Dripping Springs development is booming

By Russell Wilde
News 8 Austin

While banks are closing their doors nationally several are under construction in Dripping Springs.

Pioneer Bank opened its doors a little over one year ago and this month they'll move into their new corporate headquarters.

Pioneer Bank President Jeff Wilkinson said being a new bank alleviates them from the many issues larger banks are currently facing.

"We're a brand new bank and we're not saddled with many of the legacy issues that many other banks have today," he said.

Wilkinson said they're successful in spite of national trends because their customers see value in having a bank based in their community.

"People are really worried about what's going on, they can walk into a community bank like Dripping Springs and look the president in the eye, look their banker in the eye, and say how's my bank doing," Wilkinson said.

City leaders say their economy is strong. The area's population has been growing for years now and business is catching up.

Dripping Springs resident Jon Thompson said the more growth the better it is for the city.

"To us it's always a good sign that we have a lot of work going on around town, keeping folks employed," he said. "We do try to hire as many locals as possible … it does bring some much needed jobs and economic boom."

The city of Dripping Springs is also adding infrastructure. A waste water treatment facility opened this year which paves the way for a new grocery store chain in town.

"It's kind of a healthy mix of local entrepreneurs and local businesses trying to do new construction," Thompson said.

While 2008 has been the year of commercial construction, new residential projects have been slow.

Wilkinson said even with families moving in at a slower pace there is a demand for services his bank offers.

"Any growing community that doesn't have a community bank, there's a void," Wilkinson said.

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