MDC and Midland City Council Approve Incentive for Growth

At a special meeting of the Midland Development Corporation (MDC) on Friday, May 15, 2009, the MDC Board of Directors approved an economic development agreement for $2,000,000 to Permian Plaza, LLC, a wholly owned subsidiary of Basic Energy Services, L.P., for a new, state-of-the-art parking garage with approximately 440 vehicle spaces. The agreement was later approved by the Midland City Council at the May 26, 2009 meeting.

Basic Energy Services, with 4,200 employees in eleven states, is consolidating and retaining its corporate headquarters in Midland. Basic, as the managing member of Permian Plaza, LLC, has acquired 300 N. Pecos (the former “Belt Buckle” building), 600 W. Illinois (“Hightower” building), and the 511 W. Ohio building. The redevelopment of these properties as Permian Plaza will offer over 180,000 square feet of office, restaurant and retail development for the Central Business District (CBD).

“This project is on target to the MDC’s strategic plan initiatives in promoting and assisting with the continued revitalization of Midland’s CBD and the retention of jobs for Midland,” said Doug Henson, board chair of the MDC.

The multi-level parking facility will provide parking for tenants of Permian Plaza, Basic Energy Services employees, and 75 spaces will be dedicated to the public and/or third-party non-tenants of Permian Plaza. The entire parking facility will also be available to the public during non-business hours by arrangement.

“As we have moved forward with the development and execution of Permian Plaza, we’ve kept the elements of Midland’s downtown as a priority,” explained Ken Huseman, president and chief executive officer of Basic. “Infrastructure, increased property values, accessibility, and urban lifestyle such as retail and entertainment have all been considered as critical points to this project.”

MDC Board of Director Spotlight

Doug Henson, chairman of the Midland Development Corporation board of directors, is not new to civic and community involvement. Doug’s commitment to Midland is evident not only by his words, but even more so by his actions.

Henson’s prior civic and community contributions have included serving as chairman to several organizations, including Midland Jaycees, Midland Industrial Foundation and  Midland County Library Board.

When asked what initially attracted Henson to the MDC, there was no delay in his response, 

“Midland’s people are the community’s strongest strength and through MDC program of work the attraction of young professionals will ensure Midland’s continued prosperity.”

Henson’s family and his grandchildren are a primary catalyst for his involvement with MDC.

“My love for making Midland the best place to live and raise a family which is summarized in the Jaycee Creed: ‘service to humanity is the best work of life.”

As for what the future holds for Midland.  Again, Henson refers to Midland’s greatest asset, its citizens, both current and prospective.  “I believe Midland’s best years are ahead.  Through long term planning and MDC’s involvement I believe the City’s citizens will identify additional workforce opportunities as we broaden Midland’s business landscape in the areas of aviation, healthcare and professional services.”

To visit with Doug Henson, email him directly.

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Employment Data for City of Midland

  Source:  Texas Workforce Commission - Labor Market and Career Information Department

Look for Some New Developments on LiveMidlandTexas.com

A program of the Midland Development Corporation, LiveMidlandTexas.com is a collaborative effort of MDC and downtown stakeholders to ensure a vibrant, progressive downtown environment for both the professional, daily commuters to downtown in addition to the entertainment and cultural opportunities downtown. 

Watch in the coming weeks as LiveMidlandTexas.com sees some new faces, updated and more-in-depth user profiles and a few other surprises. 

Stay tuned so you can make sure you don’t miss out on the changes.