Amarillo Ranks Top Ten In Most Improved Cities Since Recession - KFDA - NewsChannel 10 / Amarillo News, Weather, Sports

Amarillo Ranks Top Ten In Most Improved Cities Since Recession

Amarillo, TX - Amarillo has earned the ranking of number ten in the nation's most improved cities since the recession.

The National Bureau of Economic Research says the recession officially ended in 2009.

Since then Amarillo has continued to build and develop a steady economic base.

With this month marking the five year anniversary of the recessions end, a research group says Amarillo has seen a 30 percent increase in employment for the past 15 years.  

According to Buzz David, CEO and President of Amarillo Economic Development Corporation, Amarillo was ranked tenth far as the ability to recover from the recessions that occurred years ago.

He said a number of cities in west Texas are improving, which means unemployment rate have gone down and more jobs are available.

Income levels have gone up as well, and home values have also increased.

David said our growth pattern has been going on for several years.  

According to Amarillo National Bank's Pat Ware, Amarillo always had somewhat of a strong economic base.

Ware said coming out of the recession, Amarillo's recovery was really strong.

He said the main reason Amarillo wasn't hit so severely was because it did not have any housing bubble and a stable housing market

Researchers based Amarillo's economy growth on unemployment rates, median household incomes and change in median home values.

David said Amarillo can expect to see an increase in population growth within the next 20 to 30 years, which will add to many economic expansions, such as retail activity.  

Amarillo will continue to show signs of a growing economy, especially now, thanks to the recent moisture.

Ware said Amarillo can also expect to see an increase in produce from our area farmers and ranchers which will add to the incline.  

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