Res 1988-111 - Laserfiche WebLink

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manufacturing at the first of 1986. In addition, the large Kroger Distribution Center located in San Marcos is for sale. It is unknown what change this may bring to the employment picture of San Marcos once a buyer is found. The project calls for the use of private bank injection, SBA 504 injection, and for a corporate equity inj ection. Private Bank $ 428,000.00 41.55% SBA 504 $ 353,000.00 34.27% Texas Capital Fund $ 140,000.00 13.59% Corporate Equity $ 109,000.00 10.58% TOTAL $ 1,030,000.00 100.00 The project capitalizes on underutilized capacity in that the property to be purchased is currently unoccupied and has been for several years. The property has deteriorated slightly due to vandalism and lack of continuous upkeep. Management intends to restore this property to a more productive capacity. The project and the property improvements will make a definite impact on the economy in the San Marcos area. Since the buildings already exist, no additional infrastructure is needed and the business will tap into already existing facilities. The majority of people employed in San Marcos are working in either a) education-- including the I.S.D., Southwest Texas State University, The Baptist Academy, and Brown School, or b) the tourist and visitor industry--including Aquarena Springs, Wonder World, and supporting accomodations. Many of the positions in the two tourist attractions are part-time positions filled by SWTSU students. Manufacturing accounts for approximately 6% of the employed labor force. While this company will not diversify the economic base directly in that the business currently exists in San Marcos and will not be adding any new products, the addition of the manufacturing jobs will tend to diversify the local economy away from education and tourism. Dr. Henry Oles, President of EPS, contacted the Rural Capital Area Private Industry Council (PIC) in October. And, as documented by letter, contract preparations for JTPA funding for on-the-job training to fill 25 entry level positions are presently underway. JTPA program guidelines mandate that participants must meet low income eligibility requirements. Employment Resources, JTPA administrative agency in San Marcos, will assess and refer the individuals to staff in the facility. This project does not involve an intrastate relocation. This is an expansion of an existing business currently located within the same city. The company plans to maintain its current operation and employment while adding the new site and new employees.