The big picture
The Fort Bend Economic Development Council along with the Fort Bend County Economic Opportunity and Development Department will present their findings at the June 27 workshop, shedding light on the potential areas of development the county has recently overlooked.
According to the Fort Bend Economic Development Council, the county has missed out on attracting major industrial operations and accompanying high-paying jobs due to the lack of readily available and quickly developable sites.
To address this development issue and position Fort Bend County as an attractive destination for industrial operations, a new committee has been recommended to evaluate existing policies and legislation regarding industrial site development.
Should existing policies or legislation not allow the county to facilitate such development, this new committee may propose modifications to existing laws or new legislation enabling Fort Bend County to create the necessary mechanisms to facilitate more industrial site development.
Zooming in
During the interim period between the 2023 and 2025 legislative sessions, the proposed committee, with the assistance of external legal counsel, could collaborate with the Texas State Delegation to craft legislation tailored explicitly to Fort Bend County.
Furthermore, the proposed districts/entities would be able to issue tax-exempt bonds similar to those used by municipal utility districts.
According to the county website, the county also intends to explore opportunities for securing federal, state and private funding for district development, potentially using "Opportunity Zones" to incentivize economic growth and job creation in low-income communities while providing tax benefits to investors.
The presentation and subsequent discussions may pave the way for broader policy changes and initiatives, hoping to improve influence on the county's approach to industrial development and economic growth.
