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County’s business sector also booming

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    Amy Story

Kendall County’s growth is well documented as individuals and families continue to flock to the heart of the Hill Country.

And in the middle of it all are local businesses as a new survey has ranked Kendall among the best counties in Texas in terms of growth in that sector.

According to the financial technology company SmartAsset, Kendall sits fifth in Texas as far as counties experiencing the most business growth. Over a four-year period, Kendall County business has grown 14.1 percent.

Information from Smart Asset stated there are several ways individuals, governments and businesses can invest money in a county or region. Its study aims to capture the places across the country that are receiving the most incoming investments in business, real estate, government and the local economy as a whole. To do this the company looked at four factors: business establishment growth, GDP growth, new building permits and federal funding.

“While it is exciting to hear that Kendall County’s business growth over the past four years has been rapid, most of that growth is in small businesses,” Boerne Kendall County Economic Development Commission Executive Director Amy Story said. “ Over 94 percent of all businesses in Kendall County have fewer than 10 employees. Kendall County is a small business community, and the EDC will work to attract and retain businesses of all sizes that will strengthen and diversify our local economy.”

SmartAsset looked at the change in the number of businesses established in each location over a three-year period to show whether or not people are starting new business ventures in a county.

The second factor was the GDP growth. The company used real growth (inflation adjusted) in the local economy.

It also looked at investment and development in the local residential real estate market. To measure this real estate growth, it calculated the number of new building permits per 1,000 homes.

The final factor considered was federal funding received by each county. SmartAsset found federal funding in the form of contracts awarded to businesses in each county, which it divided by the population. This gave a per capita look at the flow of investment from the federal to the local level.

“We scored every county in our study on these four factors,” the analysis report stated. “We then combined those scores to create a final ranking of cities. With that ranking, we created an index where the county with the most incoming investments was assigned a value of 100 and the county with the least investment activity received a zero.”

Kendall’s score was 73.21, trailing Reeves County (96.29), LaSalle County (78.8), Fort Bend (78.47) and Williamson

(75.27). Right behind Kendall is Denton (73.21), Bastrop

(73.04) and Hays (72.69).

Kendall County also was ranked 19th nationally.