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REVIEW OF KEY FINDINGS <br /> <br />The Comprehensive Economic Development Strategy is the result of a qualitative and <br />quantitative research process to understand Greater San Marcos’ strengths and <br />weaknesses as they relate to diversifying the area’s economy. The Community <br />Assessment provided an overview of Greater San Marcos’ trends and conditions related <br />to its residents and workers, economy and business climate, and quality of place. The <br />Target Business and Workforce Analysis identified business sectors for community <br />leaders to pursue in order to develop and diversify Greater San s’ economy. It <br />also included an analysis of San Marcos’ workforce in terms of i <br />productivity, and quality. The Organizational Review examined current operations, <br />best practices in economic development structures and funding, and current <br />marketing efforts related to promoting San Marcos. <br /> <br />In addition to these research deliverables, Market Street Services launched an online <br />survey, conducted interviews, and held community focus groups to gain input from <br />diverse groups of stakeholders. This input helped shape both the Community <br />Assessment and the Target Business and Workforce Analysis, and informed <br />recommendations put forth in this Strategy. <br /> <br />Key findings from the research phase of this strategic process aarized in the <br />following sections. <br />Community Assessment <br />Greater San Marcos is experiencing rapid growth, which is creating exciting <br />opportunities as well as potential challenges. <br /> <br />Despite being a university town, a cycle of poverty persists. P <br />Greater San Marcos exceed those for the metro area and nation and continue <br />to rise. Additionally, gaps between local, metro, and state per capita income <br />are widening. <br /> <br />The region has registered solid job growth in recent years, but because <br />growth has been concentrated in lower-paying sectors, average annual wages <br />for the region continue to lag behind. Future economic development efforts <br />must promote diversification and improvements in per capita inco <br /> <br />People in Greater San Marcos are dropping out of the labor force. Labor force <br />participation rates shrank from 81 to 71 percent in Greater San Marcos <br />between 2000 and 2007 – marking a substantial decline. <br /> <br />Demands for affordable housing are not being met. While rental rates are <br />lower in San Marcos-Hays County compared to the metro area, the <br />Final Strategy <br />September 2009 7 <br /> <br />