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Sustaining long-term economic success can only come by accommodating and managing quality growth through strengthened collaboration, infrastructure investment, and fully developed regional assets.
Our regional economic development strategy, Vision 2025, purposely includes these objectives. Ensuring that our business climate is sensitive to these needs will result in good-paying jobs and new capital investments.
Already, we see exceptional results in this regard thanks to the work of our regional collaborators. Over the last three fiscal years, Hays and Caldwell Counties have seen interest from projects totaling more than $67 billion in potential new investment. This potential in new capital investment represents hundreds of thousands of potential new jobs and several millions in possible new tax base revenues.
This unprecedented interest in our regional economy is generated directly from the coordinated efforts of GSMP, our regional economic development partners, local civic leaders, the business community, and many more. Working as a team and fostering these collaborations creates sustainable quality growth for the region and employers alike, adding to the region's economic prosperity.
Similarly, we are continually preparing for growth through strategic investments that maintain the region's competitiveness in crucial areas such as transportation and utilities, allowing for increased growth opportunities across the board. Finding ways to sustain these infrastructure networks demands creativity and bold visionary leadership – especially leadership that works proactively in a unified manner.
One strong example of how we've seen this in action in our region is the forums between our leaders at the 2022 Transportation Summit. It is rare to see leaders unified at the federal, state, and local levels on plans, but the Texas Innovation Corridor proves to be an exception. Because these public and private sector leaders work together to develop short-term and long-term strategies for our region, we can accommodate and manage the growth coming to Hays and Caldwell Counties.
Finally, as we continue to develop significant assets in our footprint, we will see new opportunities as expanding companies realize our region's innovation. Regional as sets with large-scale master plans such as the San Marcos Airport and State Highway 130 will be critical to the long-term business growth of our area and encourage additional long-term development projects.
Likewise, the growth of speculative industrial space must also be encouraged throughout the Texas Innovation Corridor as incoming companies require shorter timelines. By providing the infrastructure space needed for these companies in advance, our region determines where and how we want growth to occur. We also get the distinct advantage of being more competitive than competing cities by offering ready-to-go buildings that allow companies to market faster. Planning quality growth in this space enables a more sustainable and more effective process of attracting employers to our region, resulting in a win-win scenario for us all.
Accommodating and managing quality growth is one of the most critical roles of an economic developer to ensure sustainable and functional development. As we continue to address long-term sustainability, please consider that my door is always open for your questions. If you have questions about the sustainability of economic development, reach out to me via email at [email protected] on Twitter at @JasonGiulietti.
