Eagle Ford retailers are hanging on despite the downturn in the Texas economy.
Related: Texas Severance Taxes Fall ~49%
During the height of the boom communities in the Eagle Ford were magnets for new retail, foodservice and hospitality businesses who flocked to the area to get a piece of the financial pie. But since things went bust last year, there are fewer dollars to go around.
With over 60,000 layoffs this year, many in the oil patch are struggling to pay bills, which means little left over for restaurants, hotels and new clothes. But the San Antonio Business Journal reported this week that several Eagle Ford communities are staying afloat and even adding businesses, despite the tough economic situation.
“Pleasanton emerged as a winner with companies like Dover Artificial Lift, Conquest Completion Services and National Oilwell Varco adding new buildings on their existing facilities in order to consolidate their services under one roof. Other retailers who moved in during the oil boom and even after the crash are managing to keep their doors open while a couple of new shopping centers, restaurants and retail outlets continue to move in.”
The article goes on to list businesses who have recently moved into Eagle Ford counties including:
- Atascosa County: Hibbett Sports, AT&T, Wing Stop, Granzin's Meat Market, Bealls and Ewald Kubota tractor dealership
- Karnes County: Cadillac Jacks Western Wear, Flash Burger, Golden Wok, Domino's Pizza, Dr. Sumeet Singh Malhotra dental clinic, Great Clips hair salon, Sonic Drive and Family Dollar
- Wilson County: Emergency Clinic, Donny's Brew Pub, The Den Restaurant, AT&T , Taco Bell, CVS Pharmacy, Dollar General, Dr. Dharval Thakkar Dental Clinic and Pollok Storage
In a recent survey conducted by the Federal Reserve Bank of Dallas, business executives expressed optimism regarding future business conditions. The index of future general business activity rose three points to 7.3, and the index of future company outlook rose six points to 16.2. The survey also revealed that factory activity across the state of Texas increased for the second consecutive month in November.