2023 Economic Development Services Agreement - Pasadena

2023

ECONOMIC DEVELOPMENT SERVICES AGREEMENT

This report to the Pasadena Economic Development Corporation will highlight Economic Alliance activities impacting growth to Pasadena’s business/commercial tax base and improving the region’s business climate. Working to ensure that Pasadena is conducive to the capture of state and federal funding along with private capital investment and job creation.

ECONOMIC IMPACT ON PASADENA 14-YEARS of Economic Development Wins impacting Pasadena Annual Tax Revenue

$31.5M

30

2,200+

$5.3B

of Annual Tax Revenue (09-23)

Project Wins

Jobs Created

in Capital Investement

PASADENA ECONOMIC DEVELOPMENT WINS - ’23

$5M

4

118

$855M

of Annual Tax Revenue

Project Wins

Jobs Created

in Capital Investement

13 New Jobs 60 Jobs 425 Retained Jobs $250M $515M New Petrochem operation/ Expansion of Petrochem operation. Received EZ designation from City/ engaging County permit and infrastructure upgrades.

aided in County permit and infrastructure upgrades.

30 Jobs $80M

15 Jobs $10M

New Petrochem operation/engaged County permit and infrastructure upgrades.

Warehouse operation/ engaged Pasadena on permitting assistance.

- NEW COMPANIES TO PASADENA -

PASADENA PROJECT PIPELINE - ‘23

Early stages of evaluation and no immediate next steps.

6 PROJECTS Inquiries

1 REAL ESTATE Development

EXISTING OPERATIONS INQUIRIES Petrochemical operation provided State and Local incentives info.

Petrochemical operation provided regional support for DOE subsidy application.

Logistics/Warehouse operation provided Freeport Exemption info.

INTERNATIONAL PROJECT INQUIRIES - GENERAL INFORMATION ABOUT PASADENA Brazilian petrochemical operation.

Spanish adhesive production operation.

German petrochemical operation.

REAL ESTATE DEVELOPMENT INQUIRIES Developer met with Pasadena Public works about site development on Red Bluff and a separate site on 225 – discuss water connection scenarios.

TRANSPORTATION INFRASTRUCTURE Advocacy for funding and completion of upgrades to transportation assets in Pasadena through Economic Alliance’s 88th Legislative Agenda and TxDOT priority list that includes: Funding and completion of all 8 direct connectors of the Beltway 8 Ship Channel Bridge.

Resurfacing HWY 225 to improve current road surface issues.

Commitment to study the redesign of HWY 225 to include elevated managed lanes and a new 610 ship channel bridge.

PORT HOUSTON Supporting one of Pasadena’s largest assets by advocating for Federal Funding to support the Houston Ship Channel Widening and Deeping: Economic Alliance organized a DC fly in event in May with a 44-person Leadership Team, including City of Pasadena officials.

Conducted 28 meetings with Senate, Congressional and Association representatives to discuss the Houston Port regions Federal Policy Priorities.

EMPLOYMENT OPPORTUNITIES/WORKFORCE DEVELOPMENT Economic Alliance is working to close the skilled worker gap and connect economic opportunities in the Houston Port region. Directly marketing career paths and job opportunities to student and school administrators: 40 Career Path presentations at 48 School Districts in front of 4,000 Students and Administrators

PASADENA CONVENTION CENTER Economic Alliance’s signature event the Gulf Coast Industry Forum has brought a diverse array of industry, government, and community stakeholders to the Pasadena Convention Center for 14 consecutive years: 10,500 attendees - 2 State of Texas Governors - U.S. Senators and Congressmen - CEO’s - Plant Managers - Local Officials.

In 2023, the Economic Alliance hosted 850, attendees, 21 Speakers and Panelists and 35 Company Exhibitors from across the Texas Gulf Coast and provided: Public Support for proposed event venue and upgraded Convention Center that will grow the Gulf Coast Industry Forum.

TO MARKET AND GROW A VIBRANT REGIONAL ECONOMY

MISSION

THANK YOU FOR YOUR CONTINUED SUPPORT

203 Iv y Avenue, Suite 20 0 D e e r P a r k , Te x a s 7 75 3 6 2 81. 476 .9 176 alliancepor tregion.com