TexAmericas Center’s Board of Directors approved agreement documents with Lionchase Holdings, INC., a privately-held asset management firm, at its board meeting on Tuesday, February 27th. Lionchase Holdings, Inc., has agreed to build a 200,000-square foot cold storage facility on TexAmericas Center (TAC), one of the largest mixed use industrial parks in the United States with over 12,000 acres. The project is expected to create a minimum of 100 permanent, full-time jobs and a bring a minimum of $20 Million investment.
TexAmericas Center’s Board of Directors approved a lease for a new tenant, 4X Industrial, LLC, and a lease modification for THTS, INC., at its board meeting on Tuesday, February 27th. 4X Industrial, LLC, headquartered in Greeley, Colorado, will occupy 1,400 square feet of office space and 2 acres of hardstand on TexAmericas Center’s East Campus. The lease commences on March 1, 2018. THTS, INC., headquartered in Texarkana, Texas, is an existing tenant leasing office space and ground on the TAC East campus at 201 Bowie Parkway, Hooks, Texas, 75561. The current leased office space is approximately 7,254 square feet and the additional leased ground is approximately 0.5 acres.
The TexAmericas Center Board of Directors and staff are pleased to announce the recent hire of Jeff Whitten, who has joined the TexAmericas Center team as the Vice President of Operations. In his new role, Whitten will be responsible for day-to-day operations, property management & maintenance, procurement, planning and management of building retrofits and new construction, and for the management of all real and personal property as it relates to the activities of TexAmericas Center.
TexAmericas Center (TAC) has seen a 14.5% overall increase in employment amongst its’ tenants over the past 5 years and is proud to report the addition of 113 jobs to the area this year. TAC completes an annual census of current tenants and businesses located on their Central, East, and West campuses (excluding the Red River Army Depot) to evaluate employment growth. The 2017 census ultimately revealed an overall $14.2 million annual payroll for the 26 tenants/businesses located on TAC’s combined footprint.
Results from a regional analysis conducted by McCarthy/Blansett Group (MBG), based in Colorado, demonstrates an urgent demand for the Texarkana region to move forward immediately in establishing a regional economic development program. MBG was selected through a competitive procurement process as part of the Office of Economic Adjustment (OEA) grant, awarded to Workforce Solutions Northeast Texas. The Project Assessment and Alignment Report further includes these relative findings to support the call to action: (1) The Texarkana Chamber of Commerce has continued to demonstrate excellent performance and leadership for over a century and should house the effort; (2) The history of parochialism amongst local leadership must be put aside for Texarkana to get on board with the success of regionalism—trending as the future of economic development; and (3) A healthy budget will be necessary to initiate and sustain a regional program.
TexAmericas Center (TAC) has a new tenant on their Central Campus, resulting from a partnership with local realtor Landon Huffer of Schimming Company Commercial Real Estate. Mr. Huffer introduced El Dorado Glass and Mirror Co., Inc. to TexAmericas Center in August of this year. The TexAmericas Center Board of Directors was able to then approve a lease for El Dorado Glass at their board meeting on Tuesday, August 22nd for approximately 4,750 square feet. The lease term will be for a period of twelve (12) months, commencing on September 1, 2017 and will terminate on the 31st day of August, 2018.
The TexAmericas Center Central Campus is close to reaching full occupancy of available building and site space for lease; this prompted the Chief Economic Development Officer and Executive Vice President, Eric Voyles, to create a “Construction Trailer Park” in 2016 from an area of unutilized ground on the campus. The new trailer park site offers a total of fifteen 12ft pads on Arkansas Ave. The site provides tenants a move-in ready option for locating office trailers to the footprint and has continued to be a great option for businesses doing contract work for the Red River Army Depot.
Foote Consulting Group (FCG), LLC of Phoenix, Arizona has announced that the greater Texarkana region is attractive and ready for business growth in their recently released report, Texarkana Region Workforce Target Analysis. According to the analysis, the greater Texarkana region displays overall strength amongst every criteria used by site selectors internationally to identify locations for new or expanding businesses, including: (1) Transportation/Logistics, (2) Labor Costs, (3) Labor Availability & Quality, (4) Electric Power, (5) Sites & Buildings, (6) Incentives/Taxes, (7) Quality of Life/Cost of Living, (8) Education/Training. These criteria are often the most important factors for companies looking at potential locations, and considerations are usually based on a regional perspective— a 50 to 75 mile radius for the greater Texarkana region. Foote Consulting Group’s key conclusions for each criteria shows that the region is not only ready for business growth but competitive amongst benchmark locations.
Economic developers like the staff of TexAmericas Center are charged with generating local economic growth, creating better jobs for area residents, and facilitating an improved quality of life for our region’s citizens. The economic development industry remains complex and challenging, but is a worthwhile pursuit. The vital work performed by the economic development profession is showcased nationally though the promotion of Economic Development Week (May 8-14, 2017), sponsored by the International Economic Development Council (IEDC). TexAmericas Center is excited to celebrate EDW 2017 with the announcement of their new HUBZone designation.
Military budgets have continued to tighten, affecting operational levels at military instillations and the economy of the greater Texarkana area. To thrive in this environment, defense contractors can no longer rely on their classic business models. Winning defense contracts will require an increasingly more adaptive and entrepreneurial approach to contracting. This new approach will call for a commitment to building business partnerships, training of local workers in 21st century workplace skills, and using business assistance tools to help lower the cost of operations. Having access to defense industry support tools for our local companies will only enhance the attractiveness of the greater Texarkana area, especially should the White House administration be successful at growing the defense budget over the coming years.