El Paso, TX Business Overview
Population, business opportunities continue to grow
PHOTO CREDIT: Photo: U.S. Air Force/Staff Sgt. Anthony Nelson Jr.
Diversified is a good way to describe El Paso’s economy, with a focus on agriculture, government civil service, health care, international trade, manufacturing, military, oil and gas, and tourism. More than 70 Fortune 500 companies have offices in El Paso, and here is some background on key contributors to business in this region:
Greater El Paso Chamber
The Greater El Paso Chamber of Commerce backs many livability improvement projects, including the $750 million investment by the Texas Department of Transportation to complete the Outer Loop (Loop 375). Other chamber efforts and causes include supporting an economic impact study of Fort Bliss, and the opening of a new Transmountain Campus teaching hospital in West El Paso.
Fort Bliss and the Military
Fort Bliss and the William Beaumont Army Medical Center have an annual economic impact of about $6 billion on the El Paso region, and an even larger $1 billion Beaumont hospital is being planned to open in 2019. Fort Bliss employs 25,000 soldiers and 5,000 civilians, and Beaumont employs 3,350 people. Also contributing to the military and economic might of the region is the U.S. Army’s White Sands Missile Range and Holloman Air Force Base.
Several malls make shopping easy for El Paso residents and people from neighboring cities such as Juarez and Las Cruces. Freedom Crossing Mall at Fort Bliss has shopping, dining and entertainment that includes a 10-screen movie theater, and Cielo Vista Mall also serves the nearby communities of Fabens and Socorro. Other popular shopping destinations include Bassett Place, El Paseo Marketplace, Fountains at Farah, a proposed Northgate Transfer Center, North Hills Crossing, The Outlet Shoppes at El Paso and The Venue at Montecillo.
Borderplex Alliance & Targeted Industries
Borderplex Alliance represents the economic development interests of El Paso as well as Juarez, Mexico, and Las Cruces, N.M., which all represent a bi-national metro area of 2.5 million people. Its mission is to economically strengthen the entire region, and Borderplex officials have targeted industries they believe will be major contributors to the regional economy in the near and long-term future. They are automotive, clean technologies, data and contact centers, defense and homeland security, high-tech electronics, life sciences, manufacturing/suppliers, and the services sector.
Partners in the Borderplex Alliance economic effort include the Greater El Paso Chamber of Commerce, City of El Paso, El Paso Hispanic Chamber of Commerce, Innovate El Paso, Rio Grande Council of Governments, Mesilla Valley Economic Development Alliance, Desarrollo Economico de Ciudad Juarez, and Workforce Solutions Upper Rio Grande.