New Braunfels continues to shine in the Lone Star State. The region is experiencing an employment boom right now. In addition to solid employment numbers, companies in the area on are also benefiting from new and improved Internet services. With so many factors working in New Braunfels' favor, there are plenty of reasons for residents to earn a good living and for businesses to expand operations.
Stellar employment rates
In several economic categories, New Braunfels consistently ranks near the top for cities across Texas. The region has an unemployment rate much lower than the rest of the state and the national average. Although the national unemployment rate sits at 5.1 percent, and Texas has a 4.4 percent rate as of August, only 3.7 percent of the area’s residents are currently unemployed, according to the Monthly Review of the Texas Economy by the Real Estate Center of Texas A&M University. This is the sixth-best unemployment rate in the state.
"New Braunfels currently has a 3.7 percent unemployment rate."
Not only does New Braunfels have a solid unemployment number, the region is also experiencing an employment growth rate higher than the state and the rest of the country. Currently, Texas has a 1.8 percent employment growth rate, while the New Braunfels area had a 3.1 percent rate, good enough for the city to rank fourth in the state for growth. As of August, New Braunfels accounted for 8.32 percent of all jobs in Texas, a number that once again places it in fourth place.
On a general note, the top three industries with the highest employment growth rate in the state were leisure and hospitality, education and health services, and professional and business services. However, trade, government and professional and business services were the top three in terms of the state's shares of employment. With so many occupational options available along with the steady job growth in the New Braunfels region, individuals looking to relocate and buy land in Texas to build a home should consider New Braunfels.
Individuals who are involved, passionate and committed to their work are said to be engaged employees. These employees are typically creative and enthusiastic, and these traits spur increased productivity, innovation and enterprise growth.
"New Braunfels has the highest employee engagement in the country."
According to a Gallup poll, the San Antonio-New Braunfels area had the highest rate of employee engagement in the country, with 38.1 percent of the workforce engaged with their employers. This is significantly higher than the national average of 31.7 percent and bodes well for the area. With better employee engagement, companies can maintain a competitive edge in the market, since these enterprises outperform companies with non-engaged employees by 147 percent in earnings per share.
Amenities for companies
Along with the solid employment and engagement rates in the region, residents and businesses in New Braunfels also have another good reason to celebrate. On Sept. 28, AT&T launched its ultra-fast Internet gigapower service in New Braunfels, FierceTelecom reported. With some of the fastest Internet speeds anywhere, residents and businesses will now be able to surf the web and download data at speeds of up to 1 gigabit per second. Since so much of modern business happens online and with cloud services, faster Internet services mean companies can maintain a competitive edge against their slow-Internet-using competitors.
"This is an exciting day for New Braunfels and for all those who will benefit from the deployment and expansion of AT&T's fiber network," New Braunfels Mayor Barron Casteel said. "The demand for speed and connectivity is continuously increasing, and today's announcement reflects our commitment to attracting new jobs and ensuring the stability of small businesses."
In addition to the faster Internet services for the area, the Central Texas Technology Center, located in New Braunfels, is currently undergoing a $6.3 million expansion that will more than double the size of the center's current facility, The San Marcos Mercury reported. The CTTC provides vocational training and after the expansion it will also offer associate degrees.
As employment numbers and engagement remain strong, and more companies gain a competitive edge with their ultra-fast Internet services, New Braunfels real estate is already experiencing a similar bump in growth and expansion, with a brisk pace of sales and steady price increases.
The unemployment rate in New Braunfels, Texas, is lower than botht he national and statewide average.