What Does Bastrop Economic Development Corporation Do?
9 Jul 2021
Economic growth is the core of a community’s vitality. The Development Corporation Act of 1979 gives Texas cities the ability to finance new and expanded business enterprises in their local communities through specific economic development organizations like Bastrop Economic Development Corporation (EDC). Successful businesses create jobs for residents, increase financial opportunities, and improve the overall quality of life in an area. However, starting and running a business is a challenging endeavor: from the established company to the start-up, Bastrop EDC gives businesses the needed assistance to achieve success.
Since 1995, after the citizens of Bastrop voted to pass a one-half cent sales tax dedicated to economic development, Bastrop EDC has been serving its thriving Texas community. Out of the two types of EDCs, A and B, Bastrop is Type B. Type A EDCs are created to fund industrial development projects such as business infrastructure, manufacturing, and research and development. Type B organizations, like Bastrop EDC, can fund all projects eligible for Type A, as well as parks, museums, sports facilities, and affordable housing. Bastrop EDC has more flexibility than a Type A, but because they are funded through sales tax, they are subject to the same Texas statutes and laws as other governmental entities.
Primary Roles of Bastrop EDC
Bastrop EDC helps forge strong connections between community and business leaders to help bring our economic, workforce, and community development into the future. We are your source for information, resources, and help.
Business Retention and Expansion
Bastrop EDC enthusiastically supports existing businesses because we recognize they are crucial to our local economy. We offer problem-solving services to help them succeed and grow. This might be as simple as offering advice and technical assistance. Additionally, we also help companies access public and private financial assistance, such as low-interest loans or grants to enable renovations, equipment upgrades, or infrastructure improvements. We also make it easy to understand and apply for the tax credits and other incentives that help businesses grow. Explore all of the compelling advantages here.
New Business Attraction
Equally as important to supporting existing businesses is the ability to attract new businesses to the area. Bastrop EDC promotes site selection so that sufficient unique sites and assets are available for commercial real estate, while also ensuring there is sufficient housing to support workforce needs. The 263-acre Bastrop Business and Industrial Park is zoned commercial/industrial with select lots available and ready for development. The Business Park sits adjacent to the Union Pacific Rail Line and is surrounded by tree covered hills and lush flats, not far from the Colorado River.
Bastrop recently passed improvement codes that make zoning and permitting easier and more efficient. This planning and development code is streamlined and user-friendly, providing clarity and flexibility for future development, moving away from a one-size-fits-all model to a more geographically-sensitive development standard that is authentic to Bastrop. The code provides more localized grid zoning (micro community zoning) and is a first of its kind to Texas. It is ideal for developers and mixed and special uses.
Support for Entrepreneurs and Small Businesses
Bastrop EDC is committed to assisting entrepreneurs and small business owners, providing advice, guidance and resources for those starting new businesses. We can help you connect with the right resources for business planning, site selection, and financing. From providing you with the market data you need, to making the community connections necessary to get up and running, we have the knowledge to help those joining the local economic community.
Assistance with Workforce Development
Finding skilled workers is one of the primary challenges for businesses today. As part of the Austin metro region, Bastrop’s workforce is over 1 million strong and growing. Due to the number of people graduating from local colleges and universities, this workforce is expanding every year and employers have talent at all levels of experience to choose from. Six colleges and universities are within an hour's drive of Bastrop and nearly 45 percent of the Austin metro population hold a bachelor’s degree or higher.
Continued development of Bastrop’s workforce is critical for businesses to succeed. In response to this need, Bastrop EDC is currently working on a new workforce development program. Meanwhile, Workforce Solutions Rural Capital Area is a local resource serving nine counties in the greater Austin area, including Bastrop County. From the Bastrop County office, Workforce Solutions provides no-cost recruitment and information to businesses hiring in the area. This includes labor market information and job fair assistance. State incentives and programs are also available. Explore additional options here.
Marketing and Promotion
Economic development organizations are at the forefront of marketing their communities to attract prospective investors and residents. Bastrop EDC promotes our community’s assets and business advantages in order to create awareness and opportunities. In addition, we have access to a network of community leaders and experienced business owners to facilitate the strategic planning of local stakeholders to develop long-range community plans. View our brochure here.
Bastrop EDC is Here for the Community
The targeted result of Bastrop EDC’s activities is the improvement of our community’s quality of life. Economic development goes hand-in-hand with community development projects such as adequate housing, parks and recreation, and downtown initiatives. Bastrop EDC promotes a continuous cycle of improvement for residents and businesses, ensuring continued growth in Bastrop. Read the complete strategic plan: “Elevating Bastrop: An Economic Development Action Plan to Attract Talent and Investment.”
Bastrop EDC welcomes the opportunity to assist you in relocating, expanding, or establishing operations in our community. Explore further how Bastrop’s ideal location, affordability, attractive tax structure, diverse workforce, and abundant amenities can benefit your business. Contact us at (512) 332-8870 or firstname.lastname@example.org.