Texarkana rail park gets $1m-plus Econ Development grant
July 23rd, 2021
July 23, 2021 - TRA Newswire -
TexAmericas Center, one of the largest mixed-used industrial parks in the country, formerly a 12,000 acre Department of Defense property in Texarkana, has been awarded an $864,550 grant from the U.S. Department of Commerce’s Economic Development Administration (EDA) for new rail facilities and to refurbish tracks currently in operation.
Local investment will add $216,138 to the EDA grant and is expected to create 157 jobs, retain 5 jobs, and generate $250,000 in private investment.
TexAmericas Center is a State of Texas-sanctioned Local Redevelopment Authority that functions both as an economic development organization and an industrial real estate development and management company. The center currently owns, operates, and maintains 36 miles of rail line for 33 tenants with over 1.1 million square feet of leased space.
Seven rail lines meet at Texarkana with over 125 trains passing through the community per day. TexAmericas Center provides tenants with a 12-car transload facility, a 350-car classification yard as well as rail car storage and 24/7 switching and movement services.
In a news release Scott Norton, CEO and Executive Director of TexAmericas Center, was quoted as saying "As TexAmericas Center continues to grow and expand our facilities, having the best equipped facilities available for our current and future tenants will be paramount to encouraging continued growth. Since more shippers are likely considering rail transportation as a viable alternative to trucking amid the national truck driver shortage, this EDA grant will significantly help us build upon and further enhance our already extensive rail services to meet this anticipated increase in rail demand, which will in turn help us retain current and attract new businesses to the region", according to Norton.
The funding was led by the Northeast Texas Economic Development District (NETEDD). “The Economic Development Administration plays an important role in helping communities implement their plans to provide the vital infrastructure that businesses need to be successful,” said Jorge Ayala, Director of EDA’s Austin Office. “This EDA investment will design and build critical rail infrastructure to support the growth of industrial and commercial businesses within TexAmericas Center, leading to additional job opportunities and a stronger regional economy.”
TexAmericas Center is constructing a 150,000-square-foot spec building, expected to be completed in August 2021.
The three campuses of TexAmericas were formerly the government's Lone Star Army Ammunition Plant and Red River Army Depot.
TexAmericas Center, one of the largest mixed-used industrial parks in the country, formerly a 12,000 acre Department of Defense property in Texarkana, has been awarded an $864,550 grant from the U.S. Department of Commerce’s Economic Development Administration (EDA) for new rail facilities and to refurbish tracks currently in operation.
Local investment will add $216,138 to the EDA grant and is expected to create 157 jobs, retain 5 jobs, and generate $250,000 in private investment.
TexAmericas Center is a State of Texas-sanctioned Local Redevelopment Authority that functions both as an economic development organization and an industrial real estate development and management company. The center currently owns, operates, and maintains 36 miles of rail line for 33 tenants with over 1.1 million square feet of leased space.
Seven rail lines meet at Texarkana with over 125 trains passing through the community per day. TexAmericas Center provides tenants with a 12-car transload facility, a 350-car classification yard as well as rail car storage and 24/7 switching and movement services.
In a news release Scott Norton, CEO and Executive Director of TexAmericas Center, was quoted as saying "As TexAmericas Center continues to grow and expand our facilities, having the best equipped facilities available for our current and future tenants will be paramount to encouraging continued growth. Since more shippers are likely considering rail transportation as a viable alternative to trucking amid the national truck driver shortage, this EDA grant will significantly help us build upon and further enhance our already extensive rail services to meet this anticipated increase in rail demand, which will in turn help us retain current and attract new businesses to the region", according to Norton.
The funding was led by the Northeast Texas Economic Development District (NETEDD). “The Economic Development Administration plays an important role in helping communities implement their plans to provide the vital infrastructure that businesses need to be successful,” said Jorge Ayala, Director of EDA’s Austin Office. “This EDA investment will design and build critical rail infrastructure to support the growth of industrial and commercial businesses within TexAmericas Center, leading to additional job opportunities and a stronger regional economy.”
TexAmericas Center is constructing a 150,000-square-foot spec building, expected to be completed in August 2021.
The three campuses of TexAmericas were formerly the government's Lone Star Army Ammunition Plant and Red River Army Depot.