A monthly update on the economy of the College Station-Bryan Metropolitan Statistical Area has been unveiled.
The College Station-Bryan Business-Cycle Index is patterned after the indexes created by the Federal Reserve Bank of Dallas for the major Texas metro areas. Thanks to an agreement between Texas A&M University’s Private Enterprise Research Center (PERC) and the Brazos Valley Economic Development Corporation (BVEDC), PERC will produce a monthly report titled “Economic Indicators of the College Station-Bryan MSA.”
The Business-Cycle Index will serve as the region’s go-to measure for the current state of the local economy incorporating employment, unemployment, retail sales and wage information. Each month, the Business-Cycle Index will be updated and provided along with additional statistics on the local economy such as labor market indicators, retail indicators, housing indicators and government finance issues. These additional statistics will be provided on a monthly rotation.
PERC and the BVEDC will post the report to their respective websites on the fourth Monday of each month. Companies who are members of the BVEDC’s Invest Brazos Valley private sector investor group will have earlier access to the report.
An advisory board will provide expert and independent advice to rigorously assess monthly changes in the index, as well as to review and suggest additional indicators to highlight in the monthly reports.
“We are happy to partner with the Brazos Valley Economic Development Corporation and its local members in providing this index for the local community,” said PERC Director Dennis W. Jansen. “The Brazos Valley is home to a great university and to great communities and businesses, and we look forward to tracking the area’s future economic development.”
“Economic Indicators” and the College Station-Bryan Business-Cycle Index were unveiled during the morning session of the inaugural Brazos Valley Business Forum, held Thursday, September 27 at the Texas A&M Hotel and Conference Center. More than 250 attendees took part in the event, which was put on by the BVEDC.
“Success in business is all about making smart and informed decisions, and working with great partners that empower one another,” said BVEDC President/CEO Matt Prochaska. “The Brazos Valley Economic Development Corporation is focused on helping businesses launch, grow and locate in the Brazos Valley, including helping entrepreneurs who are at any one of those three business stages. Further, we are very pleased to team with Texas A&M University’s Private Enterprise Research Center as one of those outstanding partners in mutually equipping businesses in our community to reach their maximum potential.”