Is San Antonio Gaining Economic Traction from Border Crisis?
Introduction
In an unexpected turn of events, the unprecedented migrant numbers crossing the Texas-Mexico border could potentially be fueling San Antonio’s economic development. Over the course of the previous year, no less than 250,000 migrants have passed through the city. Albeit temporary for many, experts suggest that this inflow may have beneficial effects on the local economy.
The Data Tells the Story
As per the Bureau of Labor Statistics, migrant workers formed over 18% of San Antonio’s labor force in 2023. San Antonio and the larger Texas region have become attractive options for corporations seeking to relocate or expand. The robust economy, coupled with the massive migrant labor influx, is said to be the perfect formula for the sustained growth.
Thomas Tunstall, Senior Research Director at UTSA Institute of Economic Development, reiterated this observation, stating, “A lot of companies are choosing to either relocate to Texas or expand here so this state is. Very well positioned for growth and in order to do that, companies need people to work for them.”
A Matter of Time
Assembling comprehensive data to measure the migrants’ impact on economic growth is often a time-consuming process, cautions David Macpherson, Professor of Economics at Trinity University. He agrees with the potential positives but asserts that it is too early to determine the extent of the economic impact.
The Economic Balance
On one hand, the rising migrant population has led to a significant increase in the labor force, a valuable asset in view of the shrinking fertility rates. On the other hand, according to a national survey by Pew Research Center, about 80% of Americans believe governmental handling of the migrant influx has been subpar. A considerable 57% also associate increased migrant population with potential crime upsurge.
Addressing Job Security Concerns
Despite apprehensions of job displacement among local workers, the data suggests otherwise, according to Belinda Roman, Professor of Economics at St. Mary’s University. She believes such fears are often more conjectural rather than factual.
Immigrants: A Boon to the Economy?
Macpherson points out that immigrants, including undocumented workers, significantly contribute to the economy by paying taxes without major benefit claims, effectively supporting basic programs like Social Security and Medicare. Furthermore, Belinda Roman notes the swift economic cycle enabled by the immigrants — obtaining a paycheck and promptly spending on essentials, therefore injecting money directly into the local economy.
Conclusion
While the debates around the border crisis persist, the potential economic benefits brought by the burgeoning migrant population in San Antonio cannot be dismissed. As this intriguing dynamic unfolds, it will be enlightening to observe how the city accommodates these changes and leverages them for future growth.