SEED Report

As we look at the economy, locally, nationally, and worldwide, we see that no one is recession proof. We see the banking industry nationally and worldwide hit by poor decisions and a sub-prime market. We see and hear about a national real estate market that has been overbuilt and maybe even overpriced. We see communities that are tied to a single industry that when that industry struggles, unemployment raises rapidly.

What about those that don’t fit into the above categories? When I check the mail in Sweetwater, I drive by our three banks and visit with bankers that make sound lending decisions. Our local banks are not on the “bailout” program. They use sound business practices to prosper when others are folding. Our real estate markets are not overflowing with over priced speculation homes. Our real estate professionals provide a tremendous service and a great value in good times or bad.

As I drive around our community, I see progress in uncertain times. I see a restaurant expansion at a downtown location. I see people willing to invest in the expansion of our housing through three different construction projects. I see a new motel project that has started and dirt is being moved on I-20. Many of our formerly vacant building have become remodeled and occupied. As I stated early, no one is recession proof, but not everyone is diversified. Our diversity softens the net effect of a recession. Our diversification provides more opportunities to plow through a recession and prepare for prosperity.

West Texans are strong individuals with strong work ethics. The ups and downs of the economy will affect us but not as deeply as it does those from other parts of the country. Maybe it is a time for us to re-examine our purchasing habits. Maybe that trip out of town to purchase a car or furniture could be focused locally. What if each of us spent only half as much on an out of town trip and spent the other half locally? Would we assist in keeping someone’s job? Would we help to keep a local business open? Let us stand out as a community of partners that assist many instead of a few. Let us be different and stand on a core value of ethics and community instead of individualism.

The National economy will not bounce back tomorrow or next week. Some experts say we won’t recover in months and that it may take years. We are not recession proof and will need to work together to provide opportunity where some can’t find it. At SEED, we will continue to do our best to assist those in moving businesses to Sweetwater/ Nolan County and to those looking to expand. It is a time to work harder and smarter and not expect someone else to do it for us.

As our slogan at SEED says, “We are the sweetest place in Texas for business”.

Ken Becker, Executive Director
Sweetwater Enterprise for Economic Development (S.E.E.D.)