New officers and the adoption of a five-year strategic plan topped the agenda for Kilgore Economic Development Corporation’s board of directors Thursday.
During the “annual board meeting” held at city hall, Bobby Beane, current vice president, was elected board president for the new fiscal year that begins Oct. 1. Outgoing president Bill Adamson, who has served on the board five years, has one year left in his second two-year term. He has served as president of the board since Oct. 1, 2006.
THE STRATEGIC PLAN is an updated version of last year’s document and Denton said the plan is reviewed and, if need be, revised each year and then submitted to the city council for approval.
Kilgore Economic Development Corporation last week inked an agreement with a local business to keep 100 jobs and add more than $2 million in new investments to its facilities here.
Cudd Pumping Services Inc. signed a KEDC Economic Development Performance Agreement on Aug. 18 that will give Cudd Pumping Services up to $52,000 for the retention of 100 jobs and the addition of $600,000 in real property and $2 million in personal property improvements in Kilgore over the next three years.
Kilgore Economic Development Corporation directors have approved a $3 million budget for the coming year. Amanda Nobles, KEDC manager, said the $3,005,550 budget for 2009-10 is about 12 percent lower than last year.
Following a public hearing that nobody attended, Kilgore Economic Development Corporation’s board unanimously approved funding for several improvements to Pentecost Park.
