Author Archive

Type A and B Economic Development Corporations

Type A EDCs — Developing Industries

 Type A Economic Develpment Corporations are typically created to fund industrial development projects, such as business infrastructure, manufacturing and research and development. Type A EDCs can also fund military base realignment, job training classes and public transportation.

Type B EDCs

Type B EDCs can fund all projects eligible for Type A, as well as parks, museums, sports facilities and affordable housing. However, Type B EDCs are subject to more administrative restrictions than Type A.

Source: Texas Ahead for additional information

Texas Unemployment Rate Drops

As of December 2011, all of the total jobs shed by Texas employers during the recession have been replaced. Nationally, only 30 percent of recession-hit jobs had been recovered through December 2011.

  • Between December 2010 and December 2011, Texas gained 204,500 jobs. Total nonfarm employment increased by 20,200 jobs from November to December 2011.
  • The Texas unemployment rate dropped to 7.8 percent for December 2011, down from 8.1 percent in November 2011. The Texas unemployment rate has been at or below the national rate for 60 consecutive months.

This is just a sampling of what the Comptroller’s Texas Ahead website offers. The Economic Outlook page and Tracking the Texas Economy online resource provide detailed and updated information about Texas housing, taxes, oil and natural gas and more.

Source: Texas Ahead

Fabtech 2011

November 23rd, 2011 | Sharon Cook

Oncor sponsored a booth at Fabtech 2011, North America’s largest metal forming, fabricating, finishing and welding event, held at McCormick Place in Chicago. Terry Preuninger and Sharon Cook lead the team of Ten Economic Development professionals to participate in the four-day show. A big Thank-You to Wes Burnett, CEcD-Andrews EDC, Brian Malone, CEcD-Athens EDC, William Myers-Bridgeport EDC, Bonnie Hunter-Commerce EDC, Thom Lambert-Crockett Economic & Industrial Development, Tommy Tucker-Mexia EDC, Bekki Roberts-Seagoville EDC, Charley Ayres-Temple EDC, Danny Booth-Terrell EDC and Roger Feagley-Sulphur Springs/Hopkins Co. EDC for making this a successful event. Our booth saw brisk traffic and reported twenty-four solid contacts with eight quality leads to follow-up. Attendees and exhibitors were upbeat about business and the economy. Several exhibitors announced record results at this year’s show.

The final numbers haven’t been reported at this time but 30,000 visitors were anticipated and over 1,200 exhibiting companies covering more than 450,000 net square feet of floor space.

As a part of the week’s events, Aaron Demerson, Office of the Governor Economic Development & Tourism, partnered with Terry Preuninger, Oncor, to host a luncheon for the community participants with special guest Minah C. Hall, ESQ Managing Director in True Partners Consulting’s Chicago office.