Goal 1
Industry diversification and resiliency
Work as a region united to attract, retain and expand industry throughout the 17-county Permian Basin, reducing the volatility that comes with a single dominant sector.
What changed: Rig counts across the region have moved sharply year to year since 2019, and the last two years of announcements include both major expansions and closures. Diversification into power generation, water reclamation, logistics and advanced manufacturing is where regional plans now concentrate.
Objectives
- 1.
Increase employment outside oil and gas extraction and support activities.
No votes yet - 2.
Increase the number of establishments in targeted non-energy clusters.
No votes yet - 3.
Raise the share of small counties with an active, funded economic development program.
No votes yet - 4.
Reduce the swing in regional employment between peak and trough drilling years.
No votes yet
Strategies and key actions
- 1.
Assist communities in implementing strategies that grow or attract businesses in targeted clusters — energy services, power and renewables, water midstream and reclamation, logistics and warehousing, and healthcare.
No votes yet - 2.
Help small communities build micro-clusters around unique local assets rather than competing head-on with Midland and Odessa.
No votes yet - 3.
Support business retention and expansion visit programs, so existing employers are the first source of new jobs.
No votes yet - 4.
Promote export-oriented and knowledge-based activity that brings revenue into the region.
No votes yet - 5.
Maintain the regional plans library and close the documented planning gaps in counties with no published comprehensive or economic development plan.
No votes yet - 6.
Coordinate economic recovery and continuity planning with the PBRPC Regional Homeland Security Strategic Implementation Plan and the regional threat and hazard assessment.
No votes yet
Performance measures
- 1.
Employment by industry sector, region and county.
Current basis: Tracked on the Economic Profile page; five-year trend maintained.
No votes yet - 2.
Establishments by industry sector.
Current basis: Tracked annually from County Business Patterns.
No votes yet - 3.
Average wages by industry sector.
Current basis: Tracked annually; regional average reported against Texas.
No votes yet - 4.
Share of regional employment outside oil and gas extraction and support.
Current basis: New measure for this cycle; baseline set in year one.
No votes yet - 5.
Rig count and its annual swing as a volatility indicator.
Current basis: Baker Hughes county rig averages, 2019 through 2026.
No votes yet - 6.
Announced projects that reach operation versus those that stall.
Current basis: Tracked in the Recent Economic Developments list, including unrealized announcements.
No votes yet