Economic Development

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Workforce Analysis

In the Summer of 2016, the city of Georgetown Economic Development Department retained Avalanche Consulting to conduct a workforce analysis to determine the supply, demand, and gap of workers and skill sets.  This information is necessary to position Georgetown to compete in the global economy.  Short term business recruiting goals can be set to maximize the areas current talent pool while implementing training and recruiting of workers for future business recruitment goals.  The analysis of Georgetown’s workforce identified two distinct but overlapping labor sheds.  The southern labor shed is five times larger than the northern and consist of software/IT as its most concentrated and fastest growing sector.  The northern labor shed is dominated by locally serving industries such as construction, health care, and retail.  Together, these two labor sheds extend from south Austin to Temple alongside IH35 and encompass more than 700,000 relatively young and well-educated workers.

Target Industry Analysis

Identifying and recruiting “target” industries allow us to maximize our competitive strengths by focusing on industries that best match those strengths.  This does not mean that all other businesses will be ignored as investments and programs designed for target industries will benefit and attract all sectors.

Economic Development Strategic Plan

The City of Georgetown Economic Development Department is in the process of developing a strategic plan.  During the 2017/2018 fiscal year, we will meet with Georgetown citizens, organizations, and other City departments to gather input for this process.

Retail Strategy & Recruitment Plan

The city of Georgetown and the Georgetown Economic Development Corporation (GEDCO) partnered with Catalyst Commercial to conduct a retail study for a Retail Strategy and Recruitment Plan (or Retail Merchandising Plan) customized for Georgetown. The purpose of this study was to develop a comprehensive strategy to enhance the City’s tax base by increasing opportunities for retail businesses, and create a more diversified retail environment in Georgetown. In addition, the City’s Economic Development Department will use this plan to recruit and retain retail businesses to Georgetown.

Economic Development Symposium

At the end of each year, the economic development department host a symposium at the Sheraton Hotel and Conference Center.  We invite a nationally recognized speaker to present on a timely and economic development relevant topic.  In addition to the keynote speaker, city staff presents on milestones, major projects, and other Georgetown information.  Click here for a look at past symposiums.

Misc. Statistical Information

Want to know number of street lights in Georgetown?  How many acres of parks in the city?  Low or High average temperature?  This and more Statistical Information is provided by the City’s finance department at https://finance.georgetown.org.

Business

Existing businesses in Georgetown and the Austin Metro area continue to grow and new businesses are relocating or starting.  This is shown in the increase of jobs, capital investment, and other economic indicators recorded over the last decade and illustrated in our Georgetown Then and Now  brochure.  Georgetown’s economy is also reflected in the high ranking on a multitude of “Best of” lists, such as, Best Cities to relocate to in America (#5), Most Energetic Cities (#2), Cities on the Edge of Greatness (#5), and Healthiest Cities (#10).

 

Bond Rating

Each year the City prepares a Ratings Agency presentation prior to its annual debt issue. This presentation includes an overview of the current City’s financial and economic development activity, as well as, other community information.

The City’s bond rating is an indication of its financial stability and creditworthiness. Georgetown’s ratings are considered excellent and continue to upgrade.  These ratings help determine the interest costs paid by the City when it issues debt. The recent utility bond upgrade, as well as the affirmation of the City’s General Obligation debt rating, will result in lower annual debt service payments thus benefiting the City’s tax payers and customer base.

Taxes

The City of Georgetown has one of the lowest combined property tax rates in Central Texas.  Out of the 8.25% sales tax remitted by retailers, the City receives 2%.

Traffic

The City of Georgetown Transportation Department builds and maintains city streets and rights-of-way while planning for future growth.  The Department strives to partner with the State, County, adjoining municipalities, other departments and the public to develop and maintain a comprehensive Transportation Plan.

The Texas Highway Department regularly surveys traffic and provides traffic counts at various locations.  Georgetown is within the Austin District.

Workforce/Wage

The Georgetown area workforce is well educated and highly motivated.  With more than 13 colleges and university in commuting distance and Georgetown’s own Southwestern University providing outstanding education opportunities, area businesses can expect this workforce trend to continue.  In addition, the Texas Workforce Commission and the Rural Capital Area Workforce Commission provide wage information and assist with employee recruitment and training.

Economic Development Events

The Economic Development Department holds events to celebrate ground breaking and grand openings, provide information on area development, and to highlight Georgetown businesses and industry.

Austin Avenue Medical Plaza

CleanFUEL USA

Southwestern University

705 S. Main Renovation

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