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Business is Better in Buda

During the first six months of the fiscal year (Oct-Mar), Buda has undergone a transformation that indicates Business is Better in Buda. Retail sales tax collections for the first six months have increased by 13.25% from the previous year. If these increases continue, fiscal year collections should exceed $4 million. The increase in retail sales is driven in part by the continued growth of the Buda economy, which is evidenced by how quickly available commercial space is being leased. Downtown Buda is nearly 100% occupied.

 

Developers recognizing Buda's potential are seizing the opportunity to create additional commercial space, as the needs of Buda's residents are creating a substantial demand for more commercial tenants. Over 14,000 square feet of new retail space is being constructing near the intersection of 967 and 1626, and the City of Buda recently approved a Planned Unit Development (PUD) at the Intersection of Main Street and Cabela's Drive.

 

As evidenced with recent announcements, businesses are drawn to Buda due to the City's quick development review process and the ability to adaptively reuse existing buildings. Businesses interested in locating in Buda are invited to attend weekly Development Review Committee meetings to address any concerns prior to starting the development process. The Buda EDC recognized the costs associated with small businesses locating in Buda and has recently developed a Small Business Permit Fee reimbursement program to reduce barriers to entry for Buda businesses.

 

With Austin being named America's Fastest Growing City and Hays County being the 3rd Fastest Growing County in the United States, Buda is an attractive business location. Buda is located in Hays County, which has seen its unemployment rate drop from 5.3% in February 2013 to 4.6% in February 2014, while the labor force has grown by 2.41% during the same period. Buda's average household income of $96,464 and the addition of over 1,800 new residential units since January 2009, also increase the attractiveness of Buda as a business location.

 

As more and more businesses discover that Business is Better in Buda, one can expect the area economy to continue to grow.