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“In 2022, the PEDC was faced with the challenge of securing external funds to support an infrastructure improvement project needed by a company seeking to locate in our Industrial Park,” said PEDC Executive Director Maureen Hammond. “That company was Lionshead Specialty Tire & Wheel. From there, our journey began.”
Over the next 18 months, the PEDC underwent a highly competitive application process and, in 2023, was awarded $1.3 million in federal funding, matched with $540,000 in local funding. This funding would lead to a deceleration lane from Loop 286 to 34th Street, an improvement of 34th Street, and an extension of the existing roadway, J. Eagan Street, from 30th Street to 34th Street.
La Corporación de Desarrollo Económico de París (PEDC, por sus siglas en inglés) anuncia con orgullo la finalización de mejoras cruciales en la infraestructura del Parque Industrial del Noroeste, propiedad de la PEDC. Las mejoras fueron posibles gracias a una subvención federal de $1.3 millones de la Administración de Desarrollo Económico, igualada con un 30% de financiamiento aportado por el PEDC y la Ciudad de París.
“En 2022, el PEDC se enfrentó al desafío de obtener fondos externos para apoyar un proyecto de mejora de infraestructura que necesitaba una empresa que buscaba ubicarse en nuestro Parque Industrial”, dijo la directora ejecutiva del PEDC, Maureen Hammond. “Esa compañía era Lionshead Specialty Tire & Wheel. A partir de ahí, comenzó nuestro viaje”.
Durante los siguientes 18 meses, el PEDC se sometió a un proceso de solicitud altamente competitivo y, en 2023, recibió $1.3 millones en fondos federales, igualados con $540,000 en fondos locales. Estos fondos conducirían a un carril de desaceleración desde el Loop 286 hasta la calle 34, una mejora de la calle 34 y una extensión de la carretera existente, la calle J. Eagan, desde la calle 30 hasta la calle 34.
The project was completed and celebrated on September 12 with a symbolic unveiling presented by the PEDC with support from key leaders and community guests onsite.
The event opened with a prayer by Erik Roddy, PEDC Board Member. Key speakers included City of Paris Mayor Mihir Pankaj, LionsHead Specialty Tire & Wheel President Tim Miller, Deputy District Director Erik Simien (representing US Congressman Pat Fallon), District One State Representative Gary VanDeaver, District One State Senator Bryan Hughes, PEDC Chairperson Josh Bray, and PEDC Executive Director Maureen Hammond.
“The long-term impact of this project will be $600 million of economic development,” said State Senator Hughes. “We’re talking about changing lives. Not just now but for generations to come. We want to see America bringing jobs home, and here, in Paris, manufacturing jobs are at three times the national average. Paris is already doing this right.”
“In the last year or two, I have attended more groundbreakings and ribbon cuttings in Paris than in any other location in my district,” said Representative VanDeaver. “I think that speaks volumes about the work that you guys are doing.”
“I believe in the future of Paris and Lamar County,” said PEDC Board President Josh Bray. “These infrastructure improvements enhance our industrial capabilities and pave the way for continued economic growth and prosperity in Paris. Today is a milestone day.”
In recent years, the PEDC has announced an unprecedented number of successful projects in our community while operating on a quarter-cent sales tax revenue. The commitment to these projects, along with the acquisition of land for future development, has created a pressing need for innovative solutions to secure external funding. Additional financial resources will be critical to maintaining the momentum our region has experienced over the past four years. This is why the EDA Grant represents such a significant milestone for both the PEDC and our community. The funds secured through the EDA for these important infrastructure improvements account for as much as 70% of the PEDC’s total annual revenue.
By leveraging partnerships with local, state, and federal agencies, we hope to continue our mission of improving the quality of life for all residents by supporting job retention, expansion, and creation.
The PEDC’s Northwest Industrial Park is home to companies including AMERICAN SpiralWeld Pipe, LionsHead Specialty Tire and Wheel, NTI LTD, and Atmos Energy. Currently, over 45 acres remain available, and the site is ready for industrial development.
For more information about PEDC initiatives, please visit their website at selectparistexas.com