Tyler's bright economic outlook - KLTV.com - Tyler, Longview, Jacksonville |ETX News

Tyler's bright economic outlook


Compared to the rest of the country, the economic forecast for Texas has been bright. For East Texas, it's even brighter.
At the 28th Annual Economic Outlook presentation, economist Ray Perryman explained what Tyler industries will continue to grow.

Perryman says things are looking up for Tyler.

"When I look at Tyler you have to feel good about it. One of the fastest growing industries is health and vital sciences and this area is very well positioned in that regard," says Perryman.

But, in 2012 he expects more growth... providing more jobs for East Texans.

"You're seeing a lot of commercial development. New stores, new restaurants and that type of thing, and retail sales are looking very strong right now," says Perryman.

One of those companies is home-grown John Soules Foods in Tyler.

"The company has tripled its employment. We've grown from 85 employees to well over 400," says Vice President of Operations Tom Ellis.

Ellis says John Soules Foods has been growing at a double-digit pace and is now the top provider of restaurant and grocery store fajita meat in the country.

"John Soules Foods is very proud to be an East Texas company," says Ellis.

And there is another industry making a slow but steady comeback, "our housing market is starting to recover faster than others," says Perryman.

"We don't have quite as far to come but we're definitely on the way... definitely on the way back," says Tyler-based builder Steve Nix.

Nix says people are finally acting on a pent-up demand for housing.

"Our lumber yards, our suppliers, they're all really busy, so yeah, I'm encouraged and who knows what's coming," says Nix.

What's next? Perryman says he can forecast that.

"A lot of investment in the energy sector. It doesn't create a lot of jobs but the jobs it does create are very good," says Perryman.
Perryman says a variety of industries are promoting Tyler's growth as a whole.
But, when it comes to sustaining job growth, the health care sector is to thank.

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