Wichita Falls Economic Outlook: Optimistic Despite Recent Business Closures

In recent times, the economy of Wichita Falls has come under scrutiny due to an increase in businesses closing their doors. Local favorites such as Karat, Salt and Pepper, and B Cocoa have shut down, but according to Wichita Falls Chamber of Commerce CEO Ron Kitchens, this is simply part of the natural life cycle of businesses. Despite these closures, Kitchens remains optimistic about the future outlook for the economy of Wichita Falls.

Kitchens believes that inflation is one of the reasons behind some business closures but he is still hopeful. He stated that while the economy in Wichita Falls may seem different from others, new growth is still occurring. This year alone, 38 new companies have opened in the area, bringing over 100 new jobs to the community which is a positive sign for the local economy.

While national chains like JC Penney’s and Maurice’s have also closed their doors locally, Kitchens does not see this as part of an inflation pattern. He believes that these closures are due to other reasons such as disagreements between companies and mall operators.

Despite recent closures giving a negative impression of the economy, Kitchens believes that Wichita Falls’ future is bright. Construction projects worth $750 million are set to begin this year providing a boost to the local economy. The chamber of commerce is also taking steps to support future entrepreneurs and current business owners such as launching a six-part series on how to open a restaurant in September.