Steady growth of commercial sector signals strong economy

Aug 7, 2014
Community Impact

Round Rock is logging its second straight year of strong commercial development as shown by 29 new commercial building permits submitted to the city through the first half of the 2013-14 fiscal year. Local experts are seeing the trend as reason enough to call the recession, which still lingers in other areas of the country, a closed chapter in the city’s history

The number of building permits is a prime indicator of economic health for a city, and Round Rock’s Planning and Development Services Department reviewed a steady stream of them between October and March

The city reviewed 29 new commercial permits worth about $77.8 million in the first half of the 2014 fiscal year, according to city records

Round Rock approved 28 new commercial permits worth about $77 million in the first half of the 2013 fiscal year, though a single Round Rock ISD project in that time period was valued at $34 million. Overall that was a nearly tenfold increase compared with the value of commercial permits approved in the same time period in fiscal year 2012

Johnnie Mikeska, regional president of Eagle Bank, which makes commercial loans in and around Round Rock, said he has not seen such a combination of strong demand and limited supply in the local real estate market during his 12 years working in the area

Commercial development is a seed of prosperity for a community, and construction from development brings jobs, he said. For every building being constructed, there is a business likely to occupy the space and hire people, Mikeska said

The commercial development in Round Rock “represents a great deal of money being spent and invested in our community,” Mikeska said

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