EDC to base S&W payments on job creation

November 07, 2012, 2:00 pm by Adam Troxtell

After approving last month to give up to $2.5 million to Scott & White for hospital construction costs, the Marble Falls Economic Development Corporation board has agreed to give out the money based on jobs created over the next five years.

Scott & White will receive $5,605 per job created, according to an agreement proposal drawn up by EDC staff. EDC Board Director Steve Reitz said the Finance Committee, which he serves on, felt this was the best way to go about reimbursing Scott & White as incentive for completing the medical facility project and for bringing an expected job and economic boost to the community. The clinic and hospital are expected to bring in a combined 500 jobs when both open up near the intersection of US 281 and TX 71 in 2013 and 2014, respectively.

"Just like any company, we would give out reimbursements based on performance, or the number of created jobs,” Reitz said.

EDC Executive Director Christian Fletcher will now, as instructed by the board, finalize the agreement with Scott & White.

For the full story, see Friday's Highlander.

Reader Comments

Hmm. they were already Expected to bring in jobs but the EDC wants to reward them for something that was already going to happen..So basically the EDC is giving these Hospital folks a BAILOUT.. This is another example of why the EDC needs to be shut down.
November 07, 2012, 4:38pm by Roy