07-21-08 Special Called Regular Meeting of the Development Corporation Board of Directors

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QUALIFICATIONS, continued impacts and to help structure the range and scope of potential incentives to be offered. A Strategic Economic Adjustment Plan for EI Paso City ofEI Paso, Texas (federally-funded grant) Under the auspices of an Economic Development Agency grant, TXP created a ten-year strategic plan to cope with the impact of structural change in the region's economy. Major tasks included an analysis of the economic, demographic, labor, and industrial base of the community and formal solicitation of community and stakeholder input. Economic Impact Studies for Texas School District Clients (2002-present) Since 2002, TXP has conducted 24 economic impact studies for Texas school district clients considering granting tax abatements for manufacturing and R&D projects. The economic and fiscal impact studies have analyzed a number of high profile companies including BASF, ConocoPhillips, ExxonMobil, Home Depot, Samsung, Texas Instruments, and Toyota Motor Corporation. The findings support the view that the Texas Economic Development Act has had a significant economic impact and accomplished its goals. These findings for the 24 projects are as follows: $9.6 billion in new capital investment Creation of 4,484 direct new jobs, with an annual payroll of $333.2 million A total economic impact of $22.3 billion over the life of the proj ects A total of21,236 jobs (direct and indirect employment) based on these investment levels Downtown Redevelopment in McAllen, Texas City of McAllen, Texas As part of a larger planning effort, TXP was engaged to assist the City of McAllen, Texas with the economic development aspects of downtown revitalization. Specifically, TXP was tasked with answering the following questions: How does downtown development relate to the city's broader economic development agenda? Should economic development or traditional land use planning drive the redevelopment effort? Do local governments have the necessary resources required for infrastructure improvements? What types of business should be targeted for recruitment? Economic Development Implications of Commuter Rail in Central Texas Austin- San Antonio Intermunicipal Commuter Rail District Tasked with evaluating the economic development implications of implementing commuter rail between Austin and San Antonio, TXP built a custom econometric model that determined whether or not this region could support this type of transit system. Specifically, the Austin-San Antonio Corridor was compared to other U.S. regions to determine the likelihood that a rail project would have positive long- term economic impacts on the region. ~~----------_._~'---'---_._---~-_._---_._~.._..,------'---"-_._-----.__._-~._-_.._._----_..._---,-----~"_._--.---.,--- PROPOSAL: ECONOMIC DEVELOPMENT STRATEGIC PLAN FOR THE CITY OF LA PORTE. RFP #08510 24