Business Prospects Strong In Tyler
By GREG JUNEK Business Editor


The new year has barely begun, but indicators point to good chances of job growth in Tyler and Smith County, Tyler Economic Development Council Chairman Barham Fulmer said Wednesday.Fulmer, addressing about 200 people during the council's 18th annual luncheon in Harvey Convention Center, said although the area started the year under a "cloud" with Goodyear Tire & Rubber Co. maintaining plans to close its Tyler plant, business prospects have continued to be very strong."There has been more prospect activity at TEDC over the last four months than I've seen in the years I've participated here," Fulmer said. "And we are on more short lists - and I mean some very short. We are so close to being able to announce some things that we can almost taste it. ... Something's going to pop, because there's too much working, and it's going to be a really good year."TEDC officials said because of confidential negotiations, they could not say what the companies were, but prospects include an Internet company project, dubbed "Project White," that would start with 100 new jobs and increase that number to 450 in four to five years."Tyler is the only location they are still considering," TEDC President and CEO Tom Mullins said.Also, a medical management company wants to expand in Tyler by constructing a 15,000-square-foot building and adding 80 new jobs.And Trane has proposed construction of a 20,000-square-foot laboratory testing facility, a $4 million investment resulting in 16 new technology jobs and nine jobs retained. The company plans to add 160 employees throughout the plant, bringing its total employee number to about 2,300, Mullins said.Tyler City Council on Wednesday approved a four-year tax abatement for the proposed Trane project, and the abatement request is scheduled to go before Smith County commissioners on Monday.Mullins presented an overview of 2006 economic activity for Tyler and Smith County, which included
A growth of the Tyler work force to 97,605 and an employment rate of 95.4 percent.
A 13 percent decrease in the number of homes sold, reflecting the national trend, but a 14 percent gain in the average price of a residential home.
Total property values at nearly $11 billion, a 10 percent increase over 2005.
Building permit values increasing 30 percent over those of 2005.
Retail sales reaching almost $3 billion, a 2 percent increase over 2005.
An increase in the office occupancy rate to 88 percent.
A decrease in city of Tyler and Tyler Independent School District tax rates.Since its beginning in 1989, the TEDC has helped create nearly 6,900 jobs, retain more than 8,700 jobs and encourage $423 million in new investment, Mullins said.Featured speaker Carlton Schwab, president and chief executive officer of the Texas Economic Development Council, agreed the Tyler area has the conditions for continued economic growth."You're the linchpin of East Texas," Schwab said. "I'm not telling you anything you don't know, but you've got the most diverse economy and you're the fastest-growing metro area in East Texas. ... For a city this size, you've got so much going on."The state of Texas has decided it wants to attract life science, advanced manufacturing, aerospace defense, information technology, telecommunications, energy and petrochemical industries, and the Tyler area has companies in just about all of these areas, he said.Since Schwab became the Texas council's president and CEO in 1999, the 900-member organization has developed into a recognized leader in the professional development of its members and a powerful voice for economic development policy in the state, according to information from TEDC.