Texarkana, USA (Sept. 27, 2023) – TexAmericas Center (TAC) today announced its continued and impressive growth in new businesses and year-over-year job growth at its industrial park, highlighted in its 2023 TexAmericas Center Annual Census of Employment and Payroll report.
TexAmericas Center, which owns and operates one of the largest mixed-use industrial parks in the United States, announced the highest combined tenant payroll and largest number of tenants on the organization’s footprint in its history.
Over the 2023 fiscal year, TexAmericas Center tenants provided $56.6 million in combined annual payroll, a 17 percent increase over 2022. Meanwhile, employment is at 1,359 jobs, an 81 percent increase year over year.
“New defense contracts stemming from support to the Red River Army Depot are partially to thank for the increase in employment and salaries,” said Scott Norton, Executive Director and CEO of TexAmericas Center. “The defense contracts have helped spur continued economic development because they’re also having an impact on surrounding businesses that are supplementing services, becoming vendors, and supporting these contracts. We have a robust ammunition and energetics cluster on our footprint, and this year’s Census report emphasizes the strategy behind those clusters.”
The nationally ranked industrial park brought in six new businesses in 2023 and boasted a 93 percent retention rate of existing tenants. Companies recorded 610 new jobs, marking a 223 percent increase over 2022, according to the report.
“We saw growth in the past year and we’re very proud of that. We’re especially proud, though, of the growth since TexAmericas Center was founded more than 25 years ago. We want to be a catalyst for progress, but more than anything we want to support the hard-working men and women in our region by fostering good jobs,” Norton said. “In just the past five years, we’ve supported businesses so they could collectively grow employment numbers by 85 percent. We hope to continue to build upon those numbers.”
In the next year, TexAmericas Center will continue to recruit domestic companies to its footprint and put increased emphasis on courting foreign investments and overseas companies that are looking to expand domestically.
The organization’s support goes beyond business interaction. Staff will go above and beyond to help families relocating to Texas with assistance in finding housing, navigating school districts, finding ESL classes, and more.
“We can’t wait to say ‘Welcome to TexAmericas Center! We’re glad you’re here,’” Norton said.
Related links:
- DCVelocity.com: TexAmericas Center Celebrates Record-Breaking Growth
- ExpansionSolutionsMagazine.com: TexAmericas Center Celebrates Record-Breaking Growth in Employment, Companies on Footprint
- Texarkana Gazzette: TexAmericas Center Celebrates Impressive Growth
- TexarkanaFYI.com: TexAmericas Center Celebrates Record-Breaking Growth in Employment
- TXKTToday.com: TexAmericas Center Celebrates Record-Breaking Growth in Employment, Companies on Footprint
