Economic Report shows bright future for Victoria County
Jan. 13, 2014 at 6:02 p.m.
Updated Jan. 13, 2014 at 7:14 p.m.
After a year of heavy economic growth, a report presented Monday to Victoria County Commissioners indicates new development is contributing to a 19 percent increase in property values to the county.
While 2013 brought much growth, including the announcement of a $500 million expansion at Invista and new manufacturers opening shop at the business park, Victoria Economic Development Corp. President Dale Fowler said his staff is keeping the course, working on 13 projects, representing $7 billion in investment and the creation of more than 2,200 jobs.
"If you look at the demographics and past history of Victoria, it's not a good predictor of what our future is," Fowler said. "Things are continuing to expand at a quicker pace."
In 2013, new growth brought in $547,358 in new property taxes, a 19 percent increase over 2012, which brought in $461,553 from new development, according to the report.
County Judge Don Pozzi applauded Fowler and his staff for their diligence before approving a $25,000 agreement between VEDC and the county.
"... People know where Victoria is, and they know what we do here, and they're very interested in our community," Pozzi said.
Fowler said the 59 Industrial Park, which includes 200 acres along U.S. Highway 59, was recently certified for data centers, where companies can lease space to store their data.
VEDC is also marketing the city to companies based in Mexico looking to expand their business into Texas.
Fowler said in 2014, his group will continue targeting companies to locate to Victoria.
Specifically, he said they are focused on companies that support the oil and gas industry, petrochemical development trends, data center clients and manufacturing.