Located at the intersection of Interstate 69 (NAFTA Hwy) & State Highway 44, The Outlets at Corpus Christi Bay’s location is a unique retail opportunity. Unlike most outlet centers, The Outlets at Corpus Christi Bay boasts three major advantages: high tourist volume, an established metropolitan market untapped by an outlet center, and a twenty minute drive to the beach! The Outlets at Corpus Christi Bay has the additional advantage of being located at the gateway to the Richard Borchard Regional Fairgrounds and Equestrian/Convention Center. The building design maximizes store visibility and offers pedestrian-friendly areas, dining options, fountains and other amenities that will encourage visitors to The Outlets at Corpus Christi Bay to extend their customer experience.
Corpus Christi ranks 4th on Forbes 2013 Bests Cities for Jobs List
The job market in Corpus Christi grew faster and has more momentum than most cities around the country, according to a ranking published by Forbes Magazine.
“This is more evidence that things are going really well in the Coastal Bend,” said Roland Mower, the CEO of the Regional Economic Development Corporation.
Texas’ economy continues to receive national recognition, confirms according to the Corpus Christi Regional Economic Development Corporation. The state’s unemployment rate is more than a full point below the national average, dropping to 6.2% in September 2013 compared to the nation’s 7.3% percent rate. Additionally, Texas is the top exporting state in the nation for the ninth year in a row.
Corpus Christi was ranked by Forbes as being in the top 25% of large metropolitan areas for low costs of doing business. The area is populated by a highly skilled workforce in petrochemical, heavy fabrication, water transport and aerospace. Moody’s Economy.com ranked Corpus Christi in the best 20% of metropolitan areas for low workforce costs.
Eagle Ford Shale is Changing the Future of South Texas for the Better
The economic acceleration of the Coastal Bend area is fueled by numerous factors, including the revitalization of the Ingleside Port, the continued growth of aerospace technological development, and especially the Eagle Ford Shale discovery in a 24-county area of South Texas.
“Eagle Ford Shale may be one of the largest onshore natural gas and oil discoveries in the past half century,” said Dominique Halaby, the Director of the Center for Community and Business Research at UT/San Antonio. “In 2010 alone, this newest of the Texas shale plays generated close to $2.9 billion in revenue, supported approximately 12,600 full time jobs in the area, and provided nearly $47.6 million in local government revenue.”
The benefits of Eagle Ford Shale are projected to grow immensely over the next 10 years. By 2020, studies show that the development is forecast to generate more than $21.5 billion in total annual economic output and support roughly 70,000 new full time jobs in the area.
Ports of Opportunity
Other economic drivers in the area include the development of a new terminal at the Port of Corpus Christi, a project estimated to cost $25 million. Additionally, the former Naval Station Ingleside in Corpus Christi is set to be re-developed into an offshore oil service complex that is forecast to produce 5,000 new full time jobs. Houston-based Canyon Logistics has completed the initial purchase of the former base for $75.8 million and will mimic the facilities in Louisiana, a major center of offshore oil services. The Ingleside facility will be larger, with more services and closer to deep water, outmaneuvering competing ports in the Gulf of Mexico.
Wind Adds to the Ffull Complement of an Energy-Based Economy
Corpus Christi has become a major center for production and shipping of wind turbines, and the area has one of the largest wind farms in North America in operation, with plans for expansion.
Boom time in Corpus Christi and the Coastal Bend
While always a center for shipping, petrochemicals and energy, the Coastal Bend also historically depended on tourism, fishing and boating as attractions. Now the area is central in the surging oil and gas business in addition the traditional economic drivers, producing a booming economy and increasing demand for all services from housing to hotels, dining and retail like no other time in the area’s history.
The Outlets at Corpus Christi Bay will entice 8 million tourists from nearby Upper Padre and Corpus Christi. In addition to serving the shopping center demand of over half a million Corpus Christi MSA residents, millions of tourists will travel by the site on their way to South Padre Island.
With one of the longest tourist seasons on the mainland, the Corpus Christi market is chock-full of winter Texans, spring and summer vacationers, as well as year-round conventioneers and second-home owners. The Corpus Christi MSA has about 200 hotels, motels and condos supplying nearly 10,000 rooms. Major expansion in the hotel and condo markets is underway and forecasted to continue over the next decade.