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The Chamber’s Strategic Economic Development Plan notes that local firms could enhance this sector by obtaining their professional services locally instead of outside of Greater Waco.

In addition, continuing to draw younger, better-educated professionals through retention of local graduates or providing opportunities for them to return to Waco later will spur the professionals services arena as well.

Growing the base of young professionals is a key to expanding the professional services sector, which includes legal; accounting and bookkeeping; architectural and engineering; specialized design; management and technical consulting; advertising; and scientific and technical, including health care.

There’s always the perception in a smaller community that you have to go to Dallas or Houston to get better professional services, but that is not the case. You have very seasoned professionals locally who can provide top-notch services at a better cost. Rick Brophy Chamber chair-elect

Workforce
Many occupations in the Professional Services sector require a bachelor’s degree or higher, which are offered at Baylor University and at the McLennan Community College University Center.

The University Center is a partnership with the University of Texas-Arlington and Tarleton State University.

The Baylor Law School and Hankamer Business School also support the targeted sector.

Local companies also are making themselves more visible on the Baylor campus through participation in the Science, Math and Engineering Technology Career Fair.

Waco’s MCC and Texas State Technical College also boost the workforce with their health care, design, technical and many other programs.

In 2004, Baylor, MCC and TSTC Waco conferred more than 3,100 degrees in professional services-related fields.

Quality of Life
Waco’s strong, growing economy with a variety of businesses in need of professional support services and a high quality of life also are among the factors for developing this sector, according to the strategic plan.

The focus groups that participated in the research phase of developing the strategic plan noted Waco’s quality of life - amenities of a larger city, hometown feeling, family lifestyle, proximity to Austin and Dallas, absence of traffic and low cost of living.

What We Need
Waco is particularly short on services in the architectural and engineering; advertising; specialized design; and management and technical consulting subsectors, according to the strategic plan.

Professional services firms are typically small operations by nature, which strengthens the local economy through diversification, according to the plan.

Waco has representation in each of the subsectors, but “all areas have tremendous potential for quality job growth,” according to the strategic plan, which suggests supporting the expansion of existing firms and creating a structure to support professionals interested in starting their business.

Professional services with the strongest projected growth for the Heart of Texas region are tax examiners, collectors and revenue agents; engineering managers; administrative services managers; and payroll and time-keeping clerks, according to the Texas Workforce Commission. (see graph)

Occupations with higher degree requirements with strong projected growth include financial managers; lawyers; and accountants and auditors.

Projected Growth for Professional Services 2002-2012
Occupation	Employment		Growth Rate
	2002	2012
Administrative Services Managers	400	500	25.0%
Financial Managers	450	550	22.2%
Engineering Managers	150	200	33.3%
Accountants & Auditors	1,150	1,300	13.0%
Tax Examiners, Collectors & Revenue Agents	100	150	50.0%
Engineers	1,100	1,200	9.1%
Drafters, Engineering & Mapping Technicians	700	800	14.3%
Lawyers	500	600	20.0%
Payroll & Timekeeping Clerks	200	250	25.0%
Source: Texas Workforce Commission