Monday Morning Report
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The Executive Committee meets Wednesday, August 20 at 2:00pm. The agenda includes new TxDOT studies on rail relocation, Union Pacific negotiation status, Rail Relo Now fundraising, legislative strategy and new Digital Convergence Initiatives. Please RSVP to Sarah@thecorridor.org if you plan to attend.
Thanks to the San Antonio Mobility Coalition for a great sold-out event on rail issues in Texas and the Alamo City. Cassandra Miller and Vic Boyer did their usual stellar job. Press report here.
Infrastructure
TxDOT released two important studies on rail relocation strategies last week but most media ignored the good news contained within that the Union Pacific Railroad has stated its willingness to relocate into a new rail corridor outside Austin-San Antonio. The other good news is that the public level of investment for relocating them has been quantified at about $1.4 billion. The media coverage was a train-wreck though, with the Statesman headlining that UP must be relocated to have any kind of commuter rail (wrong) and the Express-News putting a public price tag on the project at $3.8 billion (probably wrong). If you want the studies, click here and here. If you want the lousy press coverage, click here for the Express-News, here for the Statesman. And here's a link to some TV coverage. To see UP's letter on the topic, here.
As we've been warning since fuel prices began their upward climb, global shipping costs are beginning to shape the supply chain in a number of industries. Our concern has been that at a certain price breaking point, fuel costs make some goods uneconomical to ship within the current distribution system. The $800 billion NAFTA trade-flow between the US, Canada, and Mexico may be affected and a New York Times story yesterday outlines how these changes are beginning to be felt. See it here.
Last Friday was the first anniversary of the collapse of the I-35 bridge in Minneapolis. The incident killed 13 and injured 145. Thousands of deteriorating bridges pose the risk of similar disasters, yet little has been done to remedy the problem. This Houston Chronicle editorial yesterday discusses why nothing has been done.
If you can find a way to make it work for you, public transit could save the average American $8000 per year, according to a new study from the American Public Transit Association. Gas prices have increased 179.9% since 2003, the study says, and if you live where transit is available you can save $672 a month. We're not sure we believe it all, but see links to the study here.
State Rep. Dianne Delisi - just shy of 18 years in the House representing Temple and Bell County - decided to resign her position last week to accept a new position. No word yet on what that post is, but here are other details.
Economic Development
Texas has the nation’s largest state-owned highway system, but still managed to rank twelfth among states when it comes to overall highway performance and cost-effectiveness. The Reason Foundation’s 2008 national highway report shows that Texas improved its overall ranking from fifteenth last year. But the state doesn’t fair so well when it comes to congestion. Texas’ urban interstates are congested 50% of the time, ranking it thirty-fourth in highway traffic.
Texas nonetheless has the best business climate in the nation, according to a study by marketing company Development Counselors International. In a poll of 281 corporate executives across the country, 40.8% said Texas had the most favorable business climate. The survey cited a strong labor market, low operating costs and a pro-business climate as factors in their decision. North Carolina ranked second, while Georgia was third, followed by Tennessee and Florida.
The Austin Chamber of Commerce is bringing Federal Reserve Chairman Ben Bernanke to Austin. Bernanke is set to deliver the keynote address at the chamber’s Annual Economic Forecast on December 1 at 12:30 pm at the Hilton Austin.
Congratulations to Ramiro A. Cavazos the new president and CEO of the San Antonio Hispanic Chamber of Commerce. Cavazos was most recently the director of research and economic development for the University of Texas Health Science Center at San Antonio.
Cedar Park’s city council approved a $402,500 incentive package to help San Jose, Calif. – based Corvalent Corp. move its headquarters to the city. Corvalent, which designs and manufactures computer motherboards and systems, is working on plans for a 24,000 sq. ft. building that will become its Cedar Park home.
"What I do today is important because I'm exchanging a day of my life for it.’
-Albert M. Wells, JR