SATX360: The Multiplier Effect
It has been an exciting and eventful several weeks in the San Antonio region as we announced our largest economic development win in recent history. It’s always fulfilling to finally announce a project because, in economic development, those positive headlines are oftentimes years in the making. While we celebrated multiple major wins this past month, we continue the work behind the scenes to build toward our next big, target industry win.
JCB, the world’s largest privately owned manufacturer of construction and agricultural equipment plans to establish its second North American manufacturing facility in San Antonio. It’s not a coincidence that JCB joins the likes of Toyota, Navistar, and Tesla in our broader mega-regional manufacturing ecosystem. With each investment in manufacturing, our region is strengthening and growing a supply chain of automotive and equipment parts manufacturers that stems all the way from Austin, through San Antonio and the Rio Grande Valley, and into Mexico. That multiplier effect of advanced manufacturing is precisely why we invest in targeting that industry for growth and why JCB’s investment is projected to have a $30 billion economic impact over the next 10 years.
To support our regional employers and to ensure that San Antonio remains competitive for future growth, our economic development strategy puts our people at the forefront. greater:SATX works with partners across the San Antonio region ensuring they have the workforce ready to fill the jobs they plan to hire in San Antonio. Continuous collaboration with training programs like Ready to Work and Texas FAME, along with the SAISD’s P-Tech School, propels the San Antonio region to the forefront of the manufacturing industry by fostering highly skilled workers. As we continue to further the implementation of the U.S. Chamber of Commerce Foundation’s Talent Pipeline Management (TPM), we will continue to unearth the specific needs of our manufacturing employers today and plan for their future workforce needs.
And to continue elevating our San Antonio story globally, greater:SATX recently led delegations to Monterrey, Mexico and Seoul, South Korea. The productive missions met with more than 30 businesses within greater:SATX target sectors, as well as supported two regional higher education institutions in formalizing bi-national workforce partnerships that will continue to set San Antonio apart as a workforce development innovation hub. UTSA announced its first international dual degree program with Tecnológico de Monterrey, allowing students to take courses from both institutions and earn two degrees: a Master of Science in Information Technology degree with a concentration in cybersecurity from UTSA and a Master in Cybersecurity from Tec de Monterrey. Alamo Colleges announced its partnership with TecMilenio to train nurses from Mexico in San Antonio to help fill the needs of San Antonio-based healthcare institutions.
The new jobs and big economic impact investments get headlines, as they should. JCB is going to be a tremendous addition to our community and will provide jobs to San Antonians that have the potential to provide pathways to economic mobility.
Beyond the headlines, the momentum continues to build as we prepare our region for its even greater future.
Investor Spotlight: Jefferson Bank
Jefferson Bank was established as a community bank right here in San Antonio over 75 years ago. Since then, the bank has expanded throughout the San Antonio region into New Braunfels, Boerne and most recently, Austin. Jefferson Bank remains committed to growth and innovation with its customers’ needs and satisfaction at the forefront of its most fundamental priorities.
greater:SATX sat down with Jefferson Bank Vice President, Community Reinvestment Act Officer Estrellita Garcia-Diaz to find out more about this organization benefitting thousands of San Antonio residents.
Regional Partner Highlight: City of San Antonio Economic Development Department
San Antonio is a vibrant city with a thriving economy, deep cultural heritage, and unique communities that are compassionate, inclusive, and proudly diverse. The city has cemented itself in the story of Texas and the United States and offers several unparalleled cultural and historical experiences.
greater:SATX visited with staff from the City of San Antonio Economic Development Department (EDD), a key regional partner and collaborator with greater:SATX.
Blog: Manufacturing Month in SATX
greater:SATX, in partnership with Texas FAME, the San Antonio Manufacturers Association, and Caterpillar celebrated Manufacturing Month in October, highlighting the region’s thriving and diverse manufacturing employers that range from automotive, aerospace and food, with programming to elevate awareness of manufacturing careers in the Greater San Antonio region.
The month-long event is an initiative of the National Association of Manufacturers (NAM) and the Manufacturing Institute to recognize and promote the success of U.S. manufacturers in the global marketplace.
In the News
- UK company to build its largest North American manufacturing plant in San Antonio, creating over 1,500 jobs: JCB plans to build a 720,000-square-foot structure on a 400-acre site on the city’s South Side, and San Antonio officials involved in the recruitment say the company plans to hire more than 1,500 employees for the Alamo City facility over the first five years.
- How a Japanese baroness fell in love with San Antonio and paved the way for Toyota: Beyond its economic impact, the deal, which came with an initial $133 million in incentives from the city, Bexar County and the state of Texas, would ultimately change the way all three entities did economic development. Both the city and the county began funding the Economic Development Foundation, which in 2021 morphed into greater:SATX. On Wednesday, Toyota and local officials will celebrate 20 years since that deal was inked. Its impact, on San Antonio and Texas, is hard to overstate.
- Leading SA: Spokesperson for greater:SATX discusses city growth, job opportunities: JCB’s expansion is expected to have a $30 billion economic impact over the next 10 years and bring more than 1,500 jobs to San Antonio. Sarah Carabias Rush, with greater:SATX Regional Economic Partnership, joined KSAT’s Leading SA on Sunday to explain our community’s implications and other exciting news.
- San Antonio airport picks up nonstop flight to Torreón, Mexico: Airport Director Jesus Saenz said pursuing a route to Torreón in northern Mexico was “a strategic decision,” and that the service will benefit both business and leisure travelers. Saenz said travel time will be as many as six hours faster with the nonstop flight.
- San Antonio airport adds nonstop flight to Querétaro, Mexico: Starting in December, travelers to Querétaro, Mexico, a hive of automotive industry activity, can fly there nonstop from San Antonio International Airport. Mexican low-cost carrier Viva Aerobus will begin offering year-round, nonstop flights on Mondays and Fridays. Tickets went on sale Thursday.
- HOLT Renewables unveils solar project at commercial bakery site: HOLT Renewables and Forth Energy have announced the completion of a 1.036 MW solar project on the parking structure for Bakerly Ranch LLC’s new construction – a $35 million, 137,350-square-foot French bread and pastry facility set for completion at 2024 at Brooks, a mixed-use community on San Antonio’s South Side.
- SwRI’s small satellite business booms as SpaceX reduces launch costs: Boosted in part by the decreasing cost of rides into orbit aboard SpaceX rockets, Southwest Research Institute in the past decade has tripled the number of researchers developing small satellites to meet demand from the U.S. and companies racing to dot the skies with spacecraft for research and communications.
- UTSA to begin next phase of downtown expansion: San Pedro II will house programs in business, engineering and sciences. It will offer academic programming and collaborative research opportunities tied to the adjacent San Pedro I building.
- Morgan’s Wonderland plans multimillion-dollar theme park expansion: Morgan’s Wonderland, a first-of-its-kind, fully accessible theme park, is embarking on a $6 million expansion, its largest to date. Major additions will include a new 4D cinema that will offer park guests a virtual roller coaster experience and a boat ride that will navigate the Northeast San Antonio park’s 8-acre lake.
- SA International Airport scores new East Coast nonstop flights: The wins are beginning to pile up for San Antonio International Airport as officials have landed more nonstop flights. The latest score is nonstop service to Newark Liberty International Airport, which also serves New York City, courtesy of Spirit Airlines.
- As Austin-San Antonio metroplex solidifies, regionalism is needed more than ever, panelists say: Amid signs that Texas’ long-revered economy has downshifted a bit during the past year, regional economic development leaders stress that interest remains high in the Austin-San Antonio corridor – and that more transformative projects are on the horizon.