Lubbock's Economic Forecast
By: Michaela MacDonald
Updated: October 31, 2012
"I think Lubbock, TX is an excellent place to have a business. I think its a great community," said Lloyd Whetzel, President and CEO of X-Fab Texas, an electronic manufacturing company.
He says job incentives from the city have helped his company bring in new projects.
Whetzel said, "We had the opportunity to start X-Fab Texas in 1999 and Market Lubbock I think was there in the very beginning with job incentives, tax abatements, things that would really a start up company to help get us off the ground."
X-Fab Texas is one of 16 companies to be helped by LEDA-- Lubbock's Economic Development Alliance, just this year.
"This past year we introduced 16 companies that were new to Lubbock or were expanding in Lubbock-. They have promised to create 564 new jobs over the next three to five years," said John Osborne, President and CEO of LEDA.
In fact, LEDA has brought in almost 5,000 jobs since 2004. At the luncheon Wednesday afternoon, Osborne celebrated beating out San Antonio, Houston, and Fort Worth with a project that brought 77 jobs to Lubbock last year.
Osborne said. "That was an award called the community economic development award. We won it last fall, not quite a year ago and it is one of the most prestigious awards for our type of organization. It comes from the Texas Economic Development Council and its a great honor."
Texas comptroller Susan Combs said shes seen a lot of economic development in Lubbock in the last five years.
"I think Lubbock has one very unique feature it has sufficient cultural and city cohesion. So when you see something happening its really because everybody is at the table making it happen. That's not to say there aren't other great cities but you've got a really good size and so when you do something in Lubbock it can affect the whole city," said Combs.
Whetzel says he thinks the Lubbock community is the best tool to bring in new jobs.
He said "The people in Lubbock can't be beat. So bring people here even though its flat, very soon they get to know the people and then they don't want to leave."
He says job incentives from the city have helped his company bring in new projects.
Whetzel said, "We had the opportunity to start X-Fab Texas in 1999 and Market Lubbock I think was there in the very beginning with job incentives, tax abatements, things that would really a start up company to help get us off the ground."
X-Fab Texas is one of 16 companies to be helped by LEDA-- Lubbock's Economic Development Alliance, just this year.
"This past year we introduced 16 companies that were new to Lubbock or were expanding in Lubbock-. They have promised to create 564 new jobs over the next three to five years," said John Osborne, President and CEO of LEDA.
In fact, LEDA has brought in almost 5,000 jobs since 2004. At the luncheon Wednesday afternoon, Osborne celebrated beating out San Antonio, Houston, and Fort Worth with a project that brought 77 jobs to Lubbock last year.
Osborne said. "That was an award called the community economic development award. We won it last fall, not quite a year ago and it is one of the most prestigious awards for our type of organization. It comes from the Texas Economic Development Council and its a great honor."
Texas comptroller Susan Combs said shes seen a lot of economic development in Lubbock in the last five years.
"I think Lubbock has one very unique feature it has sufficient cultural and city cohesion. So when you see something happening its really because everybody is at the table making it happen. That's not to say there aren't other great cities but you've got a really good size and so when you do something in Lubbock it can affect the whole city," said Combs.
Whetzel says he thinks the Lubbock community is the best tool to bring in new jobs.
He said "The people in Lubbock can't be beat. So bring people here even though its flat, very soon they get to know the people and then they don't want to leave."
