Paris Economic Development Corp received clean audit, and directors gave approval to proceed with a one-year purchase option for a prospective industrial client to purchase roughly 15 acres in the
When Dr. Steve Clifford steps down Monday from his position on Paris City Council, he should do so knowing much has been accomplished during his six years in office, four of those as mayor.
From taking action against substandard work on infrastructure projects, to initiating the revitalization of the cityâs antiquated wastewater plant, to creating common sense safety protocols for rental properties, to leading the city through difficult race relation issue, to working with the Paris Economic Development Corp. to make it more efficient, and to convince American SpiralWeld Pipe Co. to come to Paris, Clifford and his fellow council members have made Paris a better place to live.
Despite weather delays, and the late arrival of equipment due to the worldwide novel coronavirus, American SpiralWeld Pipe Co., the largest manufacturer to build in Paris from the ground up in the past 35 years, is expected to kick off production of large diameter water/wastewater steel pipe next month to serve a growing market in Texas and the Southwest.
âOur management team and our employees have pushed through and worked hard during less than ideal situations,â plant manager Casey Johnson said of the 47 workers who are in the final stages of commissioning and testing equipment. âWeâve had to persevere through several severe or bad weather events in the area, and Covid-19 affected us from a timing perspective, and from receiving all the equipment needed to begin operations.
Paris Economic Development Corp. looks for opportunities to attract new industrial prospects while it gives support to companies already here as Lamar County and the Red River Valley recoup from the challenges of a year-long battle with the novel coronavirus.
Although the local economy may have not suffered as much as other parts of Texas, as indicated by increased sales tax revenue, the lifeblood of the economic engine, future sales tax revenue remains uncertain with the closing of several retail outlets within the city.
To prepare for uncertainties, the newly expanded seven member PEDC board, up from a previous five members, in early February took a look at the organizationâs financial status and has since brought on board both a local accounting firm and a legal firm to ensure the organization stays its course.
Paris Economic Development Corp. directors gave staff authority to seek proposals for a line of credit at a Tuesday meeting, perhaps a prerequisite for borrowing money from the city in an attempt to save the economic engine money while providing added revenue to city coffers.
The idea to lower the interest rate PEDC currently pays locally on borrowed funds and to increase the amount of interest the city receives on investments has been discussed in the past by both Paris City Council and the PEDC board.
At an April 12 meeting, city councilors directed staff to obtain a secured loan of some type backed by land or perhaps a line of credit in the amount of money the organization plans to borrow from the city.