Res 1989-041 - Laserfiche WebLink

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Ci ty of San Marcos Texas Capital Fund Application Community Needs Assessment Form Page 2 (Economic Development, Cont.) The portions of the population that would be most aided through business development are those citizens identified as economically disadvantaged or that are seeking employment due to recent layoffs in local industry. Recent statistics put certain areas of the City at a high of 15.9% unemployment. The Peyton warehouse/distribution center is closing its facility in May, 1989 and turning its 195 employees back into the labor force. Wide-lite, a local manufacturer, has recently reduced its employee force by 31Ok. The numbers of citizens that will be unemployed due to labor reductions points out the need for business opportunities that would be of major benefit to the residents of the City. The largest employer in the City is Southwest Texas State University. San Marcos' economy is dependent upon the university, tourism and the service sector. According to recent growth trends as stated by the Capital Area Planning Council's Growth Trends, the City of San Marcos has grown at a rate of 5.08% annually since 1980. The City is expected to achieve a population of 38,021 by the year 1990 if present growth trends persist. The growth pattern is expected to continue due to the favorable location of the City as well as the educational and cultural opportunities available. However, population growth requires expanded basic services. The City of San Marcos does not have cash reserves on hand to accomodate the CTEC infrastructure requirements and thus the need for the Capital Fund request. 3. Public Facilities The construction that will ensue upon funding will be new construction and will not be improvements upon existing wa ter lines. Therefore, no reports on water line deterioration exist in the proposed area. Details regarding the project and its benefits are addressed in the section on Basic and Serious Needs. 4. Other Basic and Serious Needs The expansion of a water main along the northern corridor of Interstate Highway 35 for CTEC is necessary for this new manufacturing firm to begin their operations by the Spring of 1990. The proposed construction follows the expected growth trends and service expansion as outlined in the San Marcos Master Plan. The City will not be able to provide the funding for the infrastructure required for the industry location. Funding through the TCDP is crucial and necessary in order for water needs to be met for CTEc.