Economic analysis of recent closings in Wichita Falls by city official

Recently, the economy of Wichita Falls has been called into question by some due to an increase in businesses closing their doors. Local favorites like Karat, Salt and Pepper, and B Cocoa have shut down, but according to Wichita Falls Chamber of Commerce CEO Ron Kitchens, this is just part of the natural life cycle of businesses. Despite these closures, Kitchens remains positive about the future outlook for the economy of Wichita Falls.

Kitchens believes that the closure of these businesses is partially due to inflation, but he is still optimistic. He stated that the economy in Wichita Falls is not much different from the national economy, and that 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 J.C. Penney’s and Maurice’s have also closed their doors locally, Kitchens does not see this as part of the inflation pattern. He believes that these closures are due to other reasons, such as disagreements between the companies and the operators of the malls they were located in.

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