FUND 20 & FUND 24

Fund Description

The Marble Falls Economic Development Corporation is a Type B non-profit corporation funded primarily by a half-cent sales tax collected within the city limits of Marble Falls. Over 93% of the EDC's annual revenue comes from sales taxes. In terms of forecasting sales tax revenue, the EDC's policy is to adopt the prior fiscal year's audited sales tax number.

The goal at the EDC is to support new and existing businesses in Marble Falls by thoughtfully and carefully reinvesting sales tax dollars into worthwhile projects and programs. When we work on enhancing our community’s amenities, we will encourage the creation of new wealth by gains in jobs and capital investments. The EDC staff is comprised of Christian Fletcher, Executive Director, and Midge Dockery, Business Development Coordinator.

The Hotel Conference Center Fund was created to account for the Hotel Conference Center project expenses. The project has been in the planning stages and is now in the construction phase. Bonds have been sold to finance the project.

Accomplished in 2021-2022

  • Continued design work on Phase 3c in the Business & Technology Park.

  • Issued over $8 million in bonds to fund park improvements such as the pedestrian bridge to connect Lakeside Park and Johnson Park, the boardwalk, power house improvements, and the trail extension in Lakeside Park; 281 bridge lighting; parking improvements on South Main and Avenue H; and expansion of the Business & Technology Park.

  • Continued funding for the Downtown Coordinator position and Downtown initiatives.

  • Extended High Demand Job Training Grant program to assist with training plumbers, electricians, accountants, certified medical assistants, and others in a consortium made up of Central Texas College, Marble Falls ISD, Workforce Network, Inc., and the EDC.

  • Increased funding for operational support of workforce development.

  • Continued partnership with the Marble Falls CVB on marketing efforts, including the in-game program for the NCAA Men’s Basketball Regional Tournament in San Antonio.

  • Continued the “Open for Business” video series to highlight new establishments in the city and the “Ambassador” video series highlighting long-term, established businesses in the city.

  • Provided more than $63,000 in community leverage funding for Pink Out, Downtown lighting, “Getting Ahead in a Just-Getting-By World” workforce program, and parks projects including the ice-skating rink, shade structures, a scoreboard, and netting.

  • Awarded more than $37,000 through the Business Improvement Grant (BIG) program to Family Wellness Center, Renaissance Doors & Windows, Hudson’s Meat Market, Top Drawer Interiors, 110 Avenue H, MF Senior Activity Center, and MF Flowers & Gifts.

  • Granted sign replacement reimbursements to Family Training Center and The Athletic Club.

  • Contributed $100,000 toward the debt service for Phase 1a park upgrades.

  • Funded portion of Putters & Gutters Family Entertainment Center’s initial capital costs through an Economic Development Agreement.

  • Completed the design development phase of Phase 1b of the Parks Improvement Plan; construction drawings are expected to be complete in August.

  • Downtown Hotel & Conference Center Project Highlights: Performance Agreement, Lease Agreement, Hotel Tax Agreement, and Purchase Agreement were executed in October; the MFEDC closed on the sale of the site to Hawkins Family Partners in December; Cooper Carry completed the design development phase in March; Planned Development District amendments approved in April; construction expected to commence late summer.

  • Provided technical assistance to 20 businesses that opened their doors in Marble Falls in FY 21-22.

  • Midge conducted 162 business visits from October through May.

  • Professional Development/Leadership Highlights: Christian attended the 2021 IEDC Annual Conference in Nashville, the IEDC Leadership Summit (online), a sales tax workshop in Garland, and the 2022 IEDC Annual Conference in Oklahoma City. He and Midge attended the Project U Conference in Burleson, the ICSC Red River Showcase in Dallas, and the TEDC Annual Conference in Ft. Worth, where Christian spoke on a panel. He also presented EDC projects updates to eight civic and business organizations. EDC Staff attended a total of 9 online webinars and conferences in FY 21-22.

  • Recognized by the TEDC for Economic Excellence in 2021 for “a commitment to professional economic development by appointed officials and exemplary professional standards demonstrated by the economic development staff” for the tenth consecutive year. The MFEDC was one of 57 organizations statewide to receive this recognition in 2021, but one of only five in the state to receive the award ten years in a row.

  • Awarded the 2022 Workforce Excellence Award for Communities Under 15,000 in Population at the TEDC Mid-Year Conference in Corpus Christi.

What We Plan to Accomplish in 2022-2023

  • Continue implementation of our strategic plan and target sector outreach, especially with our retention and recruitment efforts and workforce initiatives.

  • Promote Business Improvement Grant (BIG) program and sign replacement program for business owners who are seeking to renovate and/or make improvements to their properties.

  • Attract firms to continue expansion of Phase III of the Business and Technology Park.

  • Find, create, and market opportunities for the development of housing to support our community’s employers.

  • Continue construction of hotel, conference center, and related public realm improvements.

  • Maintain financial and planning support for park improvements and other quality-of-place initiatives.