Business leaders say city is prepared for life after oil boom
Oct. 15, 2013 at 5:15 a.m.
Updated Oct. 16, 2013 at 5:16 a.m.
Crossroads business leaders say the region is readying itself for a post-oil boom future.
Randy Vivian, president and CEO of the Victoria Chamber of Commerce, said the goal in Victoria is to diversify local industry as much as possible in order to strike a healthy balance.
The Victoria Economic Development Corp. is always looking for new companies to bring in, he said, but there's also a push to make existing companies bigger and stronger.
He cited ongoing growth with the regional Invista, Formosa and Ineos plants.
"Those help spread the jobs around so we're not so concentrated in one industry," he explained. "If we have a downturn in one industry, it won't affect a great amount of workers."
Dale Fowler, president of the economic development corporation, agreed.
Marketing efforts will continue in order to draw industries to the Crossroads, he said, and other efforts - the city's focus on tourism and retail development, as well as Victoria's educational assets - all help insulate against a downturn.
"We're very welcoming of oil and gas, but if it does become cyclical as it has in the past, we want to make sure we have other industry in our community to help bridge those gaps," he said.
Read about how other Texas towns are preparing for the oil boom's end.