Business and Industry
Lubbock is the Hub City for West Texas, both in name and in fact. The economic
heart of a 26 county region that more than 500,000 people call home, Lubbock boasts a
strong, diverse economy that is grounded in agriculture, manufacturing, and wholesale and
retail trade, as well as government, education, and health care.
With low taxes and a local administration committed to making the city an attractive
location for companies and their workers, Lubbock is definitely a business friendly
community. Not only does the are boast a 3.7 percent unemployment rate, which is the
sixth lowest in the state and 1.5 points below the national average, but employment in
Lubbock grew 3.5 percent in 1997 as the city added nearly 4,000 new jobs. Perhaps
the best news for the future of Lubbock's economy is that the city's major institutions,
such as Texas Tech University, Methodist, St. Mary of the Plains and University Medical
Center hospitals, and United Supermarkets, are solidly based in the community and should
continue to offer employment opportunities for years to come.
Even the 1997 closing of Reese Air Force Base is turning into an economic opportunity
for the city. The Lubbock/Reese Air force Base is turning into an economic
opportunity for the city. The Lubbock/Reese Redevelopment Authority (LRRA),
appointed by Governor George W. Bush to coordinate the transition of the base to civilian
use, is working to create new jobs by turning the base into a self-sufficient business and
research center. Market Lubbock Inc. has worked with the LRRA since the base closed
to bring companies from around the country to Reese. The Texas Tech University
Institute of Environmental and Human Health is already headquartered there, as is the
Reese Campus of South Plains College. For more information, or for a tour of Reese
Center, call 806 885 6592.