TexAmericas Center (TAC), a prominent player in the world of industrial parks, has reason to celebrate as it unveils remarkable achievements in its latest 2023 TexAmericas Center Annual Census of Employment and Payroll report. The report showcases astounding growth in both new businesses and employment figures, solidifying TAC’s position as a vital economic driver in the region.
TAC, renowned for owning and operating one of the largest mixed-use industrial parks in the United States, proudly revealed its highest combined tenant payroll and the largest number of tenants on its footprint to date.
During the 2023 fiscal year, TAC tenants collectively contributed $56.6 million in annual payroll, reflecting a substantial 17 percent increase compared to 2022. Furthermore, the employment numbers surged to 1,359 jobs, marking an extraordinary 81 percent year-over-year growth.
Scott Norton, the Executive Director and CEO of TexAmericas Center, attributed a significant portion of this success to new defense contracts stemming from support to the Red River Army Depot. He stated, “The defense contracts have helped spur continued economic development because they’re also having an impact on surrounding businesses that are supplementing services, becoming vendors, and supporting these contracts. We have a robust ammunition and energetics cluster on our footprint, and this year’s Census report emphasizes the strategy behind those clusters.”
In the year 2023, TAC welcomed six new businesses while achieving an impressive 93 percent tenant retention rate. Notably, these new businesses generated 610 jobs, marking a remarkable 223 percent increase over the previous year.
Norton expressed his pride in the organization’s growth and its impact on the community, saying, “We hope to continue to build upon those numbers and be a catalyst for progress.”
Looking ahead, TexAmericas Center has ambitious plans to recruit domestic companies to its footprint while intensifying efforts to attract foreign investments and overseas companies seeking to expand domestically.
However, TAC’s support extends beyond business interactions. The organization is committed to helping families relocating to Texas by providing assistance in finding housing, navigating school districts, and accessing ESL classes, among other services.
“We can’t wait to say ‘Welcome to TexAmericas Center! We’re glad you’re here,'” Norton emphasized.
About TexAmericas Center:
Located on the Texas side of the Texarkana metropolitan area, TexAmericas Center is a real estate powerhouse that owns and operates one of the largest mixed-use industrial parks in the United States. With approximately 12,000 development-ready acres of land and over 3.5 million square feet of commercial and industrial space, TAC serves four states, including Arkansas, Louisiana, Oklahoma, and Texas.
TexAmericas Center has earned recognition from Business Facilities magazine as one of the top 10 industrial parks in the country for four consecutive years, most recently ranking No. 3 in 2023. Tenants benefit from exceptional transportation access through a network of state highways, interstates, air freight, and rail lines, including seven rail lines that converge on the Texarkana region.
Additionally, TAC offers third-party logistics (3PL) services to assist companies with inventory management, warehousing, and fulfillment needs.
As a designated US Opportunity Zone, New Market Tax Credit Census Tract, Foreign Trade Zone #258, and a Texas Enterprise Zone, TexAmericas Center combines the operating capabilities of a municipality with the flexibility of a traditional real estate development company, providing customized real estate solutions.
For more information about TexAmericas Center, visit texamericascenter.com.
