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March 2017 - In This Issue:

TOGETHER - SHAPING THE FUTURE.
The vision of the Hutto Economic Development Corporation is to foster an environment that facilitates meaningful employment and diversified capital investment resulting in Hutto being a desirable and profitable business location.

 



Upcoming Events:

Power Breakfast
March 2, 2017








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Hutto Economic
Development Corporation
Board of Directors

Mario Pere z
Chairman

Doug Fell
Vice-Chairman

Garry Guthrie
Treasurer

Anne Cano
Secretary

Jeff Coombs

Gerry "Kim" Engram

Jazlyn Wiles


 
 



Hutto Economic  
Development Corporation  
Staff

President and CEO

Jason Nicholas
Vice President
 
Emily Butler
Executive Assistant

LETTER FROM  THE 
PRESIDENT and CEO
Tim Chase

To Spec or Not to Spec...That is the Question
Looking as far back as I can see in the HEDC records, we have had a goal of encouraging the construction of industrial buildings suitable to lure new businesses to Hutto.  On a routine basis, the HEDC Board and staff meet with potential developers asking them to build a 50,000-square foot (sf) or larger manufacturing building in Hutto on the speculation that a company would either buy or lease it within 6-months of completion.  Unfortunately, we have not found a single developer willing to undertake 100% of the financial risk. 

The use of spec buildings is very popular across the country and especially in Texas, where an EDC is allowed by law to buy land, make it ready for construction, and build a shell building.  In fact, many Texas EDCs have underwritten 100% of the risk and become the developer of spec buildings.  When this strategy works, the community is applauded for being highly successful and when it fails, leadership can be deemed to have been ill-advised in undertaking such a high-risk endeavor. 

Last year the HEDC fielded over 90 inquiries, we submitted on 45, and we had 20 companies come to town to take a look.  Unfortunately, none of these prospects found the real estate solution they required, so they moved on to the next town.  The formula for economic development success requires three things: 1) an available and talented workforce; 2) a great location including quality of life; and 3) real estate solutions in sufficient numbers to be highly competitive.  We clearly have two of the three requirements, and now it's time to take aggressive action to provide the missing real estate link. 

Unfortunately, the HEDC does not have enough revenues to develop a spec building by itself.  Therefore, if we are to see speculative development, we must partner with private sector developers who are willing to split the financial risk.  There are myriad ways to make such partnerships work, and fortunately, the EDC does have enough resources to perhaps buy land and offer it to a developer, who will in turn build a new building. Once complete and the building is sold or leased, we might recover our investment. 

Timing is everything in the real estate business and we believe that Hutto's time is now.  Recent changes in the City's leadership, a boost in sales tax revenues due to HEB's arrival, approximately 400,000 sf of industrial buildings in surrounding communities appears to have been recently consumed, and a renewed sense of urgency by your EDC Board, and point to making 2017 the year that multiple real estate solutions come to Hutto, Texas.  Stay tuned!
 


March POWER BREAKFAST
March 2, 2017  

 
Commissioner Larry Madsen
Williamson County, Precinct 4 
Larry Madsen is a lifelong resident of Williamson County. He recently retired from the City of Round Rock where he served as construction project manager for 23 years. During that time, he was manager for development and construction of projects that included Old Settlers Park, Dell Diamond, the Clay Madsen Recreation Center, the McConico Building, the Baca Senior Center, the Round Rock Sports Complex, the Rabb House, and numerous fire and police stations. Larry received a Bachelor of Science degree in Agriculture from Texas State University. He worked in the banking industry prior to his career with the City of Round Rock.
Larry and his wife, Nancy, have two married daughters and seven grandchildren. Larry is a member of Crosswalk Church of Round Rock and has served on several ministry teams for more than 20 years. He also served on the Williamson County and Cities Health District Board for two years. 



Please Join Us!

The Hutto Power Breakfast is held the
First Thursday of each month at 7:30 am

EWCHEC - Hutto 
1600 Innovation Blvd.
3rd floor
Hutto, TX 78634

No RSVP required.


COMMUNITY DEMOGRAPHICS
   
Type A Economic Development Sales Tax Allocation
Fiscal Year
January
February
Cumulative
Total
1997/98
$2,011.07
$4,154.04
$40,417.02
1998/99
$1,361.54
$3,500.62
$32,045.20
1999/00
$1,725.50
$2,507.40
$35,093.61
2000/01
$2,558.70
$5,442.41
$50,940.93
2001/02
$2,988.40
$7,732.95
$58,299.83
2002/03
$4,718.02
$8,083.69
$73,572.84
2003/04
$6,506.99
$12,126.71
$98,841.25
2004/05
$11,334.17
$22,085.49
$216,990.28
2005/06
$22,115.05
$28,355.51
$336,629.05
2006/07
$25,860.50
$30,649.89
$376,036.41
2007/08
$32,124.82
$45,591.26
$481,309.64
2008/09
$34,358.28
$47,338.22
$495,826.74
2009/10
$32,134.21
$45,362.56
$467,917.40
2010/11
$36,122.37
$46,999.77
$509,128.41
2011/12
$37,065.71
$55,486.89
$580,957.66
2012/13
$45,547.14
$55,690.20
$627,678.95
2013/14
$46,073.25
$65,767.19
$668,340.52
2014/15
$52,017.72
$69,593.21
$768,894.59
2015/16
$62,917.72
$81,488.53
$860,202.55
2016/17
$79,728.48
$94,190.51
*$399,818.07
 
 
*Cumulative Fiscal year-to-date Data Figure

 

Single Family Building Permits Issued by Month
Month
2007
2008
2009
2010
2011
2012
2013
2014
2015
20 16
2017

January
71
64
 18
20
23
10
11
18
84
  24

57

February
49
49
 15
6
11
32
53
11
12
  40
 9
March
84
47
 14
6
22
11
65
55
14 45
April
75
46
 48
6
24
19
32
54
18
103

May
37
29
 22
36
12
8
16 
29
21
17

June
44
22
 29
17
8
9
29
118
16
20
July
34
32
 39
6
20
40
43
25
24
  33
August
25
41
 22
11
17
22
32
18
21
  13
September
24
28
 24
7
10
19
18
18
10
  12
October
51
5
 19
7
5
44
28
18
31 25
November
60
9
  6
17
26
2
 24
40
34
  17
December
7
12
  7
15
9
10
 13
25
25
  18
TOTAL
561 384 263 154 187 226 364 429 310 367 66

*Cumulative year-to-date Data Figure

Year-to-Date Single Family Permits
Year
Total as of February
+/- Previous Year to Date
2015
96
231.03%
2016
64
-33.33%
2017
66
3.13%

    

December 2016 Unemployment Rates

Area

Dec '16  

Nov '16

Dec '15

Austin/Round Rock MSA

3.2%

3.0%

3.0%

Texas

 4.6% 

4.2%

4.2%

National

4.5%

4.4%

4.8%



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Tim Chase, President and CEO
512.759.2806

Hutto, Texas. Conveniently Connected™
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