TXP report: Mayfair will generate substantial economic activity
In 2021, economic analysis and public policy consulting firm TXP, Inc. prepared a report for SouthStar Communities that explored the potential economic and fiscal impacts of the Mayfair community. In the report, TXP stated that the Mayfair project will generate substantial economic activity and job creation:
“The ultimate build-out of the Project, assuming baseline projections are met, will generate annual total economic activity of $320.2 million, earnings of $116.1 million, and almost 2,000 permanent jobs.“
In addition, TXP points out how Mayfair’s benefits extend beyond New Braunfels and throughout Comal County:
“[T]he City of New Braunfels will garner almost $2 million annually at buildout in sales taxes, both directly and through income associated with more jobs and household income. Meanwhile, other local jurisdictions also benefit, ultimately realizing over $28 million per year.”
Finally, TXP concludes with a note about the intangible benefits of a master planned community like Mayfair:
“Much energy and effort has gone into analyzing the emerging role of “quality of life” considerations in economic development, with emerging evidence that Projects such as this [Mayfair] that mix employment, housing, and community amenities have an increasing role in the recruitment and retention of individuals and firms in the community. This can create synergy, as creation of these shopping, cultural, and recreational amenities can also serve to benefit those who already live and work in Comal County, present and future. In essence, the sum is greater than the parts, suggesting that policies and spending decisions that influence this sector be seen in a broad context.
Read Community Impact’s feature on the Mayfair community. To learn more about SouthStar’s master planned communities, visit https://www.southstarcommunities.com/