YEDC Year End Results
During the fiscal year ending September 30, 2019, the Yoakum Economic Development Corporation continued its support of new and existing businesses, preservation of Yoakum’s downtown buildings, and support of non-profit organizations. Five Retail Enhancement grants finished reimbursing the applicants $36,402, five Preservation grants totaled $37,500, and two Community Service grants at $8, 059. Three General grants (Anytime Fitness, Grand Theater #2, and Yoakum General Store) were reimbursed $160,903. Five incomplete grant awards valued at $44,216.56 will be carried over into the 2019-2020 fiscal year.
In all, 2018-2019 YEDC grant expenditures increased 60% over prior year (2017-2018). The estimated value of all projects was $2,074,375.00 with YEDC participation at 12%. The YEDC year-end cash assets were $2,014,543.65 with $75,350 committed to future awards. Fiscal year sales tax collections increased 7.81% over the prior year’s total. During the fiscal year eight new business opened. Employment related gains of new and expanded businesses totaled 20 full time and 22 part jobs.
photo: The second screen at the Grand Theater opened in 2019.