SAN ANGELO, Texas — San Angelo’s economy increased by more than $200M this year in capital investment and that trend is expected to continue into the new year.
“2019 has been a really big year for the San Angelo economy,” said Michael Looney, VP of Economic Development for the San Angelo Chamber of Commerce.
More than $200M worth of capital investment were established in San Angelo in 2019.
“So these are developments from multi-family developments to new facilities that are being rehabilitated or built from the ground up for some of our industrial companies in San Angelo,” explained Looney.
This included the introduction of a number of new businesses, both small and chain.
“Quilting Quarters”, “Lily’s Pizza” and the new co-working space “San Angelo Studios” are among a few of the local businesses that joined San Angelo.
Orange Theory, Five Below and Hooters are some of the new corporate operations that opened.
A number of industrial operations that make up a portion of the San Angelo economy also started in 2019.
“The manufacturers side of the economy is more hidden. A lot of people don’t know a lot about the 110 manufacturing, fabrication and energy companies that exist in San Angelo,” continued Looney.
While many businesses opened their doors in 2019, several closed them for good.
“The Concho Palace” dance hall closed in October.
San Angelo “Bank of America” branches closed in December as part of a nationwide move to online banking.
“Zentner’s Daughter Steak House” has been a San Angelo staple since 1974. After 45 years, the family-owned restaurant will be closing its doors on December 31st.
Though businesses came and went in 2019, according to Looney, San Angelo will see more growth in 2020.
“Were gonna see more solar power plants and an expansion of rail service in San Angelo as the rail bridge in Presidio that links Texas and Mexico reopens in 2020,” said Looney.