KEDC reports accomplishments for 2008

As 2008 comes to an end, Kilgore Economic Development Corporation has compiled an annual report which documents its accomplishments through the last fiscal year.

In the report KEDC outlines contractual agreements with HighPoint Packaging, a gift wrap manufacturer that contributed $1 million in private investment and created 10 jobs; Alcoa Water PNP, with $1.5 million in private investment and 18 jobs; Merritt Tool Company, with $2.2 million in private investment; Ana-Lab, with $750,000 in private investment; Carter Chambers, which added two jobs to a base of 22 and made $1.2 million in private investment; B&J Equipment, which added five jobs to the existing labor force of 18 and contributed $1.35 million in private investment; General Dynamics, which added 12 more jobs to its 429 existing jobs and a $575,000 investment; and, Elkanah, which contributed $550,000 in private investment.

Private investments totaled $9.125 million. Total existing job base was 469. Total new contracted jobs were 47.

Actions outlined for existing economic developments agreements include: Nardis, ruled in compliance for the year, thus reducing the company's obligation to KEDC to $6,000; Skeeter, approved for an extended contract and found in compliance; Alcoa CSI, contract assigned to Closure Systems International following the company's sale, but was approved for a contract extension and found in compliance; Texas Hot Shot, also found in compliance; QC Manufacturing, assigned to Natural Recovery, Inc.; Merritt Tool Company, contract amended to allow incentives based on proof of investment, followed by rendering the property with Gregg County Appraisal District in January 2009; and, Hanover Compression and Weatherford International, contracts terminated with no obligations for either party.

KEDC was also part of two infrastructure projects. A sewer infrastructure projects for BPI Compression, LLC totaled $9,750, with $4,641 from the city and $5,109 from KEDC.

Water infrastructure and fire hydrants for the National Oilwell subdivision at Longview Street and Powderhorn Road totaled $8,793, with the city and KEDC each contributing 50 percent of the project cost.

Other accomplishment in direct economic development was the issuance of Industrial Revenue Bonds for Cleveland Steel Container Corporation, as well as for Bucyrus, Inc., an expanding business.

Company openings included Orgill, Inc., at Synergy Park; Bucyrus, in North Kilgore Industrial Park; and Alcoa CSI Water PNP, in Kilgore Industrial Park.

Regarding business retention, KEDC officials participated in six conference calls, submitted an application for Foreign Trade Zone, co-sponsored meetings with Kilgore Chamber of Commerce, held three human resources luncheons, attended East Texas Council of Governments meetings, attended the Small Business Development Center tour of Merritt Tool Company, sponsored a job fair and attended the Small Business Association Salute to Small Business.

In marketing, KEDC participated in Taste and Trade of Kilgore, launched the new KEDC Web site and logo and attended several trade shows, including the 12th annual trade show in Xiamen, China and a wind energy event.