TexAmericas Center (TAC) announced its impressive growth in new businesses and jobs at its industrial park in 2021, according to the TexAmericas Center Annual Census of Employment and Payroll.
TexAmericas Center saw increases in the number of new businesses coming to the industrial park, growth in the number of jobs located there, and a notable retention rate for tenants continuing their success with TexAmericas Center.
In 2021, nine new businesses relocated to TexAmericas Center, showing a 17 percent increase compared to the previous year. Those new businesses brought 60 new jobs to the region, according to the report. Additionally, the industrial park held a 74 percent retention rate among current businesses through the pandemic. Ten of those companies added 75 new jobs, with one company growing new jobs by 133 percent.
The 2021 TexAmericas Center Annual Census of Employment and Payroll is an annual report based on feedback of TexAmericas Center tenants to make application for grants and evaluate the organizations impact on the greater Texarkana region. The 2021 census revealed an overall payroll of $10.8 million on the footprint.
“We are thrilled to share this report that illustrates our hard work and dedication to growth in the region,” said Scott Norton, Executive Director and CEO of TexAmericas Center. “While so much has changed in the world and the economy, we continue to set our sights on pushing development, creating economic opportunity for residents of the Texarkana region, and providing stability for our tenants. This report demonstrates that what we are doing is working.”
Other highlights include:
- A 43 percent increase over five years of companies locating on TAC, from 23 companies in 2017 to 34 in 2021.
- A 17 percent increase over one year of companies locating on TAC, from 29 companies in 2020 to 34 in 2021.
- A four percent increase in non-RRAD job growth over the past year, from 271 jobs in 2020 to 281 jobs in 2021.
Additionally, several developments in 2021 will encourage growth in the years to come for TexAmericas Center.
Earlier this year, TexAmericas Center announced thousands of acres of land were successfully remediated to meet commercial and industrial standards after the Texas Commission on Environmental Quality removed the United States Army’s Resource Conservation and Recovery Act (RCRA) permit from the property.
Job creating opportunities are growing. The organization completed the construction of a 150,000-square-foot speculative (spec) building on 24 acres. The building is now move-in ready and is expected to bring even more businesses and jobs to TexAmericas Center next year.
The organization was awarded an $864,550 grant from the U.S. Department of Commerce’s Economic Development Administration (EDA) to construct new rail facilities and repair existing ones. The grant is expected to create more than 150 jobs and expand operations within the TexAmericas Center footprint.
“TexAmericas Center is positioning itself to expand rail and transload operations, while also inviting more industries to grow within our industrial park,” Norton said. “I look forward to next year’s census report growing off the momentum we’ve already seen in 2021.”
TexAmericas Center is rich in opportunity and proactively engaged in developing business opportunities for the area. With more than 3.5 million square feet of industrial and office space and 12,000 acres of developable land, TexAmericas Center is a prime location for businesses looking to grow or expand into Texas and the Texarkana area.