The city council on June 9 approved an EDC project that will provide Garth Lodging Corporation financial assistance to build a Holiday Inn hotel on the east end frontage road of Tomball Expressway. The amount of financial assistance the EDC will provide has yet to be determined, Executive Director Betty Reinbeck said.

That amount will be finalized and up for council approval once Garth Lodging provides invoices for infrastructure for the hotel. According to Reinbeck, the EDC will pay up to 40 percent of the infrastructure improvements for the project.

Two of the projects approved by council will provide approximately $135,000 to a pair of companies, Compass Instruments and Creacom, Inc., so that they may relocate their businesses to Tomball.

At a March 16 meeting, the city council approved the plan to provide funding for

Compass Instruments, but the dollar amount of the incentive money had not been announced. At the June 8 city council meeting, the council approved an EDC expenditure of up to $15,000 "for the creation or retention of primary jobs."

Compass will move its headquarters to a facility on South Persimmon. Reinbeck estimates that with the number of jobs Compass will create in Tomball, the company could have a 5-year economic impact of approximately $540,000.

The city council also approved an EDC project that will provide Creacom Inc. $120,000 in grant money to relocate to Tomball. Creacom provides electrical and communication services to transportation industries, such as traffic signals.

For their reporting year, the EDC has approved or adopted seven projects to bring businesses to Tomball. Their report also states that the EDC staff is "currently working with several other companies on their possible relocation to Tomball."

Comments (0)

Subscribe to this comment's feed