SAN ANGELO, Texas — Area Development magazine conducted a five-year study of economic growth in the leading metropolitan statistical areas in the United States. The publication's study ranked San Angelo sixth in Texas, ahead of other major cities such as San Antonio.
San Angelo Chamber of Commerce's Vice President of Economic Development, Michael Looney, said the city has been a longtime producer of steel. However, Looney said San Angelo is not over reliant on a particular industry.
"The San Angelo economy is diversified enough, and I would submit eager enough to participate on a broader national and international stage," he said.
Principal Industries produces LED lights for consumers internationally. The San Angelo-based company was founded in 2010.
Bryan Vincent, one of the founders, is from San Angelo. The company began with less than 10 employees, but Vincent now employs more than 140 people.
"When you bring jobs to San Angelo, it's not just about the jobs," he said. "It also helps feed the overall growth and economic development of the city."
Vincent said the company hires many of its employees through its second chance program. He said those employees, many of whom had previously dealt with substance abuse or legal troubles, are among his best.
"For me, to give someone an opportunity, a second chance to kind of clear the slate (and) have a job where they can get started again is really awesome," he said. "It's kind of a ministry for us."
The study ranked San Angelo 68th in the United States.
To learn more about San Angelo's economic development, click here.
