A recent Dallas Business Journal ranking of the top economic development agencies in the region included two from Grayson County in the top 20.
The Sherman Economic Development Corp. was at No. 9 and the Denison Development Alliance was featured at No. 16 on the list of 22 such agencies. SEDCO Executive Vice President Stacey Jones explained the rankings were based on the amounts of deals completed in 2017. SEDCO staff said the ranking was a big jump from the corporation’s position at No. 15 on the list last year.
“It’s always great to be recognized in your industry,” Jones said of the ranking. “It just shows the growth that we’re having in Sherman and it’s proof. We can say all day that we’re growing, but how we rank on that list, our growth is evident.”
DDA President Tony Kaai said the Denison economic development agency has ranked high on the list previously with the opening of Texoma Medical Center and investments into the Ruiz Foods facility but said he has not followed it as extensively in recent years. With regard to DDA’s placement this year, Kaai attributed the recognition to the $50 million expansion of TMC that saw the opening of the hospital’s new tower earlier this year.
“It is a significant accomplishment to be listed in the top 20, being one of the smaller cities surrounding the Metroplex,” he said. “There is and will continue to be significant investment in the years to come.”
Sherman had nine deals for the year with a value of $172,486,126, which includes Finisar’s plan to invest $160 million in capital equipment and construction in its Sherman facility. That total placed SEDCO in front of the Johnson County Economic Development Commission out of Cleburne and just behind Grapevine Economic Development, which completed three deals for a total value of $200 million.
“We’re excited about it,” SEDCO board Chairman Brad Douglass said. “We’re competing against large communities and clearly the offerings we have here, the quality of life and all, really have made us be able to compete with these much larger budgets and much larger communities.”
The Allen Economic Development Corp. topped the list by completing nine deal with a total value of more than $1.22 billion, followed by the Garland Economic Development Partnership, which completed six deal with a total value just $2.35 million behind AEDC.
“It really feels good, in a town of 42,000 and the limited resources we have,” Douglass said of the placement. “I think we compete very well with the Metroplex.”