| Business Retention & Expansion |
With the fiscal year coming to an end, Our Business Retention and Expansion
team has visited more than 470 of it's 500 business goal. One purpose for these
visits is to determine the barriers to growth that keep local companies from
growing in El Paso. We address these issues with each individual company, often
by refering them to partner organizations who can assist them with issues such
as financing, technical support, and workforce training. Although we target our
visits to companies involved in the defense, biomedical, advanced manufacturing
and alternative energy sectors, along with creative class companies, we also
take referrals. If you know of an El Paso company that needs help to grow, call
our Business Expansion and Retention team at (915) 541-4670 so we can schedule a
visit.
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| Business Attraction |
 REDCo elected new leadership at its
board meeting held July 21st. Gary Hedrick (consultant for El Paso Electric)
was selected as Chairman of the Board for the remainder of 2008, with the
possibility of extending his chairmanship through 2009. We make this
announcement with a heavy heart, following the untimely loss of Marcus Hunt.
Gary has been a member of our Executive Committee since the founding of REDCo in
2004, and we are confident in his leadership. In other action, Robert Brown
(Brownco Capital) was elected to serve on REDCo's Executive Committee and six
members were added to the Board of Directors: Chris Hunt (Hunt Development
Group); Tom Cardenas (ECM International); Joe Diaz, (Miratek Corporation); Ceci
Miles-Mulvihill (RM Personnel); Hector Retta (Wells Fargo Bank); and Bob Snow
(JP Morgan Chase Bank).
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| Revitalization |
 El Paso's Downtown
redevelopment was highlighted in Monday's issue in the Wall Street Journal. The
Journal article appeared in a section about economic development success stories
that looked at El Paso and six other areas: Kalamazoo, Mich.; Kobe, Japan;
Wismar, Germany; Omaha, Neb.; Colorado Springs and rural Kentucky. The
article explores the private investment flowing into Downtown and the purchases
of major buildings by the Borderplex REIT, Paul Foster and others that
contributing to the rise in office occupancy rates and property values in
Downtown. We would like to thank REDCo and their PR firm DCI for their
involvement in this
story.
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Small Business
Development |
 The El Paso Hispanic Chamber of Commerce
is preparing for BizTech 2008, Thursday, October 16,
from 9:00am-5:00pm at the Performing Arts Center in downtown El Paso! In
its 10th year, BizTech is a T professionals, community and business leaders,
telecom providers, entrepreneurs, and others looking for the best in technology
solutions from both sides of the US-Mexico Border. BizTech, draws 1,500
attendees and nearly 80 exhibitors and sponsors including Cisco Systems, Dell,
Microsoft, Nextel, and Verizon Wireless, to name a few. For questions about
sponsorship opportunities please contact, Rebeca Rodriguez at (915)
566-4066.
The Greater El Paso Chamber of Commerce
and First Light Federal Credit Union
will host the annual State of the Military Address on September 26, 2008 at the
El Paso Convention Center at 11:30 am. Major General Howard Bromberg will
address the unprecedented expansion of Ft. Bliss, including facility and home
construction, training grounds, and the required "off-post" expansion that will
be required to support the swell in population. For information please contact
Ana Salcido at 915-534-0528.
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| Workforce Development |
 Marisol
Romero has had many difficult struggles to overcome as a single mom. She
has worked while attending school raising two young children. "Working with Project ARRIBA has been so
beneficial, they really believe in me and all of the things I plan to
accomplish." Marisol will graduate this summer as a Licensed Vocational Nurse
from El Paso Community College. While the testing and assessment was a
challenge for Marisol, she managed to successfully get through the process.
Marisol plans to continue with her education, and will work towards becoming a
Registered Nurse.
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An $8 Billion
Opportunity
A new study conducted by UTEP's Institute
for Policy and Economic Develoment shows that of $8 billion spent by the
maquiladoras across the border in Ciudad Juarez, Mexico, only 2% or $160 million
is purchased from local suppliers.
Cd. Juarez manufacturing is comprised mainly of the maquiladora industry,
manufacturers that locate in Mexico under a preferential tariff program. Cd.
Juarez is home to the largest concentration of maquila employment and payroll in
Mexico, and the region has built itself into a major provider of products that
are distributed throughout North America in the automotive, electronics,
medical, comunications equipment and other industries. In 2007, Cd. Juarez
maquilas employed about a quarter of a million workers, representing 20% of the
total maquila jobs in Mexico.
The small percent of parts purchased locally reveals a great
opportunity for regional suppliers. The greatest opportunities for supplying
parts and materials are in stamping, plastics and rubber, machining, assembly
and die casting.
The Economic Development Department is
working to help local companies take advantage of this opportunity. Working
with our partners at REDCo, we compiled a supplier database of 94 El Paso
companies in critical supplier industries such as metal stamping and plastic
injection molding. This database is available online, and we are working on a
print version and on expanding the database. We will market this data to
maquila representatives so they can take advantage of quality local suppliers
without the risk or transportation expense of purchasing products from Asia or
other areas.
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