LUBBOCK, TX (KCBD) - NewsChannel 11 continues to probe economic news, both good and bad to see how it affects your family. Monday, some good news 79 jobs are coming to Lubbock. News of new jobs isn't something that's happening in every city.
NewsChannel 11 sat down with Lubbock Chamber of Commerce President Eddie McBride for some perspective on Monday's new job announcement. "Several indicators to say we're still holding our own, is the best way to put it," says McBride. He says businesses are concerned about what the market will do - but the Lubbock Economic Alliance Development's job announcement is definitely good news.
"I think what we're blessed with here is an economy made up of a bunch of different businesses that work well together - that's why we're a little more resilient," says McBride.
One business that he says falls into that category is Class One Orthodontics, a Lubbock based company. The orthodontic and dental supply company partnered with Texas Tech University Health Science center and over the next five years will nearly double it's staff. AT & T will bring 29 jobs to Lubbock and Eburon Organics International will add 10 jobs - all three companies will be adding nearly $3 million in annual salaries to Hub City economy. Some companies, McBride says, haven't been so lucky. "We've already suffered a few loses here locally with Circuit City and Linens 'n Things.
U.S. News and World Report released a list of what they call "potential victims" - firms that will probably look a lot different a year from now because the industries they are in have been hit by the slowdown in consumer spending.
McBride says he hasn't heard of any new national chains with local shops going under. "Whenever you lose a business it hurts but I've got a sneaking suspicion with our unemployment rate that's just at 4.7 percent which is lower than both the state and national average that we're still filling jobs and there are still jobs available to people.
Another good indicator of our economy, McBride says that there are several ribbon cuttings for new restaurants on the calendar. LEDA CEO Gary Lawrence announced his retirement Monday and he says that he's very proud of Monday's job announcements.
U.S. News and World Report list of firms to watch:
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