Brownwood is growing and the unemployment rate is decreasing.  That was the good news shared Tuesday with the Brownwood Municipal Development District Board of Directors.

Ray Tipton, BMDD Executive Director, presented the unemployment report.  According to Tipton, the most updated unemployment numbers from the Texas Workforce Commission are from August.

“The unemployment numbers are definitely improving.  We’re down to 5.8% for the August numbers which is down a full percentage point from the prior month,” Tipton said.

Brownwood is not back to the low unemployment numbers which were in the 3 percent range pre-COVID.

“I’ve heard a lot of analysts talk about we might hover in the 5% range for a while until COVID finally reaches it’s termination point,” Tipton said.

He also shared that, based on what he is hearing from local realtors and business owners, there seems to be an influx of new residents into the Brownwood area.  Those moving are looking for a smaller town they believe is safer and still offers amenities.

“Based on talking to the real estate community, talking to landlords, people that own investment and rental property, they said that they are getting an increased volume of calls from people relocating to Brownwood from larger cities,” Tipton said.

In addition to residents, there is an increase in interest to the city from business owners.

“Especially small businesses looking to move from larger towns.  We’ve probably shown property or talked to some folks over the past couple of months multiple times for the same reason.  I understand Howard Payne University is experiencing the same thing.  They’ve had an increase in enrollment from what was expected at the start of the year.  I think they’re all related,” Tipton said.

The BMDD board also approved four Building Improvement Incentive Program Grant applications.  All are brand new businesses to downtown Brownwood, Tipton added.  The City Council must now approve the grant applications are their next meeting.