El Paso’s 2014 economy thrived: Unemployment rate at 5.8% down from 9.1%

According to Mayor Oscar Leeser 2014 was a great year for the El Paso economy.

Thousands of new businesses registered this year with County Clerk’s Office. Leeser said this is the product of the city’s new business-friendly initiatives.

Hillside Coffee on El Paso’s Westside officially opened its doors this summer. Hillside’s ownership group says El Paso is offering a market hungry for what they’re selling, such as two Crave locations, Independent Burger, Malolam and Stonewood, all successful, popular diners.

“It’s been crazy, in the best way possible, its been busy,” said Hillside Manager Daniela Barranon. “It’s definitely growing. I see new people every day.”

According to the County Clerk’s Office, 6,155 businesses registered this year, compared to 6,455 last year.

“We’ve had about 10 companies that have either come into our city our expanded in our community to create new jobs,” Leeser said. “It’s a little over 5,000 jobs that have been created.”

Leeser attributes the robust economy to initiatives brought in under his leadership such as a revamped Hire El Paso First, which gives preferential treatment to businesses that build in the city and hire residents.

“When we took office 18 months ago the unemployment rate was 9.1 percent. The new unemployment rate for the city announced for November is 5.8 percent,” Leeser said. “But every month, month to month, we’re starting to decline and that’s very exciting.”

Leeser also created the “Fam Tour,” or Familiarization Tour, which invites business consultants from all over the country to be wined, dined and introduced to all of El Paso’s tourist attractions with the goal of attracting their clients to the borderland.

“A lot of things when we go talk to companies, we talk about the Quality of Life Bond that was passed by the voters, which was the community investing in itself. And also the Chihuahua’s that have come in and had a great first season. And one of the things that’s close to my heart that was a great success was the Sun Bowl and those are the great things that have put the spotlight on our community.”

There are two more new, large companies coming into El Paso, Whole Foods and William Sonoma.