TAYO: Buildings Rise, Unemployment Drops in Oil-Rich West Texas

HOUSTON--(BUSINESS WIRE)--

Growth and development in resource-rich West Texas continue at a torrid pace as Taylor Consulting Inc. TAYO makes plans to add to its portfolio of real estate assets in the region.

A horizontal drilling boom in West Texas' Permian Basin has created so many jobs that nearby cities have the lowest unemployment rate in the state. According to the latest figures from the Texas Workforce Commission, Odessa and Midland are once again the two top Texas cities for low unemployment, with both coming in under the state's unemployment rate of 5.1 percent.

As new workers and residents flock to the region, a surge in building has begun. The Odessa Economic Indicator states there have recently been 28 new building permits for residential homes and 25 new building permits for commercial buildings in the city. Home sales across Texas were at their highest volume last month since 2006, and the total value of home sales topped $7.4 billion—a new record.

TAYO is working to capitalize on the West Texas boom by acquiring and developing distressed real estate assets for multiple potential revenue streams. The company is building a strong portfolio of real estate assets as the region continues to grow. TAYO has already acquired multiple properties located on or near the Permian Basin as well as executed a letter of intent to form a property development joint venture with The Home Masters Inc.

TAYO recently created Third Avenue Development, LLC to invest in promising real estate assets to compete alongside American Homes 4 Rent AMH, Silver Bay Realty Trust Corp. SBY, Equity Residential EQR and Essex Property Trust Inc. ESS and more.

For more information on Third Avenue Development, please visit www.thirdavenuedevelopment.com.

About Third Avenue Development, LLC.

A division of Taylor Consulting, Inc. (TAYO), Third Avenue Development, LLC, is building a competitive portfolio of real estate assets in emerging oil and gas regions. The company is focused on acquiring and developing properties in the country's top-performing markets in order to capitalize on rising demand for housing and related infrastructure services.

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