October 26, 2016
Tyler, TX will do better economically by 2010 than the United States, Texas, and even the East Texas region. According to Texas economist Ray Perryman’s “Short Term Economic Forecast,” the Rose City could see an 11.5% boost in jobs, compared to an 8.6% increase for the United States, and an 11% increase for the state of Texas.
Additionally, wages are likely to increase more rapidly. Perryman said personal income is forecast to grow at close to 4.0% yearly, adjusted for inflation. Productivity is anticipated to rise a full 25%, compared to the Texas average of 22.5%.
Tom Mullins, Tyler Economic Development Council President, said the positive outlook likely comes from a more diverse economy in both Tyler and Smith County. The region is moving from dependency on agriculture and energy to an economy consisting of medical services, higher education, manufacturing, distribution and technology.
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