BRYAN, Texas — Two months into 2021 and there are no signs of the pandemic stopping anytime soon. Despite the turbulent economy coronavirus has caused, the Brazos Valley is ranked second lowest unemployment rate in the state of Texas at 5.9%.
Unemployment rates and the economy have been on a wild roller coaster ride ever since the start of the pandemic.
“When we think about returning to 100%, going back to where we were in February a year ago now, the things that mattered are largely related to can we get back to a state of economy where we are doing the things that we did? And right now, we’re not doing the things that we did locally,” said Private Enterprise Research Center Executive Associate Director Andy Rettenmaier.
Without full-attendance sporting events, conferences, family weekends, and other events hosted in this community and at Texas A&M, it may be difficult to return to the economic state before covid-19.
“The only way to get back there is customers, travelers, visitors, and all of us locally are comfortable going to restaurants and traveling, and until then, we will have some kind of enduring effects until we get to that point,” said Rettenmaier.
With Texas A&M making up a huge source of employment in the Brazos Valley, employment rates have been relatively stable.
“You’ll see a larger government sector in terms of our employment at 22.9% and as we continue to diversify with other sectors, and other industries, we’ll find more resilience to more potential downturns in our economy and a more stable employment,” said Economics Development Corporation CEO Matt Prochaska.
Even though Bryan College Station was hit hard by the pandemic just like the rest of the state, the economy is not going down without a fight.
“The Brazos Valley economy is very resilient and we’re very fortunate. It’s difficult because there are sectors of our community and economy that are really suffering. I think about restaurant owners and some of our retail and other sectors that are really growing and doing very well during the pandemic. What I would say is more diversification is better obviously and hopefully as the vaccine gets more widely spread distribution wise within the community, some of these areas that are having a more difficult time economically will start to improve,” said Economics Development Corporation CEO Matt Prochaska.
Bryan College Station currently falls behind Amarillo in lowest unemployment rates in Texas.