Lockhart EDC Gains Approval for New 75-Acre Industrial Park
December 2, 2020

The Lockhart Economic Development Corporation has been granted authorization to move forward with purchasing a tract of land located along SH 130 to develop an industrial park suitable for the types of large industrial, manufacturing and distribution prospects identified as targets in the city’s economic plan.

The new industrial park located near the intersection of SH 142 and FM 2720 will make shovel-ready sites available for purchase. The development of the 75-acre park is a key component of the Lockhart EDC’s new Target Industry Strategy adopted in October, which prioritizes developing land to be ready for prospects.

“The advantage of the site is the opportunity to create a significant location for manufacturing and distribution,” City Manager and Lockhart Economic Development Corporation President Steven Lewis said. “The site’s high visibility and transportation access coupled with the flexibility to sell the land makes for an ideal scenario.”

The park would be the largest in Lockhart, and the tract of land upon which it will be built far exceeds the size of any other available shovel-ready tract located within the city limits.

“Larger parcels of land are essential for Lockhart to compete for large economic development projects,” Lockhart EDC Director Mike Kamerlander said. “The Target Industry Strategy recommended Lockhart EDC acquire a site of 100 acres or more to develop its next industrial park. While this site is 75 acres initially, there is ample land around the site to expand in the future.”

Funding for the project is made possible by the voter-approved .05% sales and use tax collected within the city for the benefit of the Lockhart EDC.

The purchase and phase 1 of development of the property will be funded through three main sources:

• LEDC Sales Tax Revenue Bonds: $1.6 million (estimated)

• LEDC Fund Balance: $1.5 million

• A $1.5 million contribution from Caldwell County

Phase 2 of development would begin once land sale proceeds are enough to pay for those improvements without applying for additional credit.

Under the terms of the LEDC Sales Tax Revenue bond, the LEDC will pledge its dedicated economic development sales tax revenue to the repayment of the bond note. The Lockhart City Council on Tuesday night gave approval to the issuance of the bonds, clearing the LEDC to move quickly to close on the purchase of the property and begin development.

“This industrial park is an important investment in Lockhart’s growth,” Mayor Lew White said. “The types of companies Lockhart will be able to accommodate with a large industrial park will have the ability to create jobs, increase and diversify the city’s property tax base, and provide us with more partners who will give back to our community.

“We applaud the EDC for its hard work on this plan and thank Caldwell County for its contribution to the area’s future economic growth.”

The $1.5 million contribution from Caldwell County will be paid back primarily through the sale of the land.

“More jobs, more potential community partners and a diverse property tax base benefits residents of greater Caldwell County,” Caldwell County Judge Hoppy Haden said. “We look forward to watching this tract of land’s evolution from field to a flourishing industrial park.”