TexAmericas' growth leads to plans for construction

TexAmericas Center, the organization created to develop land and facilities formerly belonging to Red River Army Depot, enjoyed a year of economic development as businesses came to take advantage of the facilities.

TexAmericas Center now finds itself facing a new challenge - running out of building space.

"We started with over a million square feet of space when we began this," said Eric Voyles, executive vice president. "But we've been very successful in attracting clients to the center and now we are running out of existing building space and facilities. We are now looking at projects and clients at our campuses involving new buildings. We already have potential clients expressing interest. So this will involve new construction in 2020. It is a good challenge to have."

 

As for 2019, TexAmericas Center listed these as marking the year's accomplishments:

- More than 56% growth in non-RRAD jobs on TAC over the last five years;

- More than 30% net growth in tenants over the last five years;

- Nine new tenants in 2019;

- Added two new industries;

- Attracted companies from Michigan and Arizona;

- and more than 69% growth in total leased space over the last five years.

 

TexAmericas also finished making a $2.25m infrastructure improvements that:

- Made 1,500 acres shovel ready on TAC East Campus;

- Opened a 270,000 square foot complex of buildings for redevelopment;

- Leased more than 200,000 square feet of complex in six months in 2019;

- Signed contracts to perform $1.6m of improvements to occupied buildings;

- Won two federal grants to assess and remediate two buildings making way for future redevelopment;

- and added transload services to the property.

 

TexAmericas also added incentives to offerings, including:

- Payment in Lieu of Taxes Agreements;

- Texas Enterprise Zone;

- Texas Reinvestment Zone;

- and Goods-In-Transit Tax Abatement Agreements.

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