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2015 Year End Report

At each year’s end, KEDC reflects on its Strategic Plan as a whole as well as the Mission and Vision Statements to determine how its accomplishments and activities are moving the organization forward. Below is a summary of accomplishments for fiscal year 2014-2015.
KEDC Mission Statement
To enhance a business climate that is conducive to job creation and retention, improving the standard of living for Kilgore residents.
2014-2015 accomplishments through KEDC Economic Development Performance Agreements
★ 468 jobs retained.
★ 68 new jobs created.
★ 536 total jobs under agreement.
The total number of jobs under agreements increased slightly from the last two fiscal years, up from 502 in 2013- 2014 and 492 in 2012-2013.
KEDC Vision Statement
A strengthened and diverse economy that is considered to be a prime business location.
2014-2015 accomplishments through KEDC Economic Development Performance Agreements
★ Companies invested $11.5 million.
★ Incentives averaged 8% of company investment, although individual agreements varied depending on individual company variables. Variables include number of employees, payroll, contribution to ad valorem and sales taxes, and NAICS code.
While investment numbers are down from 2013-2014 at $18,712,000 they are up from 2012-2013 when companies invested $10,876,000. In addition, the number of agreements related to the energy sector continued to decline from 47% in 2012-2013 to 30% this fiscal year.
Committed to Kilgore
Asset and infrastructure development were key areas this year. The board directed the expense of $5.1 million in those categories including $2.2 million for city projects and $1.9 million for more traditional infrastructure developments, including roads and communication fiber to support business interests.
And to progress the marketability of Kilgore to primary employers, the board directed almost $1 million to be spent on asset development in Synergy Park and for new property on FM 349 as well as on workforce development at the Advanced Technology Center.
Click HERE to read the entire report.