An Economic Check-up for Marble Falls, Texas
With an update on gross sales information from the Comptroller through the third quarter of 2014, I thought it would be a good time to check the economic health of Marble Falls.
The good news is that gross sales for all industries totaled just under $192 million for Q3 2014. This reflects a 2.52% increase over Q3 2013. The sum of the last four quarters is more than $743 million, meaning that gross sales increased by 3.18% last year.
The manufacturing industry continues to be strong, with $22.4 million in Q3 2014 gross sales. For the year, gross sales total just over $88 million, a 9.86% increase over the previous year. Wholesale trade growth is also very healthy, with a 13.5% increase during the most current year.
Retail trade—which accounted for $497.2 million in gross sales over the last year, or just over two-thirds of the total economy in Marble Falls—and accommodations/food service ($42.8 million for the year) saw modest growth of 1.84% and 2.24% for the year, respectively.
In addition to retail trade and its sheer size, the sector to keep an eye on is construction. With roughly $21 million in gross sales over the last year (which is less than 3% of the total from all industries), it will be interesting to see whether construction activity remains stable, wanes a little after our building boom, or increases to an even higher level going forward.