The World Trade Bridge was opened to traffic in April 2000. The effect this has had on economic growth seems striking. From August 1999 to August 2001, Laredo gained about 4400 jobs of which about 1600 were in the transportation and public utility sector. This led to a decrease in unemployment from 7.9% to 6.5%. This was a period when both the Texas and the overall US economy were losing momentum with the Texas unemployment rate increasing from 4.5% to 4.9% and the US unemployment rate increasing even faster from 4.4% to 5.1%. Another perspective is seen from the aspect of total employment. In the same period as noted above Laredo had a 6.7% increase in employment while Texas employment increased only 3.7% and US employment increased only 0.1%
Principal Program Official for NCPD
CBI & Economic Development Highway Initiative
Federal Highway Administration - USDOT
November 1, 2001
Employment has continued to increase in the Laredo area from the period noted above. According to information from the Federal Reserve Bank of Dallas, employment increased by almost 10,000 between August 2001 and August 2005.
February 6, 2006