The Midland Development Corporation (MDC) takes stock of a year marked by growth, collaborative efforts, and transformative initiatives. Lourcey Sams, Chairman of the MDC Board of Directors, expresses gratitude, saying, "2023 has been a remarkable year for Midland's economic development. We appreciate the support of our community in embracing all of these wonderful projects and initiatives promoting economic growth and vibrancy.”
MDC has entered into several promotional agreements, including a $1 million contribution towards the construction of the Bush ACE (Advise, Counsel and Encourage) Center. This high-performance training facility, an addition to the Bush Tennis Center, will offer various recreational options for families, aiming to retain local recreation activities and financial support within the community. Construction is underway on the 8,000-square-foot high-performance training facility, with indoor tennis, basketball, pickleball, space for youth camps and more.
Another project involves a $700,000 investment in COM Aquatics to replace its competition pool liner. Recognized as one of the premier aquatic centers nationally, COM Aquatics plays a role in attracting visitors to Midland for numerous swimming and diving championships.
The Midland Entrepreneurial Challenge achieved success in 2023. Collaborating with UT Permian Basin, MDC facilitated an annual business challenge competition, providing entrepreneurs and business owners with classes, one-on-one coaching, and support in various business aspects. With over 50 participants, this record-breaking year showcased Midland's entrepreneurial spirit. Sams acknowledges the success, saying, “The Challenge has grown significantly since its launch in 2017, and the 2022-2023 edition was particularly impactful.” The winners, including Central Bites, Midland Athletic Company, The Tailgate, and Toya’s Precious Jewels, received funding to further their ventures.
March 2023 witnessed the demolition of the Western United Life Building, a longstanding fixture in Downtown Midland. This marked the end of an era and opened up new opportunities for development. The City of Midland, in collaboration with MDC, has approved a master development agreement that includes $45 million from MDC for infrastructure and construction costs. The City of Midland will provide property tax and hotel occupancy tax rebates for ten years.
Initiated in April 2023, Founders Blend Midland has become a focal point for entrepreneurial collaboration. Monthly gatherings have brought nearly 100 entrepreneurs and small business owners together, providing exposure and valuable insights.
The second annual Fly Into Fall event, hosted by the City of Midland Airports Department, offered a free aviation experience for participants of all ages. It promoted appreciation and education of the aviation field, showcasing the Midland Executive Airpark's vital role in the area’s economy.
In 2023, two new figures joined the MDC Board of Directors, Zack Deck and Elvie Brown. Deck was sworn in at the January Board Meeting, while Brown joined in November.
Looking ahead to 2024, Sams provides a glimpse into the future, saying, “As we enter the new year, the Midland Development Corporation remains committed to fostering economic growth, supporting local businesses, and shaping a vibrant future for Midland.”
The Midland Development Corporation continues to be a resource for local and prospective businesses in West Texas, inviting all to experience Midland in 2024.