Higher Windstorm Insurance Premiums Could Affect Bottom Lines
By Jessica Rodrigo, Victoria Advocate, Texas |
This year's big issues for area businesses include water, transportation, windstorm insurance and wages.
"Water is always a big deal in our area," Vivian said.
As the Crossroads continues to grow, continued economic growth will depend heavily on the availability of water and uses of it. It's a big part area industries as well as municipal uses.
"With the ongoing transportation projects in this area and many on the books that need to be funded, it's important to watch what happens with the transportation infrastructure bills," he said.
Potential changes regarding the
The bill, which has yet to be filed, could affect residents and businesses in the Coastal Bend that would sustain damage from powerful storm or hurricane in the 2015 season. The bill would raise the premiums for those who live or operate businesses in that region.
"We want to make sure it is a shared responsibility. It is not just the coastal counties' responsibility. We get tornadoes all over the state," Vivian said. "To fund that bill on the back of the coastal counties because we get hit by hurricanes is unfair."
Dramatic increases to premiums for residents and businesses affects spending on several levels. Consumers could see less spending in the local economy and businesses see a shift in productivity and growth, Stastny said.
"It could make a huge difference in whether someone chooses to come to
Any changes to the way ports operate in the state could also affect more than just the
It's too early to know what will happen until the bills are filed, but members of the chamber and the business community will be watching closely to see what happens this session, said Vivian. He expects to keep a close eye on anything that might be of interest to the area.
Going into the 2015 session with a new lieutenant governor and new governor, there are bound to be some noticeable differences from the previous session.
Under former governor
"Any time there is a change in leadership, the priorities change," he said. "It will be interesting to see what the priorities are and what the new administration is going to focus on."
Stastny hopes state officials keep economic development as a priority this session.
"We want to keep
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