Industrial recruitment the talk at Rotary
This week's Rotary Club of Mineral Wells speakers were Steve Butcher, center, of the Area Growth Council, and Richard Ball, right, president of the Mineral Wells Industrial Foundation. They told Rotarians attending Wednesday's weekly luncheon about the two entities and how they work together to recruit businesses to Mineral Wells and the area.
Butcher talked about several of the most recent recruitment successes, Precision Ammunition, which is working on renovating the former Peco building on Garrett Morris Parkway to begin production of rifle ammo early in 2017. Another one that expects to soon open is a document restoration company, SPI, which is occupying the former officer's club at Wolters Industrial Park.
Another is the planned relocation of Brazos Valley Spring Water from Millsap to Mineral Wells. The expanding company plans to purchase the Brazos Outlet Mall property at U.S. Highway 180 East and FM Road 1195. Butcher said efforts are under way to keep one of the property's tenants, VF Factory, in town.
The City of Mineral Wells and Palo Pinto County fund the Industrial Foundation. Butcher contracts with the Industrial Foundation to perform recruitment efforts and help companies. In some cases, such as with smaller companies wanting to grow, Butcher helps them develop their business plans and walks them through many of the necessary steps. If a company qualifies for a Texas Capital Fund grant, Butcher compiles, writes and puts the intricate grant together and makes the application.
Mineral Wells is the biggest user in the state of the Texas Capital Fund grant, which provides interest-free loans that he said can save a business around 35 percent in property taxes. When a grant is awarded, it goes to the city, which purchases the property then leases it to the business, usually on a 20-year term.
The deals can take months to put together, and they often have to happen out of the public's view until a time when they can go public.
Both Butcher and Ball says anyone with questions about the AGC or Industrial Foundation, which has been in existence locally since 1953, are welcome to contact and talk with them.
Pictured with Butcher and Ball is club president Jimmy Walker.
Rotary Club of Mineral Wells meets every Wednesday at noon at Holiday Hills Country Club for lunch, networking and socializing, updates on club projects and a program of interest. Please join us, or contact a Rotarian for more information and an invite.