HUNTER DWORACZYK [email protected]
Taylor Economic Development Corporation CEO and president said he is excited about the private nonprofit’s future.
Ben White, who began his role in October, said he is bringing a revised budget for Taylor EDC to the Taylor City Council during its Thursday, Feb. 22 meeting.
“It’s a more true representation of the expenses and revenue of the TEDC,” White said. “We feel like transparency is important. We have a new matrix that we share at our board meetings that show the activities we are doing, so we are transparent there as well.”
The amended budget suggests Taylor EDC is receiving $4.1 million more in revenue than was budgeted for the fiscal year originally. Samsung Austin Semiconductor construction and interest incomes are listed as the added revenue sources.
In return, the budget lists Taylor EDC as spending $4.2 million more than originally budgeted. Revenue over expenses is about $120,000 less than originally budgeted.
White said the group seeks to create an economic development strategic plan if the revised budget is approved. He told members of the Taylor Rotary Club that those involved in local organizations will likely be called on to help aid the strategic plan.
“It’ll probably be a national group that will come in and help us determine weaknesses, strengths, what our target sectors should be moving forward, what are some subsectors in those target sectors and where should we spend time recruiting,” White said.
White, who was previously the economic director for Cedar Park, said it is a unique time in Taylor history.
Taylor EDC has a responsibility to keep the character and history of Taylor while growing financially, White said.
While White said city economic leaders will work to help bring in manufacturers associated with the future Samsung Austin Semiconductor plant, one of Taylor EDC’s main goals is to diversify incoming business.
“We are also going after other sectors,” White said. “We’re going to go after medical device manufacturers. We’re going to go after retail and hotels. We’re going to look at downtown and make sure downtown is vibrant.”
During times of growth, White said residents need to be good neighbors to new businesses and employees.
“We have to grow the tax base,” White said. “The cost of government, the cost of providing service to the citizen is only going up. If you don’t diversify the economy and grow the tax base, your tax bill is going to go up.”
He added that Taylor is looking for businesses that are “good corporate citizens” and looking to be involved with the community.
Taylor EDC is trying to recruit the primary employer positions over retail chains, White said. The strategy is to recruit the larger manufacturing companies and let the shops work itself out.
“Retail follows rooftops, and they follow where the workers are,” White said.
Taylor EDC is a Type A, 4A nonprofit corporation founded by the Taylor voters in 1994. The organization is funded by 0.5% of the annual sales tax from the city of Taylor and is a separate entity with a separate staff and budget.
