The Seminole Texas Economy
Oil & Natural Gas
Energy prices, new drilling technologies, and investments in the local oil sector will be largely decided by global supply & demand factors. Future growth is mainly beyond local control - - except for possible Hess “goodwill” investments in local economy. Investment possibilities may exist in oil field services and the downstream (inland refinery, Nat Gas plant?)
Water is long-term limiting factor. This is a mature industry, unless new/improved crops are developed or new irrigation efficiencies are developed. Some local potential may exist for value-added processing in cotton and peanuts. Some recruitment possibilities may exist for Ag chemical producers and other bulk suppliers to the local agricultural economy, especially if rail-served sites can be developed.
Trades & Construction
This segment of the Seminole economy is the newest business cluster and could be grown and encouraged to expand and develop. Unlike the Oil and Ag sectors, this segment is dependent on local workforce skills, not local natural resources and commodities production. Local application of capital, training, and other assistance and support could grow this important market segment. Value added diversification is already occurring to service the Oil and Ag sectors.