Waco is statistically one of the oldest and poorest metros in the area, and it is slower growing than both the Temple-Killeen and Bryan-College Station metros. And the percentages aren't even close.
I think it's partly because Waco is older and poorer and more blue collar. But most of it is leadership.
I grew up in Waco, and I will tell you that McLennan County has a small, elite, self-serving class that has managed the county for decades.
They are well-meaning, but much of our growth has been stunted by focusing our energy on maintaining that upper crust rather than by expanding our community.
I think 50 years down the line, Waco will be the third or forth largest city in Central Texas, and develop more into an old college town.
Perhaps some steady growth might loosen some of the mismanagement by increasing our numbers, but we have already fallen behind Temple-Killeen and B/CS in both population and market strength.
"Smarter than the Average Bear."