SUGAR LAND OFFICE OF ECONOMIC DEVELOPMENT
ANNUAL REPORT
202 1
CONTENTS ABOUT SUGAR LAND
4
ABOUT SUGAR LAND OFFICE OF ECONOMIC DEVELOPMENT
6
PROJECTS
7
SWEET STORIES
14
MARKETING SUCCESS
20
INCOME STATEMENTS
22
Learn more about the sweetest city in Texas
Learn more about the Sugar Land Development Corporation and the Sugar Land 4B Corporation
Major projects accomplished by the Sugar Land Office of Economic Development
Sweet success in 2021
Read more about the major marketing success we accomplished this year Take a glance at our fiscal year 2021 income statement
2021 ANNUAL REPORT
3
GROUND BREAKING AT ACCREDO PACKAGING, INC.‘S FOURTH EXPANSION - OCTOBER 2021
2021 ANNUAL REPORT
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ABOUT SUGAR LAND
From major corporate headquarters to beautiful master-planned communities surrounded by water, a world-class entertainment venue, to high end shopping and dining experiences, recreational opportunities, and historical centers, Sugar Land, Texas has it all! Sugar Land serves up big city amenities with small town hospitality and access to global markets. Sugar Land has a healthy and stable office market with a high occupancy rate and high rate of tenant lease renewals. Retail establishments contribute to an enhanced lifestyle for residents of Sugar Land, with a majority of national chains mixed with locally-owned restaurants and neighborhood shopping. Unemployment in Sugar Land has typically been lower than county, regional, state and national averages. Also, because Sugar Land has a highly educated workforce, the income of residents is well above average. This is the Sugar Land difference that tells why doing business in this Texas region is one of the best decisions you can make.
LEARN MORE AT SUGARLANDECODEV.COM
Nestled in the heart of Fort Bend County, one of the most ethnically diverse counties in the United States, Sugar Land offers a culture-filled life set in a beautiful natural backdrop. Life in the city also offers a large diversity of retail, dining and entertainment to attract new residents, employees and even those looking for a date night in Sugar Land.
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Sugar Land’s close proximity to the fourth largest city in the United States makes it a prime location for the manufacture and distribution of goods. The major freeway and transportation line Interstate 69/U.S. Highway 59 runs diagonally through Sugar Land and into the heart of Houston, with eight main lanes east of State Highway 6, connecting with multiple major interstates and highways. This network of major roadway allows businesses to transport goods quickly and efficiently to the area’s airports, ports, and rail lines.
2021
NEXT DOOR TO THE 4TH LARGEST CITY IN THE U.S. - HOUSTON
2021 ANNUAL REPORT
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ABOUT SUGAR LAND OFFICE OF ECONOMIC DEVELOPMENT Sugar Land Development Corporation The Sugar Land Development Corporation (SLDC) is a “Type A” economic development corporation authorized under Texas law to levy an economic development sales tax to promote, assist and enhance economic development activities for the benefit of the City.
Sugar Land 4B Corporation The Sugar Land 4B Corporation (SL4B) is a “Type B” economic development corporation created to promote, assist and enhance economic development activities and quality of life opportunities within the City of Sugar Land and to encourage economic development.
Projects the SLDC supported include Smart Financial Centre, city capital improvement projects, Sugar Land Town Square infrastructure, Sugar Land Regional Airport, and the University of Houston at Sugar Land campus.
Projects the SL4B supported include the University of Houston at Sugar Land campus, Sugar Land Town Square infrastructure, Houston Museum of Natural Science at Sugar Land, and Constellation Field.
Since inception, total sales tax revenues for the Sugar Land Development Corporation totaled $120,836,208.
Since inception, total sales tax revenues for the Sugar Land 4B Corporation totaled $118,236,927.
PROJECTS The Sugar Land Office of Economic Development (SLOED) has continued to be proactive in capitalizing on opportunities to expand, construct or relocate businesses to the city to ensure Sugar Land remains an economic powerhouse within the Houston region. These proactive efforts ensure a strong economy, support quality services for Sugar Land residents and allow the city to maintain the second lowest tax rate in the state among cities of similar size. SLOED works with many of Sugar Land’s primary employers and local businesses to help them navigate through what they need to succeed, grow and expand. Notable project completions this year include:
49,290,000
$
New Jobs Announced
301
Projects Announced
4
500 Industrial Blvd.
The $15 million redevelopment of the former National Oilwell Varco site at 500 Industrial Boulevard was made possible through an agreement approved by the SLDC with Sage Dulles, Ltd., an affiliate of Lovett Industrial LLC, and Boise Cascade Building Materials Distribution, L.L.C. The Class A industrial development totals more than 320,000 square feet. Not only did the project create new industrial product in the Sugar Land market, but it also allowed Boise Cascade to expand its product line. Boise’s new business venture will contribute $4 million in personal property, $4 million in inventory annually and 60 new jobs.
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Total Capital Investment Announced
Lovett Industrial
2021
2021
FISCAL YEAR
Accredo Packaging
Bluebonnet Nutrition
Accredo Packaging, Inc. (API) manufactures and supplies sustainable high added value flexible packaging predominantly for the pre-packaged foods and consumer products markets in North America. Sugar Land is the location of the corporate headquarters and manufacturing facility for API. SLOED assisted with API’s fourth expansion in Sugar Land, bringing its total campus development to 578,000 square feet.
2021
Bluebonnet Nutrition Corporation is a family-owned company that manufactures nutritional supplements. SLOED assisted with Bluebonnet Nutrition Corporation’s expansion into a new 128,000 square foot building in the Sugar Land Business Park. The new structure will be Bluebonnet Nutrition’s third location in Sugar Land and will expand its manufacturing and analytical testing operations.
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PG Golf
Accredo Packaging, Phase III
PG Golf is based and headquartered in Sugar Land, Texas and is the parent company for a collection of superior golf brand names with proven track records of performance. As a procurer and distributer of recycled golf balls, PG Golf is known for being sustainable and environmentally conscious. SLOED assisted with PG Golf expansion into a new office and warehouse building built to house a state-ofthe-art operation. New capabilities include an AI-based Vision system for sortation and a Golf Ball refinishing operation using Titleist Golf Ball Company technology. This expansion will retain 125-130 jobs in Sugar Land, add 10 new jobs, and bring approximately $2.5 million in capital investment for build out improvements.
2021
SUGAR LAND SKEETERS NAMED HOUSTON ASTROS TRIPLE-A FRANCHISE TEAM
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In 2007, the City of Sugar Land launched a plan to drive economic growth by investing in local entertainment and amenities. As part of this vision, the City and local developers worked together to build Constellation Field, home of the Skeeters, with $36 million of publicprivate funding organized by SL4B and the goal to one day serve as home to a Triple-A baseball team. In April of 2021, that dream came true after the Sugar Land Skeeters were officially acquired by the Houston Astros and named the Triple-A affiliate of the Major League franchise.
2021
The City of Sugar Land has committed $10 million of SL4B funds to renovate the stadium over a three-year period with the Astros planning to invest several million more in the coming years. Improvements in the first year included new full field stadium netting, new batting cages, and a complete redesign of weight rooms and clubhouses.
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Other upgrades included the addition of a new bullpen fan area, new, creative seating areas around the ballpark and a completely new playing surface. The partnership between the Sugar Land Skeeters (now Sugar Land Space Cowboys) and the Astros is a major victory for the city of Sugar Land. The move from independent to Triple-A baseball is estimated to generate $10 million more in economic impact per year.
The Sugar Land Space Cowboys and Astros’ new partnership and all the benefits that come with it will further establish Sugar Land as a city invested in its residents with a quality of life unmatched by any other suburb in the Houston metro area. Sugar Land restaurants, hotels and retail shops anticipate a major uptick in business as baseball-goers seek additional leisure activities on game day.
2021
Memorial Herman Sugar Land July 2021
SLOED, in partnership with the Sugar Land Legacy Foundation, hosted a week-long virtual campaign to highlight businesses within the community that exemplify the diversity and high quality of life in Sugar Land. The pivot from an in-person event to a virtual campaign was made to continue recognizing exemplary Sugar Land businesses during the COVID-19 pandemic. The Sugar Land Strong Campaign occurred from May 24-28 and featured videos that highlighted Sugar Land restaurants, small businesses, primary employers, higher educational institution, hospitals, and the announcement of the Community Award winner. Memorial Hermann Sugar Land was selected as the winner of the Sugar Land Strong Campaign’s Community Award for their outstanding contributions to the Sugar Land community. Since the onset of the pandemic, medical staff have cared for over 3,243 COVID-19 patients at Memorial Hermann Sugar Land and administered over 50,080 doses of the COVID-19 vaccine including five mass vaccination events at Smart Financial Centre at Sugar Land. To view all the videos recognizing businesses through Sugar Land Strong, please visit
www.sugarlandecodev.com/sugar-land-strong-campaign
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SUGAR LAND STRONG CAMPAIGN
2021 ANNUAL REPORT
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SUGAR LAND IS SLOED main focus in 2021 has been to accomplish the #AllInForSLTX vision that was casted in 2020 by supporting Sugar Land’s business community through meaningful and well-executed placemaking initiatives, events, and business retention and expansion efforts. Driven and focused, SLOED succeeded in supporting our local economy and positioning Sugar Land as a strategic location for business investment and as an economic powerhouse.
JUPITER PIZZA & WAFFLE CO. WAS A SWEET CASH 2021 PARTICIPATING BUSINESS
IMPACT
Thanks to the outstanding support from local businesses and consumers, the program was able to provide immediate cash flow of up to $5,000 for each of the 85 businesses that qualified and stimulate the local economy through the 7,100 Sweet Cash Vouchers that were printed. A total of $83,150 of gift card submissions were collected from participants purchasing a voucher from any Sugar Land business. Local businesses responded with overwhelmingly positive feedback thanks to new customers that discovered their business through the program, immediate cash flow, and the free marketing gained through the program.
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The flagship initiative of the City of Sugar Land’s #AllInForSLTX campaign, Sweet Cash, returned in 2021 to continue to support local businesses that have endured economic uncertainty due to the pandemic. Any Sugar Land business was able to benefit from the program. Customers were able to BUY a voucher or a gift card from a local business and GET a thank you voucher from a participating business in return.
2021
BUY A VOUCHER, GET A THANK YOU VOUCHER
SWEET STORIES OF 2021
2021
BROOKS STREET BRIDGE MOSAIC ART DEDICATION JUNE 2021
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2021
2021
PLACEMAKING
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ART MUSEUM TX This year, Sugar Land Town Square welcomed the addition of Art Museum TX, a Fort Bend-based non-profit dedicated to the presentation and understanding of Texas contemporary art through exhibits, events and education. Sugar Land’s latest art museum opened adjacent to the central plaza and features 4,000 square feet of contemporary art. This addition to Sugar Land Town Square was made possible through funding from the SL4B #AllInForSLTX initiative.
As part of the #ALLINFORSLTX initiative, the Request for Placemaking program provided funding for innovative and creative projects that would increase business resiliency and revitalize underutilized spaces in Sugar Land.
2021
SUGAR LAND’S FIRST PARKLET Sugar Land’s first parklet was created in The Shops at Williams Trace shopping center thanks to funding from the SL4B. As part of the #AllInForSLTX campaign, this pilot project is a public seating platform that transforms curbside parking spaces into an engaging community space that will attract visitors to local businesses. The City intends for parklets to revitalize and activate underutilized spaces and increase the quality of life for citizens and visitors of Sugar Land. Since the project’s inception, the parklet and surrounding businesses has seen an increase of 1,662 average weekly visitors compared to the previous year.
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2021
LONE STAR GARAGE MURALS
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The Lone Star Garage features a new mural that was funded through the Request for Placemaking program and intended to draw visitors to Sugar Land Town Square to dine and shop at local businesses. The mural itself is located on the southwest wall of the garage and features a local artist’s work and interactive art from Flight School Studio.
PLACEMAKING
SUPPORTING BUSINESS AND MENTAL HEALTH
As part of the #AllInForSLTX initiative, the city of Sugar Land completed many mental health art projects throughout the community to start a conversation and break the stigma surrounding mental health. Projects accomplished included Project Hope murals at Brazos River Park, Sugar Land Memorial Park and Cullinan Park in a partnership with To Write Love On Her Arms to implement creative mental health resources throughout the community. These #AllInForSLTX accomplishments will increase resiliency for Sugar Land’s community while simultaneously supporting local artists, which both has been economically impacted by COVID-19.
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PROJECT HOPE MURALS
2021
Supporting Well-Being Through Art
The city of Sugar Land recently revealed three Project Hope murals at Brazos River Park, Sugar Land Memorial Park, and Cullinan Park. “Blooms,” “Butterflies” and “Birds” are three murals the city commissioned as part of the city’s #ALLINFORSLTX initiative to increase visibility of mental health resources and dispel stigma surrounding mental health. In partnership with Hope for the Day, a suicide prevention and mental health education nonprofit organization, Sugar Land intends for the murals to serve as a resource for it’s residents and visitors. The project is part of the city’s #AllInForSLTX initiative.
2021
ECONOMY AT A GLANCE
MARKETING SUCCESS 2021 was a momentous year for the SLOED. In partnership with Sugar Land’s robust business community, the city was continuously recognized as a prime location to live and do business in. Through our strategic media relations program, Sugar Land is advancing as a leader in each of its key industries, building awareness from a national, regional, and hyper-local perspective. With storylines ranging from a supportive community for entrepreneurs to being one of the nicest places in America, Sugar Land’s brand is quickly gaining steam, fueled by the following narratives and achievements.
61%
with Bachelor Degree and Higher
116,860
$
Median Household Income
2021
Sugar Land: A Supportive Community for Entrepreneurs
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Highlighting the city’s award-winning program, Sweet Cash, proved to be lucrative, generating press from regional and hyper-local outlets such as Houston Chronicle and Community Impact Newspaper to national outlets like Reader’s Digest and American City & County. Each story highlighted Sugar Land’s dedication to its business community, underlining the success of the city’s ambitious and successful economic recovery program.
120,673 Population
COMMERCIAL REAL STATE
Office Inventory
8.6 M
Sugar Land’s Resilient and Exemplary Growth Leveraging our ever-expanding business community and partnerships, Sugar Land’s growth was meticulously documented across trade, regional and national outlets, toting success stories like the city’s Triple-A affiliate team and business expansions from major employers such as Bluebonnet Nutrition and Accredo Packaging. By amplifying each success, Sugar Land demonstrates resilience and exemplary growth, playing an integral role in the attraction of our city’s key industries. Sugar Land’s Three-Pronged Approach Supported by site selection consulting and our national media relations program, a digital marketing strategy was established to identify opportunities to improve and promote Sugar Land’s online presence. Using tactics such as weaving in SEO keywords to improve website content and ranking, establishing a uniform social brand, and investing in paid search, the integration of our three programs ultimately allowed us to identify blind spots and maximize results.
8.8M
Industrial/Flex Inventory
10.2M
11.6M
Retail Inventory
9.2M
10.4M
HOTELS
Occupancy (%)
39.3%
61.2%
Average Daily Rate ($)
74.24
$
103.72
$
Revenue Per Available Room ($)
29.24
$
103.72
$
2020 2021 Source: STR, Costar, BLS, ESRI2021
“Americans have always been known as industrious, hard-working and unafraid to take risks, but some cities are hustling a bit harder than others.” According to details included in the announcement. Sugar Land’s mean household income of $157,923 and an unemployment rate of only three-percent were cited as examples of a city founded on the principles of prosperity and commerce.
“LANDING THE COVETED TOP POSITION ON OUR LIST, BUSINESS OWNERS IN THIS SUBURB OUTSIDE OF HOUSTON KNOW A THING OR TWO ABOUT DOING IT BIGGER.”
Sugar Land’s selection over other finalists such as Frisco, Texas, Scottsdale, Arizona, Coral Springs, and Florida was based on factors such as mean income, unemployment rates, people with a bachelor’s degree or higher, number of business applications, percent of population that starts a new business and home ownership.
READ MORE AT www.sugarlandecodev.com/about-us/news-and-press/
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Sugar Land recently landed the top spot in “The 15 Most Ambitious U.S. Cities” list – an award that recognizes the best business-savvy cities in the nation. According to Verizon Business Ready, the heart of the American entrepreneurial spirit takes root in cities like Sugar Land.
2021
IN THE NEWS
SLDC
INCOME STATEMENT Sugar Land Development Corporation Monthly Financial Statement For the Period Ending September 30, 2021
2021
FY20
ANNUAL REPORT
22
Revenues Sales Tax Interest Income TIRZ Assignment Miscellaneous Total Revenues
Expenditures Economic Development Program Economic Development Incentives Debt Service and Fiscal Charges Transfers to Other Funds Contractual Services Total Expenditures Revenues Over/(Under) Expenditures Accrued Sales Tax Debt Service Reserve Fund Balance ‐ Beginning Fund Balance ‐ Ending
FY21
FY21
FY21
Year‐to‐Date
Annual
Year‐to‐Date
Year‐to‐Date
of
Actuals
Budget
Budget
Actuals
Budget
$
6,452,229 116,808 1,250,000 52,589 7,871,626
473,598 1,081,515 4,090,984 2,162,622 15,490 7,824,209 47,417 (1,116,802) (4,044,391) 10,303,367 $ 5,189,591
$
6,717,097 25,000 1,375,000 ‐ 8,117,097
$
656,057 690,000 4,053,721 1,434,123 3,050 6,836,951 1,280,146 (1,011,328) (3,936,355) 10,236,444 $ 6,568,907
6,717,097 25,000 1,375,000 ‐ 8,117,097
656,057 690,000 4,053,721 1,434,123 3,050 6,836,951
$
1,280,146 ‐ ‐ ‐ ‐
$
Percent
6,812,263 5,841 1,375,000 ‐ 8,193,104
101.42 23.36 100.00 0.00 100.94
483,031 604,272 4,053,721 1,410,862 2,000 6,553,887
73.63 87.58 100.00 98.38 65.57 95.86
1,639,217 (1,011,328) (3,936,355) 10,236,444 $ 6,927,978
‐ ‐ ‐ ‐ ‐
SL4B
INCOME STATEMENT Sugar Land 4B Corporation
Monthly Financial Statement For the Period Ending September 30, 2021 FY20
FY21
FY21
FY21
Percent
Year-to-Date
Annual
Year-to-Date
Year-to-Date
of
Actuals
Budget
Budget
Actuals
Budget
$
Interest Income TIRZ #1 Assignment Miscellaneous Operating Revenue Bond Proceeds
6,452,229
$
$
6,717,097
$
6,812,263
101.42
11,766
78.44
98,624
15,000
15,000
156,886
145,300
145,300
145,300
100.00
80,000
80,000
80,000
80,000
100.00
6,787,739
6,957,397
7,049,329
101.32
-
0.00
7,049,329
101.32
594,896
69.61
27,157,311
Total Revenues
6,717,097
6,957,397 -
-
33,945,050
6,957,397
364,374
854,670
6,957,397
Expenditures Economic Development Program Reserve for Opportunities
-
Transfers to Other Funds
1,520,567
Sales Tax Incentive Grant Debt Service Contractual Services Total Expenditures
854,670
81,886
81,886
-
0.00
3,051,983
3,051,983
2,989,461
97.95
766,322
3,400,000
3,400,000
2,500,093
73.53
30,193,448
3,022,875
3,022,875
3,021,375
99.95
13,039
1,700
1,700
1,639
96.42
32,857,750
10,413,114
10,413,114
9,107,464
87.46
(3,455,717)
1,087,300
(3,455,717)
(2,058,135)
-
Accrued Sales Taxes
(1,116,802)
(1,011,327)
-
(1,011,327)
-
Debt Service Reserve
(2,811,500)
(2,441,010)
-
(2,441,010)
-
9,437,421
10,415,398
-
10,415,398 4,904,926
-
Revenues Over/(Under) Expenditures
Fund Balance - Beginning Fund Balance - Available
$
6,596,419
$
3,507,344
$
-
$
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Sales Tax
2021
Revenues
Sugar Land Office of Economic Development 2700 Town Center Blvd. N Sugar Land, Texas 77479 w w w. s u g a r l a n d e co d ev.co m