Title
Consider a resolution authorizing the Mayor to execute a letter designating that Census Tract 207.07 Williamson County, located at the northeast corner of Joyce Lane and Gattis School Road as a Targeted Employment Area.
Body
This agenda item is a request for designation of a Targeted Employment Area (“TEA”) for the census tract 207.07 of Williamson County, Texas.
The determination of eligibility is based on analysis of labor force data and the application of the census-share method, as described in the U.S. Bureau of Labor Statistics, Local Area Unemployment Statistics Program Manual. The unemployment calculations were made using the American Community Survey 2013-17 data for the purpose of establishing ratios of census tract-to-county shares of employment and unemployment. Furthermore, county-level unemployment was obtained from the Bureau of Labor Statistics 2018 annual Local Area Unemployment Statistics. These data sets were used to determine the qualifying subareas with unemployment meeting or exceeding the current required threshold of 5.9%.
Based on the above date, the 2018 unemployment rate in the area composed of the census tract described above is 7.5%, which exceeds the threshold rate of 5.9%, or 150% of the 2018 average national unemployment rate of 3.9%, according to the Bureau of Labor Statistics.