New construction shows that economy is thriving in Nacogdoches - KTRE.com | Lufkin and Nacogdoches, Texas

New construction shows that economy is thriving in Nacogdoches

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NACOGDOCHES, TX (KTRE) -

Economic development is also under way in Nacogdoches.

"We're covered up in activity right now."That's a direct quote from the chair of the Nacogdoches Economic Development Corporation. The expansion of existing industry and new retailers can't be ignored.

KTRE News wanted to find out why the new development is going on right now, as opposed to last year or next year. The search for answers started during a drive on the Nacogdoches loop Wednesday morning.

On the daily commute every day, motorists might notice something different about Loop 224, other than the faster speed limit. There's construction going on, and new businesses are going up.

The most noticeable is Ludco Electric. It's going into a new building, which will be twice the size of its existing facility less than a quarter a mile down the road.

"Last year was real slow," said Jason Yeley, the general superintendent at Ludco Inc. "I mean we had to cut back a little bit, but this year we picked up quite a few jobs and got plenty of guys working."

When an existing business expands it's usually good news for a lot of people. All these pickups in the Ludco parking lot belong to sub-contractors busy at work.

KTRE News discovered that the new building won't be sitting idle.

"Bright Coop is expanding into that business and they'll be building or in the process of building a new one and that's great," said Ed Pool, the former chair of NEDCO. "It's an expansion of two businesses in town."

Wanting to find out more, KTRE News traveled to Bright Coop. However, the company's executives said it is premature to talk about it at this time.

A visit to an economic guru in town a couple of weeks ago revealed that there is now less hesitation about taking a leap of faith.

"Recent studies have shown that there is quite a pinned up demand," Pool said.  "There's been such an uncertainty in the last three or four years they've actually sat on cash and so now they're beginning to invest in infrastructure for their business."

Consequently, a competitive field for new business has opened up.

"The jobs that are represented by these leads are in the hundreds, so we're very excited about the prospect of getting some new manufacturers," said David Alders, the NEDCO chair."

Economic developers still contend with vacant properties and even a closed down businesses, but overall, their drive to work is promising.

Business owners are also watching the gradual increase in interest rates. They're realizing now is the time to lock in rates.

Copyright 2013 KTRE. All rights reserved.

 

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