ECONOMIC INVESTMENTS COME TO THE COASTAL BEND (PART II)
In this week’s article, I want to continue to discuss the economic development that we are experiencing in South Texas and the Coastal Bend. As we have discussed over the past couple of weeks, our area has seen significant investment from both domestic and foreign based companies. These investments are important because they are creating jobs here at home and spurring additional economic growth. In the last two articles, I have talked about the effect the Eagle Ford Shale has had on our area as well as the effect of the oil and gas industry on the State of Texas and the large investment by the Chinese-owned high quality seamless pipe company TPCO.
This week, I would like to start off talking about one of the recent investments to come to our area by a Texas domestic company, Schlitterbahn Waterparks and Resorts. Schlitterbahn Waterparks and Resorts is a family owned water-based entrainment business that was initially founded in 1966 with one location in the Texas Hill Country. With the inclusion of their newest location on Padre Island, they now operate 4 locations in the State of Texas and 1 in Kansas.
Schlitterbahn Corpus Christi is a $41 million, 65-acre waterpark which will provide guests with on-site lodging, a Torrent Tidal Wave River, rides, slides, a Boogie Bahn and golfing. The new park is to tie in with a master plan that will include a marina in Lake Padre, new hotels, condos and residential homes. The new park is to open this coming summer. If you would like to learn more about or get an update on this new investment coming to the Coastal Bend, you can go to Schlitterbahn.
Another industry that is coming to the Coastal Bend is Voestalpine, a steel making and processing group. The welcome addition of this new business shows that our area features many strong assets that have proven to be very attractive to foreign and domestic companies alike. This is good for economic development in our area as well as job creation. The Voestalpine facility will see a total project development investment of around EUR 550 million or at today’s exchange rate, approximately $750 million. In addition, once it is fully operational, the plant is estimated to create around 150 jobs. This comes as another significant investment by a foreign company, which is looking to make our area and South Texas a part of their family.
Many of these manufacturing projects boast significant financial investments in our community, along with creating a variety of opportunities for job growth. With this new project, the company plans to utilize state of the art technology to produce high quality HBI (Hot Briquetted Iron), which is better known as “sponge iron.” The plant will use a natural gas furnace rather than a coke-based blast furnace. As a result of this process and other new technologies, the company’s methods will be more environmentally friendly. As plans currently stand, the launch of this plant is slated to start in early 2016. If you would like to learn more about this project, feel learn more visit Voestalpine Group
If you would like to learn more about the economic investments coming to our community you can go to Corpus Christi Regional Economic Development Corporation.
If you have questions regarding the giving opportunities mentioned in this article, please do not hesitate to call my Capitol or District Office. As always, my offices are available at any time to assist with questions, concerns or comments (Capitol Office, 512-463-0672; District Office, 361-949-4603.
– State Representative Todd Hunter, District 32
Rep. Hunter represents Nueces (Part) County. He can be contacted at todd.hunter@house.state.tx.us or at 512-463-0672.
