Falling oil prices starting to affect Woodlands economy

From the workforce to real estate to retail, community leaders in The Woodlands agree on one thing: the economy is slowing down.

The downturn in the oil and gas sector is taking its toll on The Woodlands area, with the price of oil hovering around $40 a barrel compared to about $60 a barrel at the same time last year.

“I expect we’ll see layoffs in [late 2015] and during 2016,” said Jacci Kilgore, president of Woodlands Relo Group, which provides corporate employee relocation services. “That’s what the word is on the street.” click here for complete story