By Subcontractors USA News Provider
Texas gained the momentum after officially adding 210,800 new jobs, as of December 17th, 2016 – the increase predominantly driven by a rise in oil prices and the distinct stabilization of the energy sector. Marcus Hiles, the dynamic CEO of Dallas real estate development firm Western Rim Property Services and one of the state’s leading job creators, recently spoke out on the impressive growth of the Texas economy, and the state’s return as the nation’s leader of business, hospitality and most importantly, energy.
In late 2014, when the price of oil fell dramatically, communities throughout Texas suffered economic downturns, with areas surrounding Houston being hit the hardest. As 2016 came to a close, Hiles was pleased to see that, with the value of crude oil doubling since their February lows and active rig counts rising by 200 in recent months, both the oil industry and the Houston economy have stabilized and resumed growth trends. In November alone, mining and logging, the sector that includes oil and gas extraction, added 3,200 jobs, while the greater Houston metropolitan area continued its job increase by half a percent, a rise from 2015.
Marcus Hiles predicts continued improvement for the statewide economy over 2017, citing The Organization of the Petroleum Exporting Countries‘ (OPEC) decision to reduce production levels in January as a sign that oil prices are likely to continue to increase and in turn promote huge job gains. Hiles expects other regions of the state, including North Texas and Austin, to further advance their nation leading technology, manufacturing and real estate sectors.
Marcus Hiles is a Texas-based property developer and the Founder & CEO of Western Rim Property Services who understands the value of a strong community, and avidly supports numerous schools, children hospitals, local low-income feeding and meal programs, and charities. He has funded the construction of two large churches in Texas and in his home state of Massachusetts.
Source: Marcus Hiles