Staggering numbers were given at the last Bryan city council meeting about local economic development.
Research Valley Partnership (RVP) president Todd McDaniel says they’ve worked with more than 30 companies over the last eight years.
McDaniel says that amounts to $34 million in payroll, $253 million invested in equipment, $55 million in new valuation during 2014, and the projected additional valuation in 2015 of $231 million.
The council agreed with the RVP that eight companies are in substantial compliance with economic development agreements.
Among them is the new Axis Pipe and Tube plant, where city manager reported the 2015 appraised value is $235 million, almost twice the $120 million that’s required to receive incentives from the city.
And the controller at Axis, Gary Massey, says in less than two years they’ve purchased $5.5 million dollars of goods and services from 80 local businesses.
McDaniel also reported the average salary at the new Nutrabolt headquarters is $80,000, which matches the average throughout the biocorridor…and that’s more than twice the county average.
Click HERE to read the RVP report presented to the city council.