Return on Investment
The main goal of the Copperas Cove EDC is to have a positive return on investment for our community and lessening the tax burden on our residents and supporting public services that we all enjoy.
We do this by helping to create, replenish and grow the tax base. We work daily to promote economic growth and act as good shepherds of taxpayer resources. The target primary industries that bring new dollars into our economy and fuel the ripple effect that benefits all sectors of our local economy.
In 2019, we worked with Waffle Cone to establish a corporate headquarters and production base in Copperas Cove that will serve ice cream stores in Central Texas. We did this by partnering with John Hayes (Waffle Cone) on production equipment that will result in more revenue and more jobs.
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CG Services opens, Investing $1.3 million dollars and creating 300 jobs.
Speculative building groundbreaking and marketing plan is released, outlining a list of targeted industries and a plan for attracting these industries the building was built and land donated by the Copperas Cove Industrial Foundation. Three major prospects fell through before the building was sold to Cinergy Cinemas in 2008
GC Services expands, adding 150 jobs and $3.6 million in capital investment, bringing total jobs to 550.
First land exchange with Fort Hood started in 1999 is completed, Copperas Cove gains the first tract of land necessary to begin a reliever route. After twenty years of work plans to expedite the fewer reliever route are made with money from the City and Copperas Cove Industrial Foundation helping to start the process Plans for the second land exchange begin.
The Copperas Cove Cove Econmic Development Corporation (CCEDC) announces the completion of the Economic Development Administration (EDA) Grant project. The $1 million grant, matched b a $365,000 contribution from CCEDC, City of Copperas Cove and Copperas Cove Industrial Foundation funded the improvements to Constitution Drive from Highway 190 to Old Copperas Cove Road and also water, sewer and drainage systems through the business and industrial Parks.
Ground is broken for Frontier Mils Mall on the west side of town, providing more commercial space along the 190 corridor.
Land is sold by CCEDC to Oncor for a new substation behind the spec building, increasing the value of the industrial property nearby and improving the infrastructure needed for more development in the Constitution Avenue area. This substation relieves some of the pressure off the only other substation in town and allows Oncor to make repairs sooner since they won't have to access Fort Hood to make repairs as they have in the past.
Two new hotels announce that they will be opening Copperas Cove locations. This increase the hotel room count to 200, increases hotel room availability and property taxes and improves the attractiveness of the industrial park area nearby.
Go West campaign starts, an advertising campaign designed to promote Copperas Cove as a contender as a place to live, work and play in the central Texas area. This corresponds with the new housing and business developments being built in the city.
Walgreens begins development at the corner of 190 and Robertson Avenue.
"We are pleased to have Walgreens in Copperas Cove, helping to provide increased shopping opportunities for our citizens and keeping our tax dollars at home."
Steve Alexander, City Manager, 2006
Third land exchange with Fort Hood begun in 2005, is announced. This allows Copperas Cove the land necessary to continue development plans of the reliever route and commercial properties. Fort Hood is praised as a "true partner in helping Copperas Cove to grow and prosper" by the City Manager.
The former Wal-Mart is sold to be converted to an indoor, climate-controlled storage facility.
Fall of 2007
Walgreens opens, employing 30 people
Spec building sold to Cinergy Cinemas, owned by Jeff and Jamie Benson, for $1.5 million. The sale is the culmination of years of work from the CCEDC and the Copperas Cove Industrial Foundation. Jeff Benson credited the pre-existing spec building as being the "magnet" that attracted them to build a theater in Copperas Cove. Part of the deal is the inclusion of a digital sign along Highway 190. Of his experience on purchasing the spec building, Jeff Benson said, "I hope Copperas Cove recognizes what an excellent group of professionals work at the Copperas Cove CCEDC. Their help in this project has been a major factor in Cinergy Cinemas locating in Copperas Cove." According to the independent Economic Impact Analysis, "Cinergy Cinemas is projected to bring in excess of $3.5 million in annual taxable sales and create more than 50 jobs."
"Cinergy Cinemas is projected to bring in excess of $3.5 million in annual taxable sales and create more than 50 jobs."
Cinergy Cinemas opens with a large invitational event. The cinema-eatery design features 8 stadium-seating theaters, a two-story laser tag area, an arcade with party room and cooked food along with traditional movie-eating fare. Wine, beer, homemade pizzas and other foods are delivered to patrons in their respective theaters. This concept theater is the only one of its kind in this area.
CCEDC Board of Directors approved an Economic Development Performance Agreement/Clawback Agreement with Copperas Cove A.L, LLC(CCAL) for the Stoney Brook Assisted Living Center. According to the Agreement, CCEDC agreed to reimburse infrastructure costs to CCAL for the Stoney Brook facility in the amount of $224,000, due and payable when the Assisted Living Center opens for business, which is defined as the issuance of an occupancy permit, staff hired and residents living in the facility.
Copperas Cove and Fort Hood complete their third land exchange. This deal started in 2005, and like a other land exchanges, required many levels of approval, the final one being a literal "act of congress" to finalize.
The CCEDC Board of Directors meets and creates a three year Economic Development Strategic Plan. The Board sets news goals and revises the corporation's mission statement. Some of the most notable direct benefits to the community include increasing the CCEDC Board transparency and enhances the open and consistent communication efforts.
Heritage Plaza purchases retail space on Highway 190 for a new commercial development that will include Starbucks. The new building stands on the land that used to be Diamond Shamrock. Heritage Plaza worked with the City and the CCEDC to improve parking and infrastructure for the new location. The popular café is projected to produce $1 million in taxable sales and employ 15-20 employees receiving health benefits, retirement options, paid holidays and other benefit opportunities.
The Strategic Plan is finalized, adopted and published and shared with the community. Part of this plan includes an aggressive Business Retention and Expansion Program (BREP), designed to create a comprehensive business profile of the city and identify any common or uncommon obstacles that Copperas Cove business owners face. BREP is also in line with the Board's revised mission "to establish and maintain a comprehensive economic development program for Copperas Cove through new industry recruitment, business expansion, retention and development activity. "Ninety locally owned or managed business initially participate in the two-phase program.
CCEDC starts offering monthly business workshops as part of the BREP initiative. The CCEDC website starts to feature local business profiles, emphasizing the importance and benefits of shopping locally.
CCEDC Board of Directors approve an Economic Development Performance Agreement with Black Meg 43 to assist in their relocation and expansion to another
- CCEDC joined with Central Texas College's Students in Free Enterprise team to interview local business owners to find out what major concerns they had.
- CCEDC and Copperas Cove Chamber of Commerce announce a "Shop Copperas Cove" initiative to encourage citizens to keep their sales tax dollars local to benefit the community.
- HEB starts building more than 120,000 square foot store to replace the current 44,000 square foot location. The store will employ 100 more people, while expanding and adding store departments. Going against their normal policy for replacement stores, the corporation elected to keep their popular existing store manager and his leadership staff in place. HEB publically stated the reason it built the new store is that it wants to grow with the community and be a part of its bright future.
"You guys are on fire down here. H-E-B wants to grow with you." Ed Page, director of H-E-B Store operations
CCEDC sells the land that is to become the Five Hills Retail Center to the developer, C-Cove 90 Partners, Ltd. After over five years of land exchange deals with the Army, the Five Hills Retail Center is now a reality, which will eventually create a projected 1,500 jobs and collect $158 million in sales taxes.
Part of the "Shop Copperas Cove" initiative, the "Find it in Cove, Buy it in Cove" logo and link is added to the CCEDC and Chamber of Commerce websites. This link directs users to an interactive directory of local businesses and services. This service offers support for businesses that may not have their own website and costs nothing for local businesses to participate. The "Shop Copperas Cove" campaign is a part of the Business Retention and Expansion Program. Not having a website was identified as a major barrier to obtaining new customers by many local businesses. Nineteen businesses were the original participants. Updates to the site are made for free by CCEDC staff if requested by the business. Businesses can include printable coupons, testimonials/feedback and hours and location information.
Over 300 businesses have pages on the "Find it in Cove, Buy it in Cove" website (www.buyitincove.com). Consumers benefit because they don't have to waste time and gas money leaving town, the businesses benefit from the increased exposure and sales and the community benefits because the sales tax dollars stay local.