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Cox Creates Capital Despite City-Wide Slump

Cox Creates Capital Despite City-Wide Slump

Cox Manufacturing was praised for growth by My San Antonio, in spite of recent local unemployment trends.

Texas and San Antonio experienced small overall job losses in February, but recent trends continue to point to healthy job growth in 2017, the Federal Reserve Bank of Dallas reported Friday.

"Texas lost 1,200 jobs in February in seasonally adjusted numbers during February but had gained 55,700 additional jobs in January, a revised number," said Keith Phillips, the Dallas Fed senior economist based in San Antonio.

"Manufacturing is one of the strongest sectors in Texas so far this year," Phillips said. Manufacturing is showing a 6.2 percent annualized growth rate across the state the first two months after declining 1.9 percent in all of 2016. "There are signs of recovery in the manufacturing and mining sectors," Phillips said, explaining that "mining" means oil-and-gas extraction in Texas. "There’s a lot more optimism in the oil-and-gas sector," he added.

"San Antonio’s Cox Manufacturing has been consistently hiring for the past six to seven years and now stands at its highest employment level ever at 153 people thanks to an increasing number of customers," said CEO and President Bill Cox.

The company also has expanded its building on Loop 1604. "We are optimistic about manufacturing opportunities," Cox said. "We added three new customers this week. Two are oil industry customers. One of them lost their supplier. Another customer has been buying from China but was not happy with the quality. They were tired of repairing the products."

Cox Manufacturing makes specialized parts for the auto, aerospace, defense, firearms, hunting goods, electronics, energy and medical devices industries. 

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