Killeen/Harker Heights
DAVID BARR PROPERTIES
Killeen/Harker Heights Overview
As the new 2010 decade begins, much of the nation is still suffering through extremely tough economic times. The Killeen-Temple-Fort Hood Metropolitan Statistical Area is doing fine.
Consider these economic facts concerning the cities and region:
· In mid-July 2007, the Killeen-Temple-Fort Hood area was the fifth strongest economic region in the nation, according to POLICOM Corporation.
· The region ranked No. 2 in job creation nationwide in April 2009, according to the U.S. Bureau of Labor Statistics.
· Forbes Magazine rated the Killeen as the fifth best small city for creating jobs in April of 2009.
· In January 2009, the U.S. Census Bureau ranked Killeen as the ninth fastest-growing city in the nation.
· Killeen was ranked as having the fifth strongest economy in Texas in May 2009.
· Coldwell Banker 2009 statistics show Killeen had the ninth most affordable housing in the nation.
· Although construction figures were down overall, new housing was on the rise again. Single-family residence permits were up from the 2008 totals, with 19 more permits issued and a value gain of more than $6.5 million.
· State sales tax rebates to the City of Killeen, falling below 2008 figures for most of 2009, have started showing an increase over the past year, indicating a better economic trend. Harker Heights, which added a new shopping center, has shown gains in sales tax rebates for several months.
Here are some other indicators of the growth and stability of the Killeen area:
· Darnall Army Medical Center, Fort Hood’s hospital facilities, has an allocation of $621 million to begin construction of a new facility during 2010. Another $306 million has been authorized for Phase II of this project. The new medical center will create 2,000 direct new jobs.
· Killeen-Fort Hood Regional Airport, a joint-use facility between Killeen and Fort Hood, set a new record for enplanements during 2009, a year in which most airports saw a decrease in passengers.
· Texas A&M University – Central Texas became a reality during 2009 and graduated its first class in December. The new Killeen university will be located on 662 acres of land on State Highway 195.
· U.S. Highway 190, the superhighway through the cities of Killeen and Harker Heights, recorded daily traffic counts reaching almost 100,000 vehicles. This is compared to an average of about 80,000 on Interstate 35 between Salado and Hillsboro.
· Enrollment in Killeen Independent School District, which includes Fort Hood and Harker Heights, reached a peak of 39,964 in the 2009-2010 school year. Estimated enrollment for the 2010-2011 school year is 40,539. Killeen is the largest school district between the Dallas metropolitan area and the Austin metropolitan area.
Early 2010 also brought good news of Fort Hood deployments – from both a personal and business standpoint. With the Central Texas post providing up to 30,000 of the soldiers deployed to Iraq and Afghanistan over the past few years, the word is that that figure could go below 5,000 deployments early in 2010. With some scheduled deployments in late summer, the figure could creep up to 15,000 but still below what the post has experienced in the past.
Through the deployments the Killeen area has remained stable economically because most of the soldiers’ families have remained in the Central Texas area where a strong support system has been developed by both Fort Hood and the communities that serve the post.
Also, Fort Hood has been fully utilized with up to 55,000 soldiers assigned to the post at various times, although half or more of those assigned were deployed. As 2010 began, there were approximately 46,000 assigned to the post with a big majority of them on site.
Although nationally the unemployment rate has climbed to 10 percent, the Killeen-Temple-Fort Hood MSA has held at about 7 percent. This is a near-normal figure for Killeen, which is high because of the formerly employed military family members who come to the area and are unable to secure jobs. It also includes retired soldiers.
It also is the retired soldiers and the family members that give Killeen and the immediate area an abundant labor supply. Some 600 to 1,000 soldiers separate from the Army at Fort Hood each month, with many opting to remain in the Central Texas area. More would stay, reports indicate, if employment opportunities were greater.
Populations in Killeen and Harker Heights continue to grow rapidly, placing the area within the top 10 position in the national growth charts. Killeen currently is estimated to have a population of 114,000 and Harker Heights, 28,000.
This growth has continued to attract new retail establishments as well as service businesses. The two cities have experienced a surge in the number of hotel/motel rooms as well as the number of chain restaurants. With the opening of Market Heights center in early 2008, Harker Heights added a number of restaurants, a theater and several retail stores to the area’s shopping community. In addition to hotel/motels and additional restaurants, Killeen has added new retail outlets, including an Academy Sporting Goods and Outdoors store.
Much of the area growth has been along U.S. Highway 190 in both cities, where locations range in price from $14 to $18 NNN with pad sites ranging from $6 to $16. However, Killeen businesses are multiplying on Stan Schlueter Loop (FM 3470), the roadway which swings through south Killeen and connects at both ends with U.S. Highway 190. State Highway 195, which connects with IH 35 at Georgetown, also is a growing business area and will become even more so when construction begins on the new campus for Texas A&M University – Central Texas. The campus will be located on the west side of SH 195 at State Highway 201.
Harker Heights also is adding businesses along FM 2410 (Knight’s Way).
As its retail businesses continue to grow, it enhances the Killeen area’s role as the dining and shopping destination for a 50-60 mile radius, or for more than 250,000 people.
City of Harker Heights Retail Map