By Amber Lollar, Staff Writer
As public interest surrounding the Henderson Economic Development Corporation continues to grow, board president Micheal Marshall says the organization is focused on transparency, business growth and long-term investment in the future of Henderson.
Michael Marshall, President of Henderson Economic Development Corporation.
Marshall, who has served as president since October after previously spending two years on the board, said one of the biggest misconceptions surrounding HEDCO involves how the organization is funded.
“We receive a half-cent of the sales tax that the city receives, and that’s our funding,” Marshall explained. “Anybody that purchases anything in Henderson city limits and pays sales tax is helping fund us.”
Marshall noted that many residents often confuse sales tax funding with property taxes, but emphasized that HEDCO does not receive funding from property taxes.
He also pointed to increased public attendance at HEDCO meetings as a positive sign that more citizens are becoming engaged and learning more about the organization’s role in economic development.
Among the initiatives Marshall highlighted were two grant programs aimed at improving local businesses and industrial properties.
The Small Business Matching Grant Program offers a 50/50 matching grant of up to $10,000 for qualified property owners seeking exterior improvements visible from public roads. Area businesses such as Heritage Square’s Bloomtown, Ward Plumbing, Sam’s Tree & Roofing, Henderson Interchurch Ministries, and Cabana Sam’s took advantage of the grant to beautify their storefronts and signage.
“We’ve helped some folks repave parking lots and redo building facades,” Marshall said. “That’s been a huge positive for us and the businesses.”
HEDCO also operates an Industrial Business Matching Grant Program, which provides up to $50,000 in matching funds for qualified industrial properties, particularly within the Henderson Industrial Park. Old School Services and Southland Safety utilized the funds for parking lot resurfacing, signage, landscaping and other upgrades to their facilities.
Marshall said interest in both grant programs has increased significantly over the past 15 to 18 months.
“The businesses are putting in 50% as well, so it’s definitely helping the overall look and feel of Henderson,” he said.
Marshall added that HEDCO remains willing to shift budget allocations if necessary to continue supporting the growing demand for the grants.
Development activity also continues within the Henderson Industrial Park, where Marshall said negotiations are ongoing with multiple prospective businesses.
While some projects remain confidential due to ongoing performance agreements, Marshall said residents could begin seeing noticeable progress within the next six to nine months.
One recent improvement residents may already notice is the addition of new signage and park features within the industrial park, including SmartFlower solar installations that help power roadway lighting throughout the area.
SmartFlower Solar System installation at Henderson Innovation Park.
“I’m amazed at how many people are stopping by there throughout the day and evening,” Marshall said. “We’ve got walking trails done, and people are enjoying the space.”
Perhaps the most significant announcement discussed was HEDCO’s ongoing negotiations with Atwood’s regarding a potential new retail location in Henderson.
Marshall said the proposed development would be located along U.S. Highway 64 near West Fraser, near the intersection of Highway 64 and Loop 323.
According to Marshall, the proposed project could bring an estimated $10 million capital investment and approximately 24 full-time jobs to the area.
“It’s a small bite for sure, but definitely a bite,” he said. “Hopefully that will start to spur some other retail development up there as well.”
Marshall also emphasized the broader economic impact HEDCO projects can have on the city.
He said more than $3.6 million in capital investments have already been generated through HEDCO performance agreements, increasing property values and ultimately contributing additional ad valorem tax revenue to help support city services.
Marshall said one of the organization’s long-term goals is creating enough local employment opportunities to reduce the number of residents commuting outside Henderson for work.
“If they’re here working, then more than likely they’re here eating at our restaurants and shopping locally,” he said. “That helps fund sales tax revenue for both the city and HEDCO.”
Marshall encouraged residents interested in learning more about HEDCO to attend the organization’s public meetings.
“We’re actively engaged in seeing our city grow,” he said. “This is where we choose to invest for our families, and the better we do for it now, the better it’s going to be for our kids and grandkids.”
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