Private Investors in the Chamber’s Economic Development program were presented an update on the Economic Development team’s recruitment and retention activity. The information presented including an update on each of the 25 projects initiated since October 1, 18 of which are new developments, 47% being office, 35% industrial and the remaining retail/mixed use. Irving currently holds a vacancy rate of 20.9%, the lowest in the last 5 years.
Following the Investor meeting, strategic partners joined the investors for the quarterly Economic Development Advisory Council meeting. Angelos Angelou with Angelou Economics from Austin presented analysis he conducted to determine the return on investment from the investment made by the City. Steve Brown, Assistant Manager-Commercial, Dallas Central Appraisal District, gave a presentation on factors influencing the tax appraisal of commercial property.
YaLonda Lockett from Reliant Energy serves as Vice Chairwoman of the Economic Development Advisory Council.