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Economic Development News news
Attend Future of Retail: Your Community Destination Workshop | H-GAC

The   Future of Retail: Your Community Destination  workshop will be from 9 a.m. to 12:30 p.m. Friday, September 21, at H-GAC Conference Room B, Second Floor. 

At this half-day workshop, participants will gain insights from experts on retail trends and future opportunities and learn how small communities are attracting and retaining retail tenants while rebranding their retail destinations through practical policies, programs, and projects. 

Breakfast begins at 8:30 a.m.  Registration  is requested. For more information, contact  Anita Hollmann  at 713-993-4587.
Explore the Gulf Coast Labor Market Analysis | Workforce Solutions

Workforce Solutions provides a monthly analysis of the Gulf Coast region's labor market. Some highlights from the July 2018 report are:

  • The region's unemployment rate fell to 4.4% but is still above the statewide rate of 4.0%
  • The region lost jobs in July, driven primarily by seasonal declines in public education
The report highlights data from the Texas Workforce Commission and the Bureau of Labor Statistics focusing on the region's 13 counties. Reports from May to July 2018 are available on Workforce Solutions' webpage .

Funding Opportunities
EDA Hurricane Harvey Funding Available

The U.S. Economic Development Administration's (EDA) Austin regional office received $129,119,000 in supplemental funding for disaster relief and is actively seeking projects to help communities in our region recover from Hurricane Harvey. The recently released  Notice of Funding Opportunity  outlines the requirements, which include the following:
  • Projects require an 20% match, which can include in-kind
  • Typical projects will range from $1-$2.5 million
  • First round of 14-15 applications anticipated to be funded by September 2018, with one or two subsequent rounds of funding
  • Must demonstrate a nexus to Harvey in terms of economic recovery or resilience
  • Eligible applicants include governments, non-profits, and universities
For more information, contact  Joshua Owens  or  Robert Peche  of the EDA.
Downtown Revitalization Grants Available | October 31       
Texas Department of Agriculture Seal

The Texas Department of Agriculture is accepting applications from non-entitlement cities and counties working to improve downtown areas. Grants are available for public infrastructure projects that work to address blight or slum conditions in downtown areas. Grant awards range from $50,000 to $250,000. For more information, contact Aubrey-Ann Gilmore.
$4 Billion Available for Rural Water Infrastructure Projects | September 30

The USDA's Water and Waste Disposal Loan and Grant program is accepting applications for rural water infrastructure projects until September 30, 2018. The USDA is providing direct loans to help rural communities build or upgrade water infrastructure. Community leaders and water district operators are encouraged to apply. Rural communities can find out more and apply through online. Contact the region's local representatives, USDA's Area Director Sabrina Glenn or USDA's Area Loan Specialist, Monica Pierre with any questions.
$2 Billion Available for Eligible Producers | November 16

Agriculture producers affected by hurricanes in 2017 may be eligible for USDA 2017 Wildfires and Hurricanes Indemnity program relief funds through November 16, 2018. All counties within the GCEDD region are eligible to apply for funds. The USDA is making immediate payments of up to 50% of calculated payments. More information and instructions on how to apply is available on the USDA's website.
Upcoming Developments
A post-acute care and assisted living community opened in August. The new 58,000 SF facility has 104 beds and is located off Parkwest Green Drive adjacent to Memorial Hermann Katy Hospital.
Work started earlier this year on the 251-unit 255 Assay Street Luxury Apartments and 144 room Courtyard by Marriot hotel. Both projects are expected to open in 2019. These projects are part of Redemption Square. When fully developed it could consist of three hotels, two to five apartment units, 750,000 to 1.5 million square feet of office space and 250,000 square feet of retail space. Redemption Square is part of Generation Park, near Beltway 8 and West Lake Houston Parkway.
Last month The Signorelli Company broke ground on a 456-unit multifamily development. The Pointe is expected to open in 2019. The multifamily project is located at the intersection of US 59 and the Grand Parkway at Valley Ranch Town Center.
A 17-acre industrial and commercial park will break ground soon off Texas 35 and Rice Drier Road. The first phase of the project will consist of two buildings with a total of 32,000 SF for commercial use.
Missouri City's City Council approved an ordinance for a mixed use development on 4.4 acres . Phase 1 of the project will consist of 103,000 square feet of nonresidential building space. Construction could begin in about a year. The project would be located along HwTexas 6, south of Glenn Lakes Lane.
Conn's broke ground on a 656,658-square-foot facility last month on 36 acres. The projected is located at 1404 Rankin Road and is expected to be complete in 2019.
Kingwood Place , a mixed-use development, will break ground in November. A 103,000-square-foot H-E-B, 41,000 square feet of retail, and approximately 300 multifamily units are planned for the 54-acre development.
Thompson 10 Logistics Center broke ground on 26.86 acres in Baytown. The 390,000-square-foot development located at Interstate 10 and Thompson Road will contain two buildings. It is expected to be completed in 2019.
Kroger recently opened a 100,000-square-foot store in Sugar Land. It anchors The Village at Riverstone , a 165,000-square-foot project. The store is located at 18861 S. University Blvd.
A 685,000-square-foot warehouse is planned on the northeast corner of Will Clayton Parkway and US 59. The development is part of Park Air59 mixed-use project. This project is expected to be complete in 2019.

Compiled from reports in the Austin Business Journal, Community Impact Newspapers, Houston Business Journal, and Houston Chronicle.
Upcoming Events

October 8 - 11 | ULI Fall Meeting  | Boston, MA

November 7-9 | CDFA National Finance Summit | Dallas, TX

October  17 - 19 |  TEDC Annual Conference  | Fort Worth, TX
October 23 |  Bringing Back Main Street Roundtable  | TBD, TX

November 9 |  Economic Development Sales Tax Workshop  | Houston, TX

The Economic Development Digest is published quarterly by the
Gulf Coast Economic Development District.