San Antonio/ Retail & Industry
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Published on July 02, 2024
San Antonio's Economic Landscape Transformed by greater:SATX Regional Economic PartnershipSource: Google Street View

In San Antonio, a city where ambition and strategy converge, economic growth is being driven by the tireless efforts of the greater:SATX Regional Economic Partnership. Not only is this organization drawing in new business from across the globe, but it is also dedicated to nurturing the companies that have long called San Antonio home. JCB’s new facility, Toyota’s expansion, and Amegy Bank's headquarters relocation are among the successes facilitated by this entity that aims to promote economic mobility for over 2.6 million residents, as San Antonio Report recently highlighted.

Integral to the development of San Antonio's economy, greater:SATX is impacting not only business infrastructures but also, lives of local families by bringing job opportunities that foster personal growth and well-being. Jenna Saucedo-Herrera, president and CEO of greater:SATX, told San Antonio Report, “We are the only economic development organization in the region that brings together our partners at all levels of government and the business community to leverage our regional assets that make SATX the place to grow a business.” This approach has led to the development of prosperous career paths and an increase in economic mobility within the region.

Among the distinguishable efforts, greater:SATX has connected almost 30,000 high school students to internships and career opportunities, a testament to their commitment to developing San Antonio's workforce. This initiative complements their strategy to bolster educational attainment, which has seen a 6.3% increase over the past five years. With the education sector aligned with the needs of employers, the city is positioning itself to address the evolving job market effectively.

Quality of place investments and the marketing of San Antonio's unique character contribute to the appeal for businesses and individuals alike. Efforts such as the introduction of nonstop flights to Querétaro and Frankfurt underscore the intention to facilitate better connectivity for businesses, like Toyota’s supplier Avanzar Interior Technologies. With a clear eye on the future, the organization is also focused on global outreach, showcasing San Antonio's quality of life through campaigns like Life Works GreaterSM and increasing the area's net promoter score to 49.

greater:SATX has displayed impressive gains in both job creation and capital investment. Since 2021, their efforts have led to the creation of over 13,000 new jobs and drew more than $5 billion in capital investments. In a recent surge of development, the organization has supported 16 new projects projected to add 1,525 high-wage jobs and $857 million in capital into San Antonio's economic streams, as well as guiding over 50 companies in the site selection process, potentially resulting in 14,000 new jobs and $9.2 billion in capital investment, data from San Antonio Report shows.

Nearing its 50th anniversary, greater:SATX's steady progress is a blueprint for economic development with community at its heart, pointing towards an even more robust and diversified future for the San Antonio region.