Investor Spotlight: The Real Estate Council of San Antonio
In 2002, the Real Estate Council of San Antonio (RECSA) began studying in detail the economic impact of real estate development in the San Antonio area. The results were stunning, and they continue to illustrate the massive positive effects of real estate development in the area.
A few key data points from our 2018 study paint a clear picture:
- Real estate development employs 133,500 people in the San Antonio metro, from general contractors to bankers, landscapers, electricians, plumbers, attorneys, architects, engineers, painters, HVAC technicians, and many more disciplines.
- Local development industry workers earn $6.7 billion a year in wages.
- The average annual salary in the local real estate development industry is $49,848, and more than 70 percent of workers earn $15/hour or more.
- Real estate development generates $35.8 billion per year in local economic activity.
- The industry generates $232.8 million a year in local tax revenues.
Well researched data is a critical piece of RECSA’s focus on advocating for owners and professionals in the real estate industry, informing and educating its members and community leaders while supporting efforts to ensure a healthy economy and enhanced quality of life in the San Antonio Area. That’s been RECSA’s focus since forming in 1991.
RECSA also works to keep its members apprised of the latest regulatory and legislative issues affecting the industry. Monthly programs provide RECSA members with critical insights on the various local entities members work with continuously as well as expert insights on marketplace trends. RECSA also coordinates with other local business organizations on important policy issues regarding San Antonio’s economic vitality.
Today, more than 300 RECSA member firms represent more than 1,200 active members, many of whom have been members since RECSA’s founding. Many of them also serve on a wide range of local boards and commissions to ensure that industry expertise is well represented in matters of public policy that directly affect real estate development and the San Antonians who earn their living in the industry.
RECSA is also committed to supporting the next generation of real estate industry professionals, funding scholarships at the University of Texas at San Antonio, Texas A&M San Antonio and Alamo Colleges. In addition, RECSA’s annual Leadership Development Program has graduated hundreds of young, up-and-coming leaders to ensure strong leadership for our industry for years to come.
Real estate development is essential to economic development. This is evident everywhere you look in San Antonio. The Toyota campus, the South Texas Medical Center, USAA and HEB headquarters, La Cantera, Brooks, the new Frost Tower – none of them would exist without a strong, capable real estate development industry that is always ready to support our city’s continued economic success.
Learn more about RECSA at www.recsanantonio.com and follow on Facebook and Twitter, @RECSATX for both.
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