2019 Year End Report
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At year 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 2018-2019.
Job creation and retention: Through nine new KEDC Economic Development Performance Agreements, companies projected to create 128 new jobs and retain 492 for a total of 620 jobs under contract. Job retention and creation counts are above three- and five-year averages.
Diversity: Of the 15 active agreements during 2018-2019, only three were related to the energy sector, at 20 percent of total agreements. That percentage is well below the level of 47 percent recorded in 2013.
Projects: Nine companies signed economic development agreements. The number of companies committing to an agreement is almost twice the three- and five-year average and three times more than previous recent years.
Impact: Companies under new Economic Development Performance Agreements are projecting new investment of $35,543,726, which is more than the five-year average. Companies operating under existing agreements continue to exceed investment projections, this year by more than $9 million.
Incentives: KEDC performance-based incentives are investments in the growth of Kilgore. These investments are based on the economic impact of each project and are measured by the rate of return and payback period of the investment. Economic impact is determined by a variety of factors, including number of employees, payroll, contribution to ad valorem and sales taxes, type of industry, and length of agreement. Below is the average for the nine agreements closed this fiscal year.
Agreements |
Jobs Under Contract |
Investment Under Contract |
9 |
620 |
$35,543,726 |
Past Reports
2019 Mid Year Report
2018 Year End Report
2018 Mid Year Report
2017 Year End Report
2017 Mid Year Report
2016 Year End Report
2016 Mid Year Report
2015 Year End Report
2015 Mid Year Report
2014 Year End Report
2013 Year End Report
2013 Mid Year Report
2012 Year End Report