Board of Directors & Investors |
Commerce and trade are fundamental to any community’s economic health and stability. While the overall U.S. economy is improving somewhat, the economy in the New Braunfels area is still trying to recover from setbacks resulting from the flood of 2002 and several plant closures and layoffs. Compounded by increased competition for new jobs and investments, the intensity of the economic development environment in which we find ourselves demands we seek new approaches to ensuring our economic future.
The Solution
Spurred on by such opportunities as the Toyota Assembly Plant coming to San Antonio and New Braunfels’ ever-growing potential as a visitor destination, three primary initiatives have been identified to capitalize on these opportunities and position New Braunfels as a leading business and tourist destination in Central Texas..
The first is a major escalation of our Marketing efforts targeted to Prospective Businesses and Visitors. A major component of the marketing initiative will be to implement a comprehensive strategy for attracting Automotive Suppliers and Distributors that will undoubtedly move to establish facilities near the Toyota Assembly plant in San Antonio. Construction of a new, expanded Highway Visitors Center on IH-35 and promoting an expanded civic center to convention and meeting planners comprise the other essential elements of the plan to put New Braunfels in front of key prospects.
The second initiative is to leverage the existing facilities, sites and community assets we possess to strengthen our Product – New Braunfels, Texas.
Finally, the Greater New Braunfels Economic Development Foundation is about creating a Business Environment second to none. Whether it’s a new business considering New Braunfels as a prospective site, or one of our existing businesses looking to expand – fostering a pro-business attitude requires innovative policies and incentive programs that tell our partners and customers we are indeed “open for business.”
Texas Perspectives, Inc. of Austin, Texas estimates that success in the above strategies has the potential of creating the following results*:
Annually, these achievements will produce increased tax revenue for community services:
*Based on attracting 4 Tier Two and 4 Tier Three automotive suppliers in 2005 – 2008 time frame; 12 additional civic center events; 10,000 additional visitors
Putting the strategies of the Greater New Braunfels Economic Development Foundation into action will require a minimum investment of $500,000 over the next three years. The allocation of those funds includes:
A. Collateral material development, professional staffing, and advertising and public relations initiatives pertaining to:
q Site Consultants
1. Highway Visitor Center Construction at Seguin Street and IH-35
2. Convention/Meeting Marketing & Professional Staffing
Product Development: $125,000
B. Business Park Enhancements
B. Incentives Development
C. Foreign Trade Zone Development
D. State/City/County Business Advocacy