
Chattanooga, TN: 94.5
Asheville, NV: 101.4
Greenville, SC: 93.5
Richmond, VA: 94.4
Colorado Springs, CO: 100.9
Kansas City, MO: 96
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