15 minute read
ECONOMIC DEVELOPMENT
ECONOMIC DEVELOPMENT INDUSTRIAL PROJECTS
in Northern Williamson County
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by Charlotte Kovalchuk
TWO INDUSTRIAL DEVELOPMENTS AT THE CORNER OF I-35 AND SH 130 ARE SET TO TRANSFORM NORTH GEORGETOWN INTO A HUB FOR MANUFACTURERS AND DISTRIBUTORS.
Woodgate Corporate Park and NorthPark 35
The Woodgate Corporate Park will be a 12-acre highend flex/industrial site. Its two buildings, totaling more than 116,000 sq/ft, will be located across from the Georgetown Municipal Airport. Just northeast of Woodgate, Georgetown’s first master-planned industrial business park, NorthPark 35, is being developed by Titan Development. The park site is 146 acres and will include 802,000 square feet of building space.
“Georgetown is poised to become an important new business center along the I-35 corridor,” says Joe Iannacone, senior vice president of Titan Development. “With direct access to major markets like Austin, Dallas, and San Antonio, we’ve already had exceptional interest from end-users in the e-commerce, logistics, pharmaceuticals, light manufacturing, and agricultural industries. This new park is destined to become a hub of innovation for Georgetown and beyond.”
GREATER IMPACT
The project will also expand Aviation Drive to intersect with I-35 and SH 130, unlocking highway access for site users along with a direct route to the industrial park for consumers. “In my opinion, the best part about the project is the extension of Aviation Drive,” NorthPark35 leasing agent Omar Nasser says.
Currently, auto parts store Texas Speed and Performance is NorthPark35’s only tenant, but Omar anticipates food and other distributors and manufacturers, providing supplies for Tesla and Samsung, will come on board. “The tenants we are targeting will generate hundreds of jobs in both manufacturing and distribution/warehousing,” Joe says.
While NorthPark35 is intended for users in need of 25,000 to 250,000 square feet of space, Woodgate Corporate Park is designed for companies seeking a smaller footprint. “I’ve been leasing in Georgetown for over 10 years,” says Ken Mongold, who owns Woodgate and Headwater Companies, formerly known as Georgetown Commercial Properties and San Gabriel Project Management. “It’s always been hard to find supply for the 10,000 to 20,000-square-foot user. [Woodgate] is a response to that.”
There is an abundance of real estate product for the small users and the big users. The intermediate is a market being passed over. ~Ken Mongold
WORK IN PROGRESS
The development broke ground in October and two tenants have already signed on, a residential building supplier and a food manufacturer. Ken hopes to see more manufacturers come on board. “We feel like this building is suited well for manufacturing,” he says.
146 acres • 802,000 sq ft Completion in 2023
Most of all, he wants to make sure Georgetown companies stay in Georgetown, a goal motivated by watching several local manufacturers move parts of their operations to Hutto or Round Rock because Georgetown didn’t have the ECONOMIC DEVELOPMENT
space they needed. “I thought that was pretty sad, that their headquarters are in Georgetown, but some of their growth went south. The hope is that it’s in reverse, that they’re coming from the south and growing up to the north,” he says.
Woodgate Corporate Park is a 12-acre high-end flex/industrial development that will feature two buildings totaling about 116,480 square feet. $20 million capital project set for completion at the end of Q2 2022.
...and north of Williamson County
Meta—parent company of Facebook—announced an $800 million investment to construct their 17th national data center in Temple. The nearly 900,000 square foot facility will be built in Temple. Peak construction will provide more than 1,200 jobs and, once complete, the data center will support approximately 100 operational jobs.
Meta explained Temple stood out as an outstanding location due to its access to infrastructure and renewable energy, strong workforce talent pool, and support from community partners.
FROM META
Meta says the company is committed to being a positive contributor to its data center communities and looks forward to partnering with the community to invest in its long-term vitality. Much like Samsung committed for Taylor, the Meta data center in Fort Worth has provided more than $2.6 million in grants to schools, small businesses, and local organizations since opening its doors in 2017.
The Meta release reported, “Our data centers are among the most advanced, water- and energy-efficient data center facilities in the world. Designing, building, and maintaining facilities that are positive contributors to our communities matters to us. We approach sustainability from the ground up—from design and construction to energy sources, water stewardship, and responsibly managing the end of life of our equipment. “ The company claims the Temple Data Center will be at least 80 percent more water-efficient than the average data center as their cooling system relies on outside air—not water—for cooling for at least 50 percent of the year.
The Temple Data Center will be supported by 100 percent local and renewable energy. The company has already invested in more than 700 MW of new wind and solar energy in the state.
Meta also has a global goal to restore more water than it consumes by 2030. In Texas, they are investing in the Richland Chambers Creek Wildlife Management Area. This water restoration project will restore over 64 million gallons of water per year to Texas watersheds.
ECONOMIC DEVELOPMENT
by Charlotte Kovalchuk
CelLink Breaks New Ground in Growing Industrial Park
Adding EV and Battery Technology to Titan Industrial Park
Williamson County and Georgetown officials broke ground February 23 on a CelLink Corporation manufacturing facility that will be located between I-35 and State Highway 130 in Georgetown. CelLink manufactures flexible circuits used in electric vehicles and battery storage units. This build will complete a nearly 300,000-square-foot building in June in the Gateway35 Commerce Center, an industrial park backed by Titan Development. “We are excited to see Georgetown become part of the growing electric vehicle and energy storage industries,” Mayor Josh Schroeder says. “Companies like CelLink and industrial park developers like Titan will strengthen the economic foundation of our community, bringing sales tax revenue, creative talent, and good jobs to our city.”
The facility is expected to create up to 2,000 high-tech jobs in the next decade, making CelLink one of the largest private sector employers in the city. The project’s investment is estimated to be at $130 million in five years. “Williamson County is becoming known as a hub for technology and innovation due to our highly skilled and educated workforce,” County Judge Bill Gravell said. “Having another world-class project land in our county reinforces our desire to bring good paying, exceptional employment opportunities to our residents.”
CelLink CEO Kevin Coakley emphasized the manufacturing facility’s location in central Williamson County. “Georgetown provides access to a skilled and educated workforce in the region fostered by advanced Texas State Technical College and Austin Community College curricula in high-tech manufacturing. It has all the amenities of a vibrant city, making Georgetown a perfect fit for our expansion,” he says.
Titan Development Senior Vice President Joe Iannacone added, “We are thrilled to have CelLink coming to our industrial park at Georgetown to manufacture sophisticated, high-demand electronics in the flexible circuits sector. This is a perfect example of the kind of fast-growing industries Georgetown has been seeking for economic development.”
CelLink will receive an $8.02 million incentive package, including:
• A Williamson County property tax abatement for 10 years; 75 percent for business personal property and 50 percent for real property, valued at $2.11 million • A Georgetown property tax abatement of the same terms, valued at $2.18 million • An infrastructure reimbursement grant of $2.5 million paid from the Georgetown Economic Development Corporation (GEDCO)
Type A sales tax fund • A five-year $525,000 job creation grant also paid by GEDCO • The retirement of renewable energy credits to offset the company’s electric usage for five years to certify the facility as using 100 percent renewable energy, valued at up to $1 million
ADVERTORIAL
by Charlotte Kovalchuk
INSURANCE
Your Employees Will Love
Having the right insurance as a business owner is crucial. Randy Still with Texas Trusted Advisors notes, even with a smart retirement strategy, three things can threaten that goal: health, taxes, and market risks.
Health: While we all hope for a healthy retirement, our later years could involve around-theclock caregiving. When circumstances call for 24/7 care, that’s exactly what it means. All too often, kids do not live close to their parents, which creates a new set of problems and expenses.
No one wishes to be a burden to a spouse or children.
Taxes are another big concern. With the national debt at $30 trillion, only higher taxes and
Financial Martial Law will foot the bill. Financial
Martial Law gives the government the right to seize and freeze checking and savings accounts, certificates of deposit, money market accounts, mutual funds, 401(k)s, and 403(b)s for the betterment of the United States. Texas Trusted Advisors shows you how to limit your tax exposure and protect yourself from Financial Martial Law, and eventually gain up to 30 percent savings on your retirement accounts. Market Risks: The stock market has made some rich while leaving others broke. The high debt and rising interest rates are good indicators of a falling stock market. If you are 60-85 years of age, ask yourself if you can afford to lose 20, 30, or 40 percent of your retirement account.
Despite these obstacles, there are ways to protect savings and retirement funds.
The solution is understanding how putting dollars in secure places can secure wealth and well-being and provide you with a guaranteed income for life.
One way to secure assets is by rolling over your individual retirement accounts (IRA) or 401k into protected investments such as indexed annuities.
You can also purchase an Indexed Universal Life insurance policy, which includes a tax-free retirement, compound interest, and living benefits like home health and special care. If good health qualifies you, this policy will provide tax-free growth, tax-free benefits, and tax-free retirement. Your property tax can also be deferred when you reach 65 years or older, and it will be paid back when you sell your home or have passed away.
IUL POLICY
Setting up an IUL policy has been helpful for many clients, thanks to the policy’s health benefits, tax-free retirement, and tax-free death benefits. This policy has various moving parts, including age, health, and the amount of premium you would pay into your policy. Here are some ways an IUL policy can work for you: If you happen to have a chronic or critical illness along the way, you could take a portion of your death benefit. If you have a terminal illness, you can take up to 90 percent of your benefit. With these benefits, you could get the desired treatment anywhere in the world with a tax-free death benefit.
ADVERTORIAL
The IUL product will ease the pain of taking money from an IRA or 401k. If you need $50,000 for health benefits not covered by your health insurance, it is important to take out enough to pay the taxes as well. But with an IUL policy, you can take out money without owing any taxes. In an IUL policy, the death benefit with Option B allows your cash value to be included in your death benefit. For example, with a $250,000 death benefit and after 10 years of funding, your death benefit could be $350,000 as your cash value may have increased to $100,000. This is added to your death benefit.
There are countless ways to use the cash gained from an IUL policy, including having a tax-free savings account, buying a new car, remodeling a home, building a pool, etc. If you pay the loan back, you become the big winner.
FOR YOUR BUSINESS
When it comes to business partnerships, an IUL policy could have an increasing death benefit to cover the value of your partnership as well as provide a tax-free retirement plan for your partner(s). It would also help if one partner has an accident or chronic/ critical illness that would keep him or her at home with special needs.
Key Person insurance is another beneficial policy that would help if your key person passes, and it takes time to find the right replacement. As well, if you have a partnership agreement and your partner dies, his or her spouse may be your new partner, which may or may not be good for your business. Having the right plan in place would surely make a difference.
As self-employed individuals for 40+ years, Texas Trusted Advisors has experience helping clients—including doctors, lawyers, and high-end clients—and can be reached at 512-261-7660 for a free consultation. Scan the code to learn more.
BUSINESS BRIEFS
by Charlotte Kovalchuk For consideration, please email information to info@wilcobr.com
GEORGETOWN NorthPark35
NorthPark35 is Georgetown’s first master-planned industrial business park that is being developed by Titan Development on 146 acres with 802,000 square feet of building space. The project, which is set for completion in 2023, will also expand Aviation Drive to intersect with I-35 and SH 130, unlocking highway access for site users along with a direct route to the industrial park for consumers. Currently, auto parts store Texas Speed and Performance is NorthPark35’s only tenant, but other distributors and manufacturers are expected to come on board such as food distributors and Tesla and Samsung suppliers.
Woodgate Corporate Park
Woodgate Corporate Park, a 12-acre high-end flex/ industrial project, will feature two buildings totaling about 116,480 square feet across from the Georgetown Municipal Airport. The $20 million capital project is set for completion at the end of Q2 2022 and is designed for companies seeking a smaller footprint. The development broke ground in October and a residential building supplier and a food manufacturer have signed on as tenants.
Georgetown Logistics Park
A 50-acre industrial development site known as Georgetown Logistics Park is being constructed in the southwest quadrant of the I-35 and SH 130 intersection along Aviation Drive, just east of the Georgetown Executive Regional Airport. Stonelake Capital Partners will build 625,000 square feet of warehouse/distribution space across three buildings, which are expected to finish in 2023.
ROUND ROCK Sabey Data Centers
Sabey Data Centers, one of the largest data center operators and developers in the world, will build its next global data center in Round Rock in less than a year. Sabey Data Centers is headquartered in Seattle, Washington and currently operates two million square feet of data center space in Washington State and New York State. The project will demolish the old Sears Teleserv building on Louis Henna Boulevard and construct two buildings, with an investment of a minimum of $185 million in property improvements and $5 million in new equipment and business property.
Emerson
Emerson plans to expand its headquarters on Louis Henna Boulevard in Round Rock with $9 million in new investment and at least 50 new jobs. Emerson is a global engineering, technology, and software company that specializes in helping manufacturers around the world optimize operations. The expansion is expected to
finish by the end of 2023.
Depot Townhomes
The Depot Townhomes will bring 80 townhomes to downtown Round Rock, starting with 23 units in early 2023. The developer, InTown Homes, will construct the homes south of Bagdad Avenue from Mays Street to Burnet Street.
PEOPLE ON THE
MOVE
Veronica Briseño
Veronica Briseño is the City of Austin’s new assistant city manager, overseeing a $258.3 million budget and more than 1,070 employees. She began her career with the city more than 20 years ago in various roles, most recently as the chief economic recovery officer.
Dennis Covington
Dennis Covington has joined Round Rock ISD’s leadership team as chief financial officer, having previously served as CFO for Kansas City, Kansas Public Schools as well as in multiple leadership positions for Charlotte Mecklenburg Schools in the finance department and the United States Air Force as a director of programs and budget.
Shane Glaiser
Shane Glaiser is Round Rock’s new fire chief after being promoted from assistant fire chief. He began his career in 1995 and was promoted to assistant chief in 2017, during which he oversaw the construction of several new stations and served as the project lead for the department for the construction of the Public Safety Training Center that opened in 2018.
Lisa Hill
Lisa Hill was named Faith in Action Georgetown’s executive director as the nonprofit organization heads into its 21st year of providing transportation for Georgetown seniors. Lisa was previously executive director of the Eden Clinic and LeadingAge Oklahoma, which provides training and advocacy for long-term care providers across the state.
DeWayne Street
DeWayne Street is Leander ISD’s first chief of diversity, equity, and inclusion. He brings a wealth of experience to the role, including a career in education as a high school teacher in Wisconsin, diversity consultant, and diversity, equity, and inclusion chief for Round Rock ISD.
Sylnovia Holt-Rabb
Sylnovia Holt-Rabb has taken the helm as Austin’s new director of economic development. She has worked for the City of Austin for 21 years in various roles and now directs the day-to-day operations of the Cultural Arts Division, Small Business Program and Support Service.
Robert Luckritz
Robert Luckritz is Austin’s new EMS chief and has worked in EMS for more than 25 years, serving different roles including paramedic, instructor, field supervisor, EMS chief, and hospital leader.
Ryan Smith
Ryan Smith has been named Round Rock ISD’s chief of teaching and learning. He has 19 years of education experience, including serving as the executive director of teaching and learning, director of professional development, assistant principal at Walsh and Deerpark middle schools, and special education teacher at Deerpark.
