Consider Copperas Cove as a Site for your Business

Copperas Cove, part of the Killeen-Temple MSA, is in one of the fastest growing markets in the state of Texas. Located just off the high-tech corridor between Dallas and Austin, it is rapidly becoming the preferred location for back office, light industries, and retail operations. Its one-hour proximity to Austin lends itself as an ideal location for expanding high-tech companies and their suppliers.

Favorable Business Climate

The area is characterized by a favorable business climate and cost environment. The economy of Texas is outperforming the nation and is poised for continued vitality in the future. Within this healthy economic climate, Copperas Cove represents several areas of particular strength. The area’s labor costs are substantially lower than those in other regions.

Additional cost factors such as taxes are also below those in many parts of the US. These strengths are examined in further detail in the following slides. Copperas Cove is likely to see significant population expansion in the decades to come. Growth will stem from the dynamic economy of the Austin and Central Texas area, the expanding health care and biomedical complex in Temple, ongoing military operations at Fort Hood, and increasing foreign trade activity throughout the I-35 Corridor. The resulting upswing in business activity will lead to opportunities for businesses across a spectrum of industries.

Population and Economic Growth Continues

• Copperas Cove is part of the Killeen-Temple-Fort Hood Metropolitan Statistical Area (MSA—Bell, Coryell, and Lampasas counties). The population and economy of the area have seen healthy growth; this pattern is projected to continue.
• Population in the metro area has grown from almost 333,600 in 2001 to an estimated 362,200 in 2007. By 2030, The Perryman Group’s forecast indicates population in the metro area will approach 507,700.
• Total, inflation-adjusted output (real gross product or RGP) in the metro area has expanded from $7.7 billion in 2001 to an estimated $9.7 billion in 2007. By 2030, total output is expected to near $19.8 billion.
• The number of jobs in the area has also grown, with wage and salary employment increasing from 155,600 in 2001 to an estimated 172,000 in 2007. Employment is projected to top 235,700 in 2030.
• Copperas Cove is an important component of this expansion.

Low Labor Costs

• Comparing the average earnings of persons in Copperas Cove to statewide averages reveals that the region’s wage rates are well below most areas.
• Average weekly wages for all industries (as calculated by the Bureau of Labor Statistics) for Texas were an estimated $859 in 2007. For the Killeen-Temple-Fort Hood MSA, weekly wages were only $632, and Coryell County (where Copperas Cove is located) were lower still at $571.
• The mean annual wage for workers in office and administrative support occupations in the MSA is $25,660.
• For production occupations, the mean annual wage in the local area is $27,100.
• The area compares favorably in terms of high school graduation rates. More than 87% of residents in the metro have at least a high school diploma, compared to less than 79% in Texas and 84% in the US. The combination of higher levels of educational attainment and lower labor costs is compelling.