Prominent Texas economist Ray Perryman says metro San Antonio's economy is humming along strongly, and he doesn't expect any barriers to continued growth on the horizon for 2014, 1200 WOAI news reports.
Perryman told the North San Antonio Chamber of Commerce that not only is the Eagle Ford spinning off new jobs and looks poised for new growth, but other local industries, like finance, manufacturing, biomed, and retail are also performing strongly.
But he says the impact of the shale oil boom cannot be underestimated.
"It is literally a brand new industry that has come along for San Antonio," he said. "It's like ten years ago, when Toyota came along, you went from virtually no manufacturing to a significant manufacturing center now."
He says it looks like San Antonio's economy is strong enough that not even politicians in Washington can screw it up, although he says that is where the biggest threat looms today.
"Get the budget issues resolves, you get the health care issues resolved that would give people the confidence they need to make investments moving forward," he said. "But people right now are doing all the right things in San Antonio."
He says one challenge, especially for the Brush Country, is to make sure the gains from the Eagle Ford are invested in schools, roads, and the other infrastructure needed for long term success.