Site Places Katy's New Brand in Spotlight

Katy's business news is looking brighter all the time, and the Katy Area Economic Development Council (EDC) drives home that point with the recent launch of its new web site, www.katyedc.org. 

The new site - updated by ED Suite, a web site firm that specializes in economic development web sites - features improved navigation graphics and pictures, new maps, new demographic information and a new Find Property Tool. The site also extols the new Katy Area EDC brand as well. Katy EDC President and CEO Lance LaCour thanked Board members and Industry Committee Members and Chairman Ken Courville for their support in updating the site.  He also thanked staff members, Melanie Easterling, Shelby Gurley and Frank Lombard for their hard work in updating the site. For more information, visit www.katyedc.org.

A thriving new element is coming to the Katy business community as Hampco and G-Tech prepare to build and expand new facilities along West Grand Parkway north.

Having enjoyed a sharp rise in business recently, Hampco - a drilling rig equipment firm which also does consulting, upgrades, maintenance and other services - needed a new and more convenient location, says Andy Grieve, the owner of Hampco and G-Tech. Grieve says a steady increase in sub-contracting made him decide to build a facility large enough to handle the process of directly designing and building equipment in-house.

Grieve chose 11 acres of property at 1625 West Grand Parkway north to launch a Phase 1, 36,000-sq. ft., $6 million facility, which will ultimately create 50 direct jobs over the next two years. Grieve established G-Tech, a new development company to support Hampco's services, and the industrial park being built will be known as the G-Tech Technology Centre.

A groundbreaking ceremony recently launched construction for the Mason Creek Office Center, a two-story, 135,716-sq. ft. office building being developed by Myers Crow & Saviers, Ltd. The office building will be located within Mason Creek Corporate, a 110-acre, master-planned, deed-restricted area at the intersection of Mason Road and the Katy Freeway.

Moody Rambin Interests' Bob Cromwell and Kevin Nolan will handle leasing assignments once the construction is completed in spring 2013.

Lance LaCour, President and CEO of the Katy Area Economic Development Council, attended the groundbreaking along with Mike Jones, Bob Ballard and Stephen de Jongh with E.E. Reed Construction, LP, and Lawrence Rennell and Bryan Rennell of Rennell Associates.

 

The Katy area will be at the center of a dynamic new office project serving the whole Energy Corridor of the Gulf Coast region.

Houston real estate firm Transwestern recently announced the land acquisition and immediate construction commencement of Westgate, a 660,000-square-foot, Class A office project within the Energy Corridor submarket of West Houston-Katy area. The development will be situated on a 20.8-acre tract with extensive frontage on the north side of Interstate 10, east of Barker Cypress Road. Westgate will consist of three buildings, each with its own parking structure:

• Building I: 248,500 square feet in four stories
• Building II: 186,000 square feet in four stories
• Building III: 225,500 square feet in five stories

The development is 67 percent pre-leased. Powers Brown Architecture designed the Westgate facility and will supervise its construction, which will be completed by E.E. Reed Construction, LP, the project's general contractor. Transwestern is developing the project through a joint venture with Miller Global Properties, LLC, a Denver-based investor and fund manager. Transwestern and Miller Global partnered earlier this year to acquire 1900 West Loop South, a 409,000-square-foot office building in the Galleria submarket of Houston.    

Transwestern acquired land for the development on September 13 from Hearst Corporation for an undisclosed amount. Transwestern acted on its own behalf for the land acquisition.

Recently, the City of Katy's City Council approved Ad Valorem (Property) Tax Incentive Guidelines at their regular scheduled meeting. These guidelines were readopted by the City Council with some minor modifications, but include provisions for new and expanding facilities in eligible industry activities like manufacturing, research, regional distribution, regional entertainment, and regional service facilities. Eligible projects must create a capital investment of $3 million with at least 25 new jobs created.

In Texas, cities and counties must adopt guidelines to be able to offer property tax abatement. A Reinvestment Zone is created in order for a city to enter into an abatement agreement; and, abatements are granted based on a percentage of the eligibleimprovements up to a maximum of 10 years.  

These abatement guidelines follow approval of the Chapter 313 policy adopted by Katy ISD. Adoption of the City Guidelines and Katy ISD Policy were recommended by Katy Area EDC.

An important new ballot issue will soon be presented to Katy voters on November 6.

The Katy Area Economic Development Council is endorsing continuation of the METRO's General Mobility Program (GMP).

In keeping with a promise METRO made to voters in the 2003 referendum, the agency will soon be asking the region's citizens to vote on the future of METRO's GMP. As spelled out in the 2003 referendum, this vote will seek a determination by voters regarding METRO's continuing support of the GMP, which is set to expire September 30, 2014.

The GMP is funded by a 25 percent allocation from METRO's 1-cent sales tax revenue and pays for the construction and maintenance of streets and roadways; bridges and grade separations; traffic-control signals; drainage renovation related to transportation facilities, and other infrastructure needs.

The Katy Area Economic Development
Council wishes all Katy residents
and businesses a safe and
Happy Halloween!