TOGETHER - SHAPING THE FUTURE.
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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.
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Upcoming Events:
Power Breakfast
March 2, 2017
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Development Corporation
Board of Directors
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
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LETTER FROM
THE
PRESIDENT and CEO
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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!
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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.
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Type A Economic Development Sales Tax Allocation
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Fiscal Year
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January
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February
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Cumulative Total
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1997/98
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$2,011.07
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$4,154.04
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$40,417.02
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1998/99
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$1,361.54
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$3,500.62
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$32,045.20
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1999/00
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$1,725.50
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$2,507.40
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$35,093.61
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2000/01
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$2,558.70
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$5,442.41
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$50,940.93
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2001/02
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$2,988.40
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$7,732.95
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$58,299.83
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2002/03
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$4,718.02
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$8,083.69
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$73,572.84
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2003/04
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$6,506.99
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$12,126.71
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$98,841.25
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2004/05
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$11,334.17
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$22,085.49
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$216,990.28
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2005/06
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$22,115.05
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$28,355.51
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$336,629.05
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2006/07
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$25,860.50
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$30,649.89
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$376,036.41
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2007/08
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$32,124.82
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$45,591.26
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$481,309.64
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2008/09
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$34,358.28
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$47,338.22
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$495,826.74
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2009/10
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$32,134.21
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$45,362.56
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$467,917.40
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2010/11
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$36,122.37
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$46,999.77
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$509,128.41
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2011/12
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$37,065.71
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$55,486.89
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$580,957.66
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2012/13
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$45,547.14
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$55,690.20
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$627,678.95
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2013/14
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$46,073.25
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$65,767.19
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$668,340.52
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2014/15
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$52,017.72
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$69,593.21 |
$768,894.59
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2015/16
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$62,917.72
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$81,488.53
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$860,202.55
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2016/17
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$79,728.48 |
$94,190.51
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*$399,818.07
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*Cumulative Fiscal year-to-date Data Figure
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Single Family Building Permits Issued by Month
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Month
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2007
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2008
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2009
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2010
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2011
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2012
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2013
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2014
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2015
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20
16
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2017
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January
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71
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64
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18
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20
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23
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10
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11
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18
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84
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24
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57
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February
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49
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49
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15
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6
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11
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32
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53
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11
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12
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40
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9 |
March
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84
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47
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14
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6
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22
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11
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65
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55
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14 |
45 |
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April
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75
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46
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48
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6
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24
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19
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32
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54
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18
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103
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May
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37
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29
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22
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36
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12
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8
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16
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29
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21
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17
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June
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44
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22
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29
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17
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8
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9
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29
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118
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16
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20 |
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July
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34
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32
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39
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6
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20
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40
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43
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25
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24
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33 |
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August
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25
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41
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22
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11
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17
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22
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32
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18
|
21
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13 |
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September
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24
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28
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24
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7
|
10
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19
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18
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18
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10
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12 |
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October
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51
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5
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19
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7
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5
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44
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28
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18
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31 |
25 |
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November
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60
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9
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6
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17
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26
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2
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24
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40
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34
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17 |
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December
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7
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12
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7
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15
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9
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10
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13
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25
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25
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18 |
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TOTAL
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561 |
384 |
263 |
154 |
187 |
226 |
364 |
429 |
310 |
367 |
66 |
*Cumulative year-to-date Data Figure
Year-to-Date Single Family Permits
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Year
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Total as of February
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+/- Previous Year to Date
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2015
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96
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231.03%
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2016 |
64
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-33.33%
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2017 |
66
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3.13%
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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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