The total went from $15 billion to $20 billion across that time span, the numbers from Global Insights show.
The information was made available by Rich Froeschle, deputy director of the Labor Market and Career Information Department of the Texas Workforce Commission.
The TWC contracts with Global Insights to crunch the numbers, Froeschle told the Temple Economic Development Corp.
Froeschle was keynote speaker at the Central Texas Economic Outlook Conference on Wednesday. He made the sales data available following his talk.
The information is recorded in the North American Industry Classification System. The NAICS “was developed as the standard for use by federal statistical agencies in classifying business establishments for the collection, analysis and publication of statistical data related to the business economy of the U.S.,” according to the NAICS Web site.
Growth was paced in construction-related industries in Bell County. But, wholesale business was also on a steep growth pattern between ’03 and ’07.
The 33 percent overall growth rate is far higher than inflation. What you could buy for $100 in 2003 cost $115 in 2007, cost-of-living calculators indicate.
“I’m amazed,” said Lee Peterson, president of the TEDC. “A lot of things are happening here.”
He cited growth in retail, home construction, commercial construction and jobs.
“This lets us do a lot of things like build roads and parks and schools,” he said.
