A time to be thankful for economic growth in the Texas Innovation Corridor
Thanksgiving is always an appropriate time to reflect and share what we are thankful for. As I look back at 2021, I am grateful and very thankful that the Greater San Marcos Partnership (GSMP) has and continues to play a key role in contributing to the economic growth and vitality of the Texas Innovation Corridor.
This part of Central Texas is one of the best places in the country to be doing business. I am thankful for the residents of Hays and Caldwell counties who make our region such an amazing place to live and work, and I am thankful for the communities in our footprint who help facilitate the creation of new jobs and cultivate the quality growth of our region.
As I consider all that makes our region so special, I give thanks for five specific regional advantages.
First and foremost, I am thankful for our local business and civic leaders who volunteer their time and talent to meeting the goals of Vision 2025, our region’s economic development plan.
As a community built, consensus-driven and volunteer-led plan, Vision 2025 is a five-year strategy with clear actions and tactics designed to drive our community’s prosperity forward.
In the first year of this strategy, our community volunteers completed the vast majority of Year 1 goals, with all others expected to be completed in this fiscal year.
Our Year 2 goals have been identified and we are in the process of resolving the composition of our workgroups to ensure that these new goals will be met. Transportation and land development and conservation are topics that will be addressed in this fiscal year.
Second, I am thankful for our regional economic development partners who all accomplished great success this past year.
As an organization built on the ideals of regionalism, the partnerships with our communities is the key ingredient to current and future success.
By all metrics, this last fiscal year was by far and away the most successful year in the history of our region. Fourteen companies announced a location or expansion into our region, representing 1,497 new jobs, $366 million in capital investment, and more than $74 million in projected annual tax revenue for our local communities.
This success represents new opportunities to improve the quality of life for our residents throughout the Texas Innovation Corridor.
Third, I am thankful to work on behalf the absolute best place in country.
The explosive interest we saw in fiscal year 2021 has not slowed down in the slightest. Our first announcement of FY 2022 was the region’s first-ever $1 billion capital investment project, by way of a solar and battery power plant system from Chem-Energy. We anticipate several more announcements in the coming weeks, all of which will bring new jobs and new tax revenues for our communities.
In fact, just two months into our new fiscal year, GSMP’s prospect pipeline (meaning companies that are interested in locating to our region) is already at an estimated $5.8 billion in potential capital investment. For context, this figure already makes this fiscal year the third most successful by capital investment dollars in the history of the Partnership — and we still have 10 months left in this new fiscal year.
We continue to see record amounts of activity and incredible speed-to-market deals from companies looking to do business in the Texas Innovation Corridor.
Fourth, I am thankful for all the support from our investors, partners, supporters, and community leaders who choose to play an active part in our region’s economic development.
Without the investment and commitment of our community partners, the work of economic development cannot be done. Our region’s success is directly correlated with the involvement of all these organizations. I am highly appreciative of their time and resources, and exceptionally thankful for their continued dedication to growing the economic development opportunities in our region.
And finally, I am thankful for a GSMP staff who truly helps make the magic happen.
In early October, our organization was recognized by the International Economic Development Council (IEDC) as the Economic Development Organization of the Year. It is a major honor for GSMP, and more importantly, it reflects the fine work we are accomplishing with all our regional partners together right here in the Texas Innovation Corridor.
Economic development is a team sport. It takes a full roster of great team members and community partners like our regional economic development organizations, chambers of commerce, workforce development partners, educational institutions, and many, many more in order to facilitate the success our region is experiencing.
The future is bright in the Texas Innovation Corridor, and I am enthusiastically optimistic about our region’s prospects. For that, I am incredibly thankful.
If you are curious about how you would like to get involved our region’s economic development processes, I will be happy to get you connected. Email me at firstname.lastname@example.org or contact me on Twitter @JasonGiulietti.