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Do low oil prices hurt home prices?

If you’re worried about lower oil prices and the effect on the state’s economy, there’s research that could put your mind at ease. While there is some relationship between the two, Jim Gaines, Ph.D., a research economist with the Real Estate Center at Texas A&M University, says historical data shows that this relationship is only Read More

One giant leap for Midland International Air & Space Port

MIDLAND – Midland International Airport is now Midland International Air & Space Port, as the Federal Aviation Administration (FAA) has approved a commercial space launch site license for the airport. Though there are eight other commercial spaceports with FAA licensing, Midland International Air & Space Port is the first primary commercial service airport certified by Read More

Fifty-four months of Midland-Odessa economic expansion

MIDLAND, ODESSA – The Midland-Odessa Regional Economic Index was 6.8 percent higher in August 2014 than in August 2013, and has recorded 54 straight months of economic expansion, according to economist Karr Ingham. Midland and Odessa issued 107 permits in August 2014, up from 105 in August 2013. The two cities have issued 913 permits so Read More

Midland median income up by 14.8 percent

MIDLAND – Midland’s median household income rose to more than $71,000 in 2013, a 14.8 percent increase year-over-year from 2012, according to the U.S. Census Bureau. Midland’s median household income has increased by 27 percent since 2011, rising $15,000 between 2011 and 2013. The Midland metropolitan area now ranks ninth in the U.S. for median Read More

Midland Sam’s Club $5.7M renovation completed

MIDLAND – The Sam’s Club store, located at 1500 Tradewinds Blvd., has reopened after a six-month, $5.7 million renovation. Renovations include: •  a new $1.2 million gasoline island, •  a new pharmacy, •  an expanded optical center, •  a new hearing aid center; and •  remodeled and expanded restrooms. Midland’s Sam’s Club opened in 1986 Read More

Midland Microtel Inn decor includes guestroom work stations

MIDLAND – The 82-room Microtel Inn & Suites by Wyndham has opened 12 miles from the Midland International Airport. There are numerous corporate offices within a five-mile radius of the hotel including IBM, Halliburton, Patriot Drilling, as well as the Midland Center, several attractions, and dozens of restaurants within a two-mile radius. This Microtel Inn Read More

Midland’s Energy Tower to be two towers

MIDLAND – The Energy Tower at City Center will become two towers, with the first being an office building including retail space and a movie theater, and the second including a hotel, ballrooms, living space and a convention center. The taller tower will be 22 stories, as opposed to the originally planned 53 stories. It Read More

Hotels in Midland set revenue records in 1Q 2014

MIDLAND – Following a record-breaking year, Midland’s hotel industry shows no signs of slowing down in 2014 as revenue grew 13 percent year-over-year in first quarter. The Tall City’s 39 hotels generated more than $27.6 million in 1Q 2014, the highest amount from any quarter in history, according to the most recent report from the Read More

Midland highlights Texas’ low unemployment rate

MIDLAND – The Bureau of Labor Statistics (BLS) reported that Midland’s 2.3 percent unemployment rate in April was the lowest of all Metropolitan Statistical Areas in the country. It was the fourth time in the last five months that Midland has posted the lowest or tied for the lowest unemployment rate in the nation. The Read More

Midland energy leaders expand campuses

MIDLAND – Oil companies are investing millions to build modern campus-like office space with many amenities. While many companies have moved north where more property is available, there still is significant interest in downtown. Downtown Midland office buildings have typically been set up for multiple tenants, whereas large companies prefer their own buildings in campus-like Read More

Chaney Ranch in Greenwood

GREENWOOD, MIDLAND COUNTY – Site work on Chaney Ranch is set to start sometime in May. The development will consist of 107 executive one- and two-acre lots in the Greenwood School District of Midland County. Phase 1 has 15 two-acre lots and 32 one-acre lots. Developer Permian Basin Group will plant more than 300 trees Read More

Home values and suppy up in Midland

MIDLAND – April home values were up by 4.7 percent year-over-year in Midland, marking the 11th consecutive month of growth. The median price of homes sold last month was $227,000, according to data published by the Real Estate Center at Texas A&M University. Home values have not dropped year-over-year in Midland since May 2013, when Read More

Midland No. 1 MSA in U.S. under 3 percent jobless rate

MIDLAND – Midland’s 2.9 percent jobless rate made it the only MSA in the nation to post a jobless rate less than 3 percent in January 2014, according to the Bureau of Labor Statistics. Midland’s civilian labor force grew by 2,500 people from January 2013 to January 2014. Of the 95,600 people in the labor Read More

Midland Fasken Oil adding 39 units to The Vineyard

MIDLAND – The 39-unit second phase of The Vineyard development will be located on 7.212 acres west of the Holiday Hill Rd. and Green Tree Blvd. intersection. Construction starts during summer 2014 and finish in 2015. Fasken Oil and Ranch Ltd. will develop the luxury complex, which will be comprised of nine two-story buildings only Read More

Midland ISD Teachers Bonuses

MIDLAND – The Midland ISD Education Foundation has received $6.25 million in donations for teacher signing and re-signing bonuses from eight area companies and foundations. Entities providing donations include Concho Resources, Pioneer Natural Resources, Apache Corp., Warren Equipment Co., Chevron, the Abell-Hanger foundation, the Henry foundation and the Scharbauer foundation. The donations will allow Midland Read More

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