ArkLaTex Eyes News
TexAmericas Center Celebrates Record-Breaking Growth in Employment, Companies on Footprint - (Sept 29, 2023)
Texarkana, USA (Sept. 27, 2023) – TexAmericas Center (TAC) today announced its continued and impressive growth in new businesses and year-over-year job growth at its industrial park, highlighted in its 2023 TexAmericas Center Annual Census of Employment and Payroll report.
TexAmericas Center, which owns and operates one of the largest mixed-use industrial parks in the United States, announced the highest combined tenant payroll and largest number of tenants on the organization’s footprint in its history.
Over the 2023 fiscal year, TexAmericas Center tenants provided $56.6 million in combined annual payroll, a 17 percent increase over 2022. Meanwhile, employment is at 1,359 jobs, an 81percent increase year over year.
“New defense contracts stemming from support to the Red River Army Depot are partially to thank for the increase in employment and salaries,” said Scott Norton, Executive Director and CEO of TexAmericas Center. “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.”
The nationally ranked industrial park brought in six new businesses in 2023 and boasted a 93 percent retention rate of existing tenants. Companies recorded 610 new jobs, marking a 223 percent increase over 2022, according to the report.