Gregg Co. private business park seeing big success without offering incentives
Longview, TX — In the world of business park development, River Bend Business Center and Industrial Park stands out. Instead of doling out public funds in the form of job creation grants, tax abatements and capital investment incentives, the private development has added more than $38 million in taxable value to Gregg County entities.
Randy Brogoitti, Kilgore businessman and one of the developers in the project, said interest in the first 175-acre phase of the park is picking up.
“It’s 100 percent privately funded with no tax abatements or other types of incentives,” he said
But Brogoitti said comparing the privately developed River Bend with public business park developments like those of Longview Economic Development Corp. and Kilgore Economic Development Corporation’s Synergy Park is not really valid.
“We’re catering to an entirely different clientele,” he said Friday. “While they’re working with large public national companies, we’re mostly dealing with mid-sized private companies.”
And, while LEDCO and KEDC may be able to offer as much as hundreds of acres to entice major corporations like Neiman Marcus, Holt Cat or Dana Corp., Brogoitti said most of River Bend’s tenants are on tracts of 10 acres or less.
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