New study reveals economic impact of LISD

Texas’ fastest growing school districts contribute $70.5 billion in total economic output, $89.2 million by LISD
Posted on 05/07/2018

DISTRICT NEWS RELEASE


Contact: Christina Courson, Public Information Officer

(512) 398-0033 office

(512) 738-1413 cell

Christina.Courson@lockhart.txed.net


FOR IMMEDIATE RELEASE


Date: May 7, 2018


Texas’ fastest growing school districts contribute $70.5 billion in total economic output, $89.2 million by LISD
New Economic Impact Study Examines Contribution of State’s Fastest Growing School Districts to the “Texas Miracle”

According to a new economic impact study from the Fast Growth School Coalition (FGSC), Texas’ fastest growing school districts contribute $70.5 billion in increased economic activity, making these 75 fastest-growing public school districts a significant economic driver for the state.


The 15-year total total impact of capital outlays and equipment by Lockhart ISD, directly tied with economic activity spurred by growth, totals $89.2 million.


“Texas’ fastest growing school districts already experience tremendous population growth as businesses relocate or expand into these communities,” said Dr. Guy Sconzo, Executive Director of the Fast Growth School Coalition and a former Humble ISD superintendent. “Now, we know that these 75 school districts contribute mightily to the Texas Miracle and our larger economy, as well.”


Specifically, LISD’s economic contribution includes investments related to construction, land and existing structures, instructional equipment, and other equipment to support growth. A total of 509 jobs were created during the past 15 years directly related to the district’s growth.


“Lockhart ISD has experienced tremendous growth over the past fifteen years, and even more so in the last five years,” said Superintendent Susan K. Bohn. “For the first time ever, this new study reveals, in specific and measurable ways, the local and statewide economic impact of the growth associated with fast-growth school districts such as LISD.”


The study, commissioned by FGSC and conducted by AngelouEconomics, found there are many positive economic benefits that school districts create for their communities and the state.


From 2000 to 2014, approximately $33.1 billion was invested into construction projects in fast growth school districts. The study found that as billions of dollars are invested into school infrastructure and equipment, the investment ripples through and across the larger economy impacting more than 500 business sectors.


According to the FGSC economic impact study, 26,810 jobs are supported each year from school infrastructure investments. Over the past 15 years, $24.7 billion in labor income has been paid out and a total of $70.5 billion in total economic output has been generated within the Texas economy.


Bohn recently shared the results of the study at the most recent regular meeting of the LISD Board of Trustees, noting it is a smart investment for our state to provide facility funding for schools because our fast growth school districts actually drive the economies in local communities and across the state. The reality, however, is the state has decreased funding for facilities throughout the state, transferring the lion’s share of the burden to local taxpayers.


“Funding for facilities has decreased very significantly through the state with contributions decreasing from 40% to 5.8% for fast-growth school districts. Local taxpayers, then, are required to pass bond elections to take care of increasing local facilities needs required to serve more students,” explained Bohn.


Bohn noted the Board has supervised the construction and renovation of a number of facilities in the last several years and commended the investment as the best for the children of the community.

The full economic impact study is online at www.fastgrowthtexas.org. The report also includes snapshots of individual fast growth school districts’ economic impact.

 


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