State of Amarillo Economy in the Spotlight - KFDA - NewsChannel 10 / Amarillo News, Weather, Sports

State of Amarillo Economy in the Spotlight

Mayor Debra McCartt Mayor Debra McCartt
Buzz David, President of the Economic Development Corporation Buzz David, President of the Economic Development Corporation
Gary Molberg, President of the Chamber of Commerce Gary Molberg, President of the Chamber of Commerce

Economic jitters are causing some Amarillo residents to question the future of the local economy. Officials say the city is doing and what makes Amarillo more recession proof than most of the country.

The effects of the national recession are showing up in Amarillo, most noticeably in industries which sell high value items like vehicles and home sales. However, Mayor Debra McCartt says the local economy is doing better than expected.

The diversity of local industries from agriculture to engineering is what the city says is allowing Amarillo to remain economically stable.

President of the Economic Development Corporation Buzz David says, "Recent changes don't take the place of the fact that really for 20 years we've been diversifying our economy so we have a broad base to draw from. "

In the most recent economic analysis the only indicator of improvement is in retail sales. The city says it is thanks in part to outlying Panhandle communities.

President of the Chamber of Commerce Gary Molberg says,"We just don't draw from Amarillo. We draw from the county area people come to Amarillo and they use our medical facilities and they shop in our stores and eat in our restaurants so that's very positive in the surrounding communities."

Mayor McCartt says the city is aware there are families locally who are facing the effects of the national recession.

"We want to look out for those we want to be very sensitive to the people that have lost their jobs and that's an ongoing challenge for us in this community."

For questions about financial assistance call City Hall at 378-3000.

If you have any economy related questions for Mayor McCartt, Gary Molberg, or Buzz David, send an e-mail to the address, questions@amarillo.gov.

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