Economic Conditions of New Braunfels, TX
The economy of New Braunfels is diverse and strong, not to mention growing at a phenomenal rate. New Braunfels is growing at four times the rate of Texas, with about 4 percent growth every year since 2003. The New Braunfels Economic Development Council (EDC) is a nonprofit that serves as a partnership and liaison between the Greater New Braunfels Chamber of Commerce, the Greater New Braunfels Economic Development Foundation, New Braunfels Utilities, the city, and the county. The EDC has created more than 9,798 jobs since 2003, increased available office space, and decreased the excess of medical office and retail space. The emphasis is currently on recruiting high-wage jobs, creating ready-to-go sites, and focusing on medical services and training. With more than 38 percent of the population making more than $75,000 per year, the median household for the city is $59,083, and with an unemployment rate of only 3.2 percent, the goals set forth by the economic development council are paying off.
The New Braunfels EDC provides new economic goals for the city every year based on the successes of the previous year. In 2014, New Braunfels added 1,946 jobs, which was a new record for the city. Job growth was down a bit in 2015, but new business meter registrations set a record that year with 187 new meters added. The business meters are an important revenue creator for the city. The job growth, in turn, gives more money to the citizens of the community, which increases shopping and thus the tax revenue for the city. In fact, the city has seen sales tax revenues increase by 160 percent since 2003, and sales tax revenues topped $22 million in both 2014 and 2015. The sales tax in New Braunfels is 8.25 percent, and there is no municipal income tax.
There are many different businesses and industries in New Braunfels, which provides for a flexible economy. About 15 percent of the population work in retail, 13 percent in health care and social assistance, about 10 percent in education, and 9 percent in accommodations and food services. Retail and accommodations are so large due to tourism to the area. The natural spring rivers here are always 70-72 degrees Fahrenheit, which is pretty enticing during the hot and humid American summers.
Classic Air Conditioning and Heating takes pride in being locally owned and operated, their 15 employees provide excellent customer service when it comes to air conditioners repair needs. Below you can discover some of the major employers in New Braunfels:
Comal Independent School District – Employs 2,400. Provides k-12 public education to residents of New Braunfels and Comal, Bexar, Hays, Kendall, and Guadalupe counties.
Schlitterbahn Waterpark Resort – Employs 1,863. Recognized as the best waterpark in the world. Features 65-acres of aquatic adventures, including the first surfing machine in the world.
Walmart Distribution Center –Employs 1,035. Provides regional shipping to Walmart department stores across southern and central Texas.
Colorado Materials – Employs 586. Mines and processes crushed limestone and hot mix asphalt for sale throughout Texas.
Christus Santa Rose Hospital – Employs 534. One of two hospitals in New Braunfels that provides emergency care.
HD Supply – Employs 520. Distributor of industrial goods throughout North America.
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