2008 Annual Report - PEARLAND

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2008 Annual Report - PEARLAND Powered By Docstoc
					              a n n ua l r e p o rt
                      2008




PEARLAND
e c o n o m i c d e v e l o pm e n t c o r p o r at i o n
                                                                            PEDC Annual Report 2008             1


                                                            L etter from the
                                                         Executive Director

                     When people ask me to describe Pearland, I am proud to recite our catch phrase
                     – “It’s a great place to live and work.” That phrase truly came to life during 2008.


                     We celebrated business expansions, the groundbreaking of our first Class A office
                     development, the launch of a new workforce training alliance and the beginning
                     of redevelopment in Pearland’s Old Townsite District. We introduced ourselves to
                     cities around the world. It was a year of wins and continued forward momentum.

Fred Welch
Executive Director   Even the arrival of Hurricane Ike in September could not bring the Pearland
                     community down. This entire city came together to prepare for the storm’s arrival.
                     And, once it passed, the PEDC joined thousands of residents to restore normalcy to
                     the area – disseminating ice and food, manning telephones and assessing damage.
                     Most importantly, we joined our neighbors in offering support and a friendly smile
                     that said, “We will persevere.”


                     During this challenge, our greatest gift was our ability to financially assist our small
                     business community. To date, we have awarded 44 grants totaling $200,000 to
                     qualified small businesses to help them recoup losses incurred by the storm. It’s the
                     boost they needed to get back on their feet. That’s what we do in Pearland – we
                     lend a hand; we support one another. And that’s what makes this city great.


                     As we look ahead into 2009, that loyalty and commitment to excellence will propel
                     us through another year of amazing achievements and growth.


                     Sincerely,




                     Fred Welch
                     Executive Director
2   PEDC Annual Report 2008




                                               L etter from the Chairman

                              Pearland is one of America’s “stand-out” cities.        While our country is going
                              through a financial crisis, our city still remains ahead of the game. We continue to
                              add jobs and build homes. Interest in our community remains high, with people
                              and businesses continuing to move here each month.


                              So, how does Pearland do it? Our prime location minutes from the world-
                              renowned Texas Medical Center and downtown Houston is a key attraction. But,
                              building a quality community with controlled development takes vision and a
         George Sandars
         Chairman             strong group of leaders.


                              Our local leaders worked hard the past five years to create a “sense of place” for
                              Pearland residents and business owners…a place where people can get all their
                              needs met. The work paid off. New businesses moved to our city, creating a
                              wealth of dynamic job opportunities. Quality retail establishments popped up all
                              over Pearland, offering a broad array of shopping and dining experiences.


                              But, it’s also the spirit of the people. Never was this more evident than how the city
                              came together in a very short time following Hurricane Ike. Within two weeks,
                              we had most of our utilities back. Our streets were passable and businesses were
                              back up and running. The people rolled up their sleeves and got the work done.


                              Vision, hard work and pride – that’s what it boils down to for Pearland’s success.
                              I salute the leaders, residents and businesses of this fine city for a job well done.


                              Sincerely,




                              George Sandars
                              Chairman
                                                                                                                                                                                                                                         PEDC Annual Report 2008                 3



                                                                                                                                                                                    Vision Breeds Success

                                                                                                                                                             In                     2003,                         the       Pearland               Economic        Development
                                                                                                                                                             Corporation (PEDC) had a vision to create a destination
                                                                                                                                                             city. It developed a five-year strategic plan that served as a
                                                                                                                                                             roadmap for making this vision a reality. The results were
                                                                                                                                                             phenomenal – massive population growth, the addition of
                                                                                                                                                             millions of square feet of retail space and the launch of a
                                                                                                                                                             successful business retention program.


                                                                                                                                                             In fall 2008, the PEDC leadership began developing a
                                                                                                                                                             new plan that will outline the strategies needed to support
                                                                                                                                                             Pearland’s growth and development through 2013.


                                                                                                                                                             The five-month process began with a market assessment
                                                                                                                                                             that unveiled some solid findings. Pearland’s economic
                                                                                                                                                             development is moving in the right direction and laid a
                                                                                                                                                             foundation for significant capital investment and high-wage
                                                                                                                                                             job growth. Plus, the PEDC continues to establish regional
                                                                                                                                                             partnerships and develop compelling incentive packages.


                                                                                                                                                             But, one of the most significant findings was in the make-up
                                                                                                                                                             of the Pearland population. “Our demographics changed
                                                                                                                                                             significantly in the past six years to a younger, more
                                                                                                                                           Residential Permits
                                                                                                                                                             educated population,” said Fred Welch, executive director
50.60%                                 49.40%                                  3,000
                                                                               2,500                                                                                        “The
                                                                                                                                                             of the PEDC.2,072 average resident is 33 years old, and 64
                                                                                                                                                                      2,610
                                                                                                                   Residential Permits 2,102
                                                                               2,000                                                                          1,684
                                                                       3,000 1,500
                                                                                                           $1,352
                                                                                                                             1,243
                                                                                                                                                 1,430       percent of our residents are people under 40 years of age
                                                                                                                                                                             1,589
                                                                                                                                                                                 1,204
                                                                                                                                                                                       Number of Permits Issued
    50.60%                             49.40%                                                                                                                2,610
                                                                                                                     818
                                                                       2,500 1,000
          Top: Pearland Town Center Bottom: WaterLights District 3D Rendering
                                                                    2,000 500
                                                                                                    536
                                                                                                                         $1871,684
                                                                                                                                             2,102
                                                                                                                                                             with a college degree or better.”
                                                                                                                                                                 2,072
                                                                                                                                                      $257$312 $385
                                                                                                                                                                    $480 $393 $309
                                                                                                                                                                1,589              $253       Permit Valuation (in millions)
                                                                                                                                                                            Number of Permits Issued
                                                                          $1,352                                         1,430 $28
                                                                       1,500         1,243                                                                                                        1,204
                                                                                0
                                                                       1,000 536 818
                                                                                                           1999

                                                                                                                          2000

                                                                                                                                          2001

                                                                                                                                                      2002

                                                                                                                                                                      2003

                                                                                                                                                                                    2004

                                                                                                                                                                                                  2005

                                                                                                                                                                                                           2006

                                                                                                                                                                                                                    2007

                                                                                                                                                                                                                           2008




                                                                                                                                          $480 $393 $309
                                                                        500       $187                                      $257$312 $385                $253                                                     Permit Valuation (in millions)
                                                                                        $28

          Estimated P opulation by Age                                                                                                                       Community Information
                                                                          0
                                                                                      1999

                                                                                                    2000

                                                                                                                  2001

                                                                                                                            2002

                                                                                                                                          2003

                                                                                                                                                     2004

                                                                                                                                                                   2005

                                                                                                                                                                             2006

                                                                                                                                                                                           2007

                                                                                                                                                                                                    2008




            0.80%
               0.80%
           2.80%                                         Under 4 Years                                                                                       Average Household Income                                             $91,185
                 2.80%   8.60%                           5-14 Years                                                                                          Median Household Income                                              $83,036
      5.30%
                            8.60%                        15-19 Years                                                                                Per Capita Income                                                             $31,768
            5.30%                                                                                                                                Commercial Permits
  9.60%                             14.40%               20-24 Years                                                     Commercial Permits
         9.60%                      14.40%                                 300
                                                         25-34 Years
                                                                   300                                                                                       ESTIMATED POPULATION
                                                                                                                                                                          $264
                                                                                                                                                                  $264
                                                                           250                                                                               DEMOGRAPHICS
                                                         35-44 Years
                                                                   250
                                                                                                                                                             Total Population                   91,323
14.20%
     14.20%                           6.60%
                                      6.60%              45-54 Years
                                                                   200 200
                                                                                                                                                             Population Density
                                                         55-64 Years
                                                                   150 150                                                                                     $173           Number of PermitsNumber of Permits Issued
                                                                                                                                                             (Pop/Sq Mi) 9 $173
                                                                                                                                                                                                Issued
                                                                                                                                                                                                1,661.10
                                                                                                                                                                      $99            $999
                                      5.20%
                                     5.20%               65-74 Years
                                                                   100 100                                                                                                   77
                                                                                                                                                             Total Households 77 Valuation (in31,771
                                                                                                                                                              66
                                                                                          $33     43 51 $42                      $42                                     66 Permit             millions)
                                                                               $27 $31                      43 51                                                                                                                 Permit Valuation (in millions)
                                                         75-84 Years50         50   $27 $31 49 $33
                                                                                      $16                        52
           16.20%               16.10%                                                        $16 $39 $41                                                                                                          52
     16.20%                                                            0       22 17 16 25             49
                              16.10%                     85+ Years              0                 25        $39 $41
                                                                               1999

                                                                                             2000

                                                                                                           2001

                                                                                                                     2002

                                                                                                                                   2003
                                                                                                                                              2004

                                                                                                                                                      2005

                                                                                                                                                                   2006

                                                                                                                                                                             2007

                                                                                                                                                                                       2008




                                                                                    22 17 16
                                                         Median Age 34.9
                                                                                                    1999

                                                                                                                   2000

                                                                                                                                 2001

                                                                                                                                            2002

                                                                                                                                                            2003
                                                                                                                                                                          2004

                                                                                                                                                                                     2005

                                                                                                                                                                                                  2006

                                                                                                                                                                                                           2007

                                                                                                                                                                                                                    2008
  4       PEDC Annual Report 2008




          V ision Breeds Success                                                     cont’d

          Welch added that the local labor force consists of workers in                                                                  In 2008, the lease was compiled and will be reviewed by
          white-collar jobs. As a result, he said the PEDC’s next five-                                                                  Pearland City Council in January 2009. The first building
          year plan will outline strategies to develop higher-skilled,                                                                   will be completed in 2010.
          higher-paying jobs to support these educated workers and
          keep them working in Pearland versus commuting.                                                                                The arrival of this first building means the PEDC will
                                                                                                                                         have a new home. PEDC will move into a modernized,
          “I t’s all about creating an environment
                                                                                                                                         3,000-square-foot office inside UHCL-Pearland Center.
          that attracts and retains the best and                                                                                         Located at Pearland Parkway and McHard Road, it is
          brightest talent to Pearland,” Welch said.                                                                                     one of the signature entryways into Pearland. This new
          The plan will focus on business recruitment strategies across                                                                  space will feature a large conference room equipped with
          five targeted sectors – business and professional services,                                                                    interactive technology that allows the PEDC to pull up
          health care, oil and gas, renewable energy, and biotechnology/                                                                 real-time parcel and property information for prospective
                                                                                                                           Residential Permits
          nanotechnology. It will also address infrastructure needs,                                                                     companies looking to relocate to the city.
50.60%                             49.40%                          3,000
          and changes to the business assistance practices and policies
                                                           2,500                     2,102
                                                                    Residential Permits
                                                                                                                                                                               2,610
                                                                                                                                                                                             2,072
                                                                   2,000                                                                            1,684
                                                               businesses.
          that must be made in order to better attract such1,500 $1,352 1,243
                                49.40%
                                                                                                                                1,430
                                                                                                                                                                                                  1,589
                                                                                                                                                                                                      1,204
                                                                                                                                                                                                                                     Number of Permits Issued
   50.60%                                                3,000                                                                                             2,610
                                                                                                    818
                                                           reviewed in
          A draft of the PEDC plan will be finalized and 1,000 536 $187
                                                       2,500
                                                       2,000 500
                                                                                                               2,102
                                                                                                           1,684
                                                                                                                          2,072
                                                                                                                              $480 $393 $309
                                                                                                                $257$312 $385 1,589          $253     Permit Valuation (in millions)
                                                                                                                                          Number of Permits Issued
                                                                          $1,352                     1,430
                                                                                                        $28
                                                              1,500                            1,243                              1,204
          first quarter 2009 followed by an implementation 0plan and
                                                     1,000 536 818
                                                                                            1999

                                                                                                          2000

                                                                                                                        2001

                                                                                                                                        2002

                                                                                                                                                       2003

                                                                                                                                                                     2004

                                                                                                                                                                                  2005

                                                                                                                                                                                              2006

                                                                                                                                                                                                             2007

                                                                                                                                                                                                                        2008


                                                                                                                                  $480 $393 $309
                                                               500                     $187                         $257$312 $385                $253                                                               Permit Valuation (in millions)

          immediate rollout.                                       0
                                                                                                      $28
                                                                              1999

                                                                                            2000

                                                                                                      2001

                                                                                                                    2002

                                                                                                                                 2003

                                                                                                                                                2004

                                                                                                                                                              2005

                                                                                                                                                                        2006

                                                                                                                                                                                      2007

                                                                                                                                                                                               2008




             0.80%
           2.80%
               0.80%
          Plans Continue for
      5.30% 2.80%
                         8.60%
                          8.60%
          UHCL-Pearland Campus
                                                                                                                               Commercial Permits
  9.60% 5.30%                     14.40%
                                                               300                                           Commercial Permits
      9.60%                       14.40%                                                                                                                                                      $264
                                                             300250                                                                                                     $264

14.20%
   14.20% The Pearland campus of the University of Houston-Clear
                                   6.60%
                                     6.60%
                                                             250
                                                               200
                                                             200
                                                               150                                                                                                                    $173
                                                                                                                                                                                                      Number of Permits Issued
                                                                                                                                                                                                        $99
                                                                                                                                                                                                          9
                                                                                                                                                                                                                               Number of Permits Issued

                                                     a reality.
          Lake (UHCL) is one year away from becoming 100
                                                             150                                                                                               $173
                             5.20%                                                                                                                                                    $99 77
                                                                                                                                                                                        9
                              5.20%                          100                                 77 66
                                                                                    $33 $42 43 51
                                                                                              66
                                                                       $27 $31$33 $42 43 UHCL-Pearland                                                                                                                         Permit Valuation (in millions)
                                                              50 50$27 $31     $16
                                                                                          51                                                                                                 Campus Rendering millions)
                                                                                                                                                                                                Permit Valuation (in
                                                                           $16           49                                                                                                              52
      16.20%
          16.20%           16.10%
                            16.10%                                                49
                                                                                      $39 $41$39 $41 52
                                                               0 0     22 17 25
                                                                       22      16 25 17        16
                                                                                     1999

                                                                                                   2000

                                                                                                                 2001

                                                                                                                               2002

                                                                                                                                              2003
                                                                                                                                                           2004

                                                                                                                                                                        2005

                                                                                                                                                                                      2006

                                                                                                                                                                                               2007

                                                                                                                                                                                                             2008
                                                                       1999

                                                                                     2000

                                                                                                   2001

                                                                                                             2002

                                                                                                                        2003

                                                                                                                                      2004

                                                                                                                                                    2005

                                                                                                                                                           2006

                                                                                                                                                                        2007

                                                                                                                                                                                      2008




          Estimated Households by I ncome                                                                                                     Taxation

              4.40%                              $150,000+                                                                                   TAX RATE (Per $100 Assessed Value)                                                                      SALES TAX
           4.40%
           5.30%            15.30%               $100,000 - $149,999                                                                         City of Pearland                                                                  $0.652600             City of Pearland   1.5%
      5.30%               15.30%
                                                 $75,000 - $99,999                                               3,000
                                                                                                                                             Brazoria County (including R&B)                                                   $0.381701             Brazoria County    0.5%
      6.00%                                                                                                                      3,000           2,610
  6.00%                                          $50,000 - $74,999                                               2,500 2,102
                                                                                                                          Brazoria                                      Drainage District #4
                                                                                                                                                                           2,610
                                                                                                                                                                         2,072                                                 $0.143845             State of Texas     6.25%
   10.50%                                        $35,000 - $49,999                                               2,000 2,500
                                     24.20%                                                                                                  State2,102
                                                                                                                                                   of Texas                                     2,072
                                                                                                                                                                                             1,589                             None                  Total              8.25%
10.50%                                           $25,000 - $34,999                                               1,500 2,000
                                   24.20%                                                                                                    Corporate                                                           1,589None
                                                                                                                                                                                                             1,204

                                                 $15,000 - $24,999                                               1,000 1,500
                                                                                                                                             Personal                                                                          None
                                                                                                                                                                                                                                1,204
                                                                                                                         $385                    $480                       $393             $309
                                                 Less than $15,000                                                  500 1,000                                                                                $253

         18.50%                                                                                                         0                    Pearland ISD
                                                                                                                                                  $385 $480                                     $393                 $309
                                                                                                                                                                                                                               $1.662200
                           15.90%                                                                                                       500                                                                                      $253
                                                                                                                                             2004


                                                                                                                                                              2005


                                                                                                                                                                               2006


                                                                                                                                                                                              2007


                                                                                                                                                                                                              2008




                                                                                                                                             Alvin ISD                                                                         $1.545900
   18.50%                                                                                                                                     0
                          15.90%                                                                                                             Alvin Community College                                                           $0.219521
                                                                                                                                                                 2004


                                                                                                                                                                                  2005


                                                                                                                                                                                                      2006


                                                                                                                                                                                                                       2007


                                                                                                                                                                                                                                   2008




              1740, 6%
                                                                                                                                                                                                                                                                                                            PEDC Annual Report 2008                                                                                           5



                                                                  First- C lass Development on the Rise


                                                                                                                                                                                                                                                                                                                    Residential Permits


                                                       50.60%                                                                               49.40%                                                                                                     3,000                                                                                                          2,610
                                                                                                                                                                                                                                                       2,500                                                                                  2,102                            2,072
                                                                                                                                                                                                                                                       2,000                                                                              1,684                                     1,589                               Number of Permit
                                                                                                                                                                                                                                                                                $1,352                                      1,430
                                                                                                                                                                                                                                                       1,500                                           1,243                                                                            1,204
                                                                                                                                                                                                                                                       1,000 536 818
                                                                                                                                                                                                                                                                                                                                                 $480 $393 $309
                                                                                                                                                                                                                                                        500       $187                                                             $257$312 $385                $253                                                    Permit Valuation (
                                                                                                                                                                                                                                                                       $28
                                                                                                                                                                                                                                                          0




                                                                                                                                                                                                                                                                                   1999

                                                                                                                                                                                                                                                                                                    2000

                                                                                                                                                                                                                                                                                                                  2001

                                                                                                                                                                                                                                                                                                                                   2002

                                                                                                                                                                                                                                                                                                                                               2003

                                                                                                                                                                                                                                                                                                                                                             2004

                                                                                                                                                                                                                                                                                                                                                                       2005

                                                                                                                                                                                                                                                                                                                                                                               2006

                                                                                                                                                                                                                                                                                                                                                                                             2007

                                                                                                                                                                                                                                                                                                                                                                                                       2008
                                                                         0.80%
                                                                       2.80%
                                                                                                    8.60%
                                                                  5.30%
                                                                                                                                                                                                                                                                                                                           Commercial Permits
                                                           9.60%                                                                 14.40%
                                                                                                                                                                Residential Permits                                                                  300                                                                                                                       $264
                                                                                                                                                                                                                                                     250
50.60%                                          49.40%                                                 3,000                                                                                                      2,610                              200
                                                    14.20%                                             2,500                               6.60%                                             2,102                             2,072
                                                                                                       2,000                                                                             1,684                                        150
                                                                                                                                                                                                                                    1,589                                                                                                                               $173                                  Number of Permits Issu
                                                                                                                                                                                                                                                                                          Number of Permits Issued
                                                                                                                             $1,352                                       1,430                                                                                                                                                                                                              $99
                                                                                                                                                                                                                                                                                                                                                                                               9
                                                                                                       1,500                            5.20%
                                                                                                                                           1,243                                                                                        1,204
                                                                                                                                                                                                                                                     100                                                                                                                       77


        One of the PEDC’s strongest pursuits during 2008 was
                                                                                                                                                                                                                                                                                                                                                                       66
                                                                                                       1,000 536 818                                                                                                       $33 $42 43 51                                                                                                                                                                      Permit Valuation (in mil
                                                                                                                                                                                             $480 $393 $309    $27 $31 Valuation (in millions)
                                                                                                        500       $187                                                         $257$312 $385             50 $253   Permit
                                                                                                                                                                                                                       $16
                                                                 16.20%                                   0
                                                                                                           16.10% $28                                                                    first phase of a multi-phased development. The 80,000
                                                                                                                                                                                                          0    22 17 16 25
                                                                                                                                                                                                                               49     52
                                                                                                                                                                                                                                     $39 $41
                                                                                                                             1999

                                                                                                                                           2000

                                                                                                                                                               2001

                                                                                                                                                                               2002

                                                                                                                                                                                           2003

                                                                                                                                                                                                       2004

                                                                                                                                                                                                                   2005

                                                                                                                                                                                                                               2006

                                                                                                                                                                                                                                                2007

                                                                                                                                                                                                                                                                 2008
                                                                                                                                                                                                                                                                            1999

                                                                                                                                                                                                                                                                                          2000

                                                                                                                                                                                                                                                                                                           2001

                                                                                                                                                                                                                                                                                                                           2002

                                                                                                                                                                                                                                                                                                                                       2003
                                                                                                                                                                                                                                                                                                                                                 2004

                                                                                                                                                                                                                                                                                                                                                               2005

                                                                                                                                                                                                                                                                                                                                                                        2006

                                                                                                                                                                                                                                                                                                                                                                               2007

                                                                                                                                                                                                                                                                                                                                                                                             2008
        finalizing plans to bring quality office development projects                                                                                                                    square-foot, four-story office building, set for completion
        to    fulfill the
                0.80%          “total destination city” concept. Currently,                                                                                                              in mid-2009, is the first of two and will feature many
        50,000 square feet of office
            2.80%                                                  available for lease at
                                                         space is 4.40%                                                                                                                  “green” amenities.
                     8.60%                                                                                 15.30%
         5.30%
        Pearland Town Center.                                    5.30%
                                                                                                                                                                      Commercial Permits                                                                                                                                     3,000
   9.60%                                    14.40%         6.00%                                                                                                                                                                                                                                                                                                      2,610
                                                                                                  300                                                                                    Moody Rambin, which is handling pre-leasing for the
                                                                                                                                                                                                 $264
                                                                                                                                                                                                                  2,500 2,102
                                                                                                                                                                                                                                 2,072

        Additionally, in October 2008, Pearland celebrated the
                                  10.50%           250
                                                            24.20% project, has strong prospective tenant leads from several
                                                                                                  2,000
                                                                                                                     1,589
14.20%                                          6.60%                                             200                                                                                                                                                                                                                        1,500                                                                               1,204
        ground breaking of its first Class A office development – ZT
                                                         150                                                                                                                                       and
                                                                                                                                                                                         regional $173 statewide companies looking to relocate
                                                                                                                                                                                                             Number of Permits Issued
                                                                                                                                                                                                                             1,000
                                                                                                                                                                                                                                                $99
                                                                                                                                                                                                                                                  9
                                              5.20%                                                                                                                                                                                                                                                                                                                   $480
        Shadow Creek Business Center. Located on Shadow Creek
                                                                                                                                                                                                                                                                                                                                                  $385
                                                                                                                                                                                         and/or expand to Pearland. (in500
                                                   100                                                                                                                                              77                                                                                                                                                                          $393                $309         $253
                                                                                                                                                                                                 66
                                                                                                                    $27 $31                                           $33 $42 43 51                         Permit Valuation millions)
                                                              18.50%                                  50                                            $16                                                                                                                                                                                0
                                                      is in
        Parkway off of State Highway 288, the Center015.90%the                                                                                                                      49                                                       52
                                                                                                                                                                                                                                                                                                                                                        2004


                                                                                                                                                                                                                                                                                                                                                                       2005


                                                                                                                                                                                                                                                                                                                                                                                      2006


                                                                                                                                                                                                                                                                                                                                                                                                     2007


                                                                                                                                                                                                                                                                                                                                                                                                                  2008
        16.20%          16.10%                                                                                                                                    25                        $39 $41
                                                        22 17 16
                                                                                                                    1999

                                                                                                                                    2000

                                                                                                                                                    2001

                                                                                                                                                                      2002

                                                                                                                                                                                    2003
                                                                                                                                                                                             2004

                                                                                                                                                                                                           2005

                                                                                                                                                                                                                   2006

                                                                                                                                                                                                                               2007

                                                                                                                                                                                                                                                2008




        2008 P ermit Activity                                        1740, 6%                                                                                                            Permits 2004-2008
               4.40%
     SINGLE-FAMILY HOME              COMMERCIAL                                                          RESIDENTIAL PERMITS                                                 COMMERCIAL PERMITS
     5.30%            15.30%
     Month     Homes Valuation       Month        Permits      Valuation
  6.00%                (in millions)                           (in millions)                      3,000
                                                                                                                    2,610
                                                                                                                                                                        300
                                                                                                                                                                                                       $264
     January   114     $23.5         January      7            $5.3                               2,500 2,102                                                           250
                                                                                                                               2,072
     February  95      $19.1         February     3            $10.1                              2,000                                                                 200
10.50%
     March     110     $22.7 24.20%  March        5            $12.8                                                                     1,589                                                $173
     April     137     $27.2         April        6            $5.2                               1,500                                             1,204               150
     May       165     $33.1         May          5            $13.2                              1,000                                                                 100                               77
                                                                                                                                                                                                                                                                                                                                                                                                           $99
                                                                                                                                                                                                    66
     June      94      $19.2         June         5            $19.2                                 500 $385 $480 $393 $309 $253                                        50
                                                                                                                                                                               43        51
     July      139     $28.6         July         5            $3.9
                                                          28,624, 94%                                                                                                          $39       $41
                                                                                                                                                                                                                                                                                                                                                                                                                52
    18.50%
     August    103     $20.0         August       1            $.95
                                                                  Residential Permits
                                                                                                       0                            Residential Permits                    0
                      15.90%
                                                                                                                                                                                                    2004


                                                                                                                                                                                                                   2005


                                                                                                                                                                                                                                         2006


                                                                                                                                                                                                                                                                2007


                                                                                                                                                                                                                                                                                        2008




                                                                                                                                                                                                                                                                                                                                                      2004


                                                                                                                                                                                                                                                                                                                                                                      2005


                                                                                                                                                                                                                                                                                                                                                                                 2006


                                                                                                                                                                                                                                                                                                                                                                                                    2007


                                                                                                                                                                                                                                                                                                                                                                                                                 2008




                                                                  Residential Permits                                               Residential Permits
     September 51      $12.0         September 3               $1.6
      50.60%                  49.40%       50.60% 3,000                         49.40%                          3,000
     October
      50.60%   85      $18.5 49.40%        50.60% 32,500
                                     October       3,000       $2.2                 2,610
                                                                                49.40%
                                                                              2,102 2,610 2,072
                                                                                                                3,000
                                                                                                                2,500
                                                                                                                                                      2,610
                                                                                                                                                2,102 2,610 2,072
                                                   2,500                                                        2,500
     November 90       $17.8         November 32,000 $1,352 $4.0 1,684
                                                   2,000            1,430
                                                                              2,102
                                                                          1,684
                                                                                          2,072
                                                                                               1,589
                                                                                               1,589
                                                                                                         Number 2,000
                                                                                                                of Permits Issued
                                                                                                         Number 1,500 $1,352 1,243 1,430
                                                                                                                2,000
                                                                                                                of Permits Issued
                                                                                                                                                2,102
                                                                                                                                            1,684
                                                                                                                                            1,684
                                                                                                                                                            2,072
                                                                                                                                                                 1,589
                                                                                                                                                                 1,589
                                                                                                                                                                             Number of Permits Issued
                                                                                                                                                                             Number of Permits Issued
                                                                                                   1,204                                                             1,204
                                     December 61,500 $1,352 1,243 4.50%
                                                   1,500      1,243 1,430
     December 57       $11.9                                   $21.1                                                    $1,352        1,430
                                                                                                   1,204        1,500           1,243                                1,204
                                                   1,000  818                                                   1,000       818
                                                                        1,000 536
                                                                       13.90% 818 $28
                                                                                  $187
                                                                                                                         $480 $393
                                                                                                           $257$312 $385 $480 $393 $309 $253                                                        1,000 536 818
                                                                                                                                                                                            Permit Valuation (in millions)
                                                                                                                                                                                                                  $187
                                                                                                                                                                                                                                                                     $480 $393
                                                                                                                                                                                                                                                       $257$312 $385 $480 $393 $309 $253                                                      Permit Valuation (in millions)
                                                                         500 536                                                                                                                     500 536
                                                                                  $187                     $257$312 $385           $309 $253                                                Permit Valuation (in millions)
                                                                                                                                                                                                                  $187 $28                             $257$312 $385           $309 $253                                                      Permit Valuation (in millions)
             1740, 6%                                                     500
                                                                            0
                                                                            0
                                                                                                  $28               5.40%                                                                            500
                                                                                                                                                                                                       0
                                                                                                                                                                                                       0
                                                                                                                                                                                                                        $28
                                                                                  1999

                                                                                           2000

                                                                                                    2001

                                                                                                             2002

                                                                                                                      2003

                                                                                                                                 2004

                                                                                                                                             2005

                                                                                                                                                        2006

                                                                                                                                                                        2007

                                                                                                                                                                                  2008




                                                                                                                                                                                                                        1999

                                                                                                                                                                                                                                  2000

                                                                                                                                                                                                                                              2001

                                                                                                                                                                                                                                                         2002

                                                                                                                                                                                                                                                                     2003

                                                                                                                                                                                                                                                                                 2004

                                                                                                                                                                                                                                                                                             2005

                                                                                                                                                                                                                                                                                                         2006

                                                                                                                                                                                                                                                                                                                    2007

                                                                                                                                                                                                                                                                                                                                2008
                                                                                1999

                                                                                         2000

                                                                                                  2001

                                                                                                           2002

                                                                                                                    2003

                                                                                                                               2004

                                                                                                                                           2005

                                                                                                                                                      2006

                                                                                                                                                                      2007

                                                                                                                                                                                2008




                                                                                                                                                                                                                      1999

                                                                                                                                                                                                                                2000

                                                                                                                                                                                                                                            2001

                                                                                                                                                                                                                                                       2002

                                                                                                                                                                                                                                                                   2003

                                                                                                                                                                                                                                                                               2004

                                                                                                                                                                                                                                                                                           2005

                                                                                                                                                                                                                                                                                                       2006

                                                                                                                                                                                                                                                                                                                  2007

                                                                                                                                                                                                                                                                                                                              2008
   6        PEDC Annual Report 2008

                                                                                                                           Residential Permits


50.60%                                 49.40%                       3,000                                                                                                          2,610
                                                                    2,500                                                                             2,102                                           2,072
                                                                    2,000                                                                         1,684                                                    1,589                                      Number of Permits Issued
                                                                                        $1,352                                     1,430
                                                                    1,500                                     1,243                                                                                            1,204
                                                                    1,000 536 818
                                                                                                        $480 $393 $309
                                                                                          $257$312 $385                                                                                                                                               Permit Valuation (in millions)

            S upporting a Strong W orkforce                          500       $187                                    $253
                                                                                    $28
                                                                       0        Residential Permits




                                                                                         1999

                                                                                                           2000

                                                                                                                          2001

                                                                                                                                        2002

                                                                                                                                                          2003

                                                                                                                                                                         2004

                                                                                                                                                                                         2005

                                                                                                                                                                                                       2006

                                                                                                                                                                                                                        2007

                                                                                                                                                                                                                                     2008
    50.60%                              49.40%                  3,000                                                                                        2,610
                                                                2,500                                                                2,102                                  2,072
             0.80%
            A
                                                                2,000                                                            1,684                                           1,589                                          Number of Permits Issued
                                                                           $1,352                                  1,430
                                                                1,500                           1,243                                                                                1,204
         2.80%quality workforce is consistently one of 1,000 top three
                                                        the536 818                                                                                 Houston, San Jacinto and Alvin – committed resources to
                                                                                                                                       $480 $393 $309
                                                                $187                                                     $257$312 $385                $253                                                                      Permit Valuation (in millions)
                     8.60%                              500
          factors that influence business relocation and0 expansion
      5.30%
                                                                     $28
                                                                                                                                                   support workforce development initiatives.




                                                                               1999

                                                                                             2000

                                                                                                           2001

                                                                                                                         2002

                                                                                                                                    2003

                                                                                                                                                   2004

                                                                                                                                                                  2005

                                                                                                                                                                                2006

                                                                                                                                                                                              2007

                                                                                                                                                                                                           2008
                                                                                                                                 Commercial Permits
  9.60%     decisions. Recognizing this fact, the PEDC took steps in
                            14.40%
                                                                 300                                                                                                                                  $264
                   0.80%
            2008 to ensure Pearland’s workforce remained one of the
                 2.80%
            most competitive in 6.60%
                                                       250
                                                                                                                                                   L aunch of NBCEA
                       8.60% the nation.
14.20%                                                           200
            5.30%
                                                                 150                                                                               In April 2008, the PEDC funded the creation of the Northern
                                                                                                                                                             $173       Number of Permits Issued
                                                                                                                  Commercial Permits                                                                                    $99
                                                                                                                                                                                                                          9
         9.60%                     5.20%
                                    14.40%
                                                              300
                                                                 100
                                                                                                                                                66 Brazoria County Education Alliance (NBCEA). A nonprofit
                                                                                                                                                              77


            Rallying the Troops                                                   $27 $31                                        $33 $42 43 51
                                                                                                                                             $264                                                                                           Permit Valuation (in millions)
                                                              250 50                                               $16
     16.20%                   16.10%                                                                                                        49     organization, NBCEA primarily consists of private industry
                                                                                                                                                     $39 $41
                                                                                                                                                                  52
                                                              200 0              22             17                16            25
    14.20%                              6.60%
            PEDC teamed with State Rep. Mike O’Day, a key principal                                                                                              Number of Permits to identify local workforce needs
                                                                                                                                                   representatives working Issued
                                                                                  1999

                                                                                                    2000

                                                                                                                  2001

                                                                                                                                 2002

                                                                                                                                            2003
                                                                                                                                                             2004

                                                                                                                                                                           2005

                                                                                                                                                                                         2006

                                                                                                                                                                                                          2007

                                                                                                                                                                                                                        2008
                                                    150                                                                                               $173
                                                                                                                                                                                              $99
                                                                                                                                                                                                9
                                       5.20%
            in organizing workforce development efforts during the
                                                              100
                                                         $27 $31 $33                                                        $42 43 51              and help train the employees of tomorrow. To date, the
                                                                                                                                                      66
                                                                                                                                                         77
                                                                                                                                                                Permit Valuation (in millions)
                                                               50                                   $16                                                                                   52
                                                                                                                                                   PEDC has invested $170,000 into the program. In 2009,
                                                                                                                            49
           last two
           16.20%                 to solicit cooperation among22 regional
                           years,16.10%                     0     17 16 25
                                                                                                                                        $39 $41
           4.40%
                                                                        1999

                                                                                      2000

                                                                                                    2001

                                                                                                                  2002

                                                                                                                            2003
                                                                                                                                        2004

                                                                                                                                                      2005

                                                                                                                                                                  2006

                                                                                                                                                                                2007

                                                                                                                                                                                              2008
         agencies. To date, three local community colleges –
     5.30%          15.30%                                                                                                                         the program will include current adult industrial workers,
  6.00%
                                                                                                                                   3,000
                                                                                                                                                   unemployed workers and those seeking a career change.
                                                                                                                                                         2,610
                 4.40%                                                                                                             2,500 2,102
                                                                                                                                                                                                           2,072
10.50%     5.30%               15.30%                                                                                              2,000
                                       24.20%                                                                                                                                                                                   1,589
                                                                                                                    3,000 1,500
         6.00%                                                                                                                                               2,610                                                                            1,204
                                                                                                                    2,500 2,102
                                                                                                                         1,000                                                    2,072
    10.50%                                                                                                          2,000                                     $385                     $480 1,589
                                                                                                                                                                                              $393
                                        24.20%                                                                                          500                                                                                     $309          $253
                                                                                                                    1,500                                                                                               1,204
   18.50%                                                                                                                                      0
                             15.90%                                                                                 1,000
                                                                                                                                                                    2004


                                                                                                                                                                                         2005


                                                                                                                                                                                                                 2006


                                                                                                                                                                                                                                    2007


                                                                                                                                                                                                                                                2008


                                                                                                                                         $385                 $480               $393                $309
                                                                                                                         500                                                                                            $253

          18.50%                                                                                                            0
                               15.90%
                                                                                                                                               2004


                                                                                                                                                                  2005


                                                                                                                                                                                       2006


                                                                                                                                                                                                          2007


                                                                                                                                                                                                                          2008




          1740, 6%

                 1740, 6%
                                                                                                                                        300
                                                                                                                                                                                                                  $264
                                                                                                                         300
                                                                                                                                        250
                                                                                                                                                                                        $264
                                                                                                                         250            200
                                                                                                                                                                                              $173
                                                                                                                         200            150
                                                                                                                                                                    $173
                                                                                                                         150            100                                                                                             $99
                                                                                                                                                                                                                               77
                                                                                                                                                                                                       66
                                                                                                                         100                                 43                   51                 77
                                                                                                                                                                                                              $99
                                                                                                                                         50                                     66
                                                                                                                                        43                   51                                                                               52
                    28,624, 94%                                                                                           50                                 $39                  $41
                                                                                                                                          0                                                                             52
                         28,624, 94%                                                                                                    $39                  $41
                                                                                                                                                                  2004


                                                                                                                                                                                       2005


                                                                                                                                                                                                             2006


                                                                                                                                                                                                                                 2007


                                                                                                                                                                                                                                               2008




                                                                                                                            0
           Educational Attainment                                                                                                                     E stimated E mployment and Business Statistics
                                                                                                                                           2004


                                                                                                                                                                 2005


                                                                                                                                                                                  2006


                                                                                                                                                                                                      2007


                                                                                                                                                                                                                         2008




                            4.50%
                               4.50%              Less than 9th grade                                                                              Population Age 16+                                                                                         69,059
           13.90%
               13.90%                             Some High School                                                                                 In Labor Force                                                                                             49,718
                               5.40%
                                 5.40%
                                                  High School Graduate                                                                                       Employed                                                                                         47,770
                                                  Some College (no degree)                                                                                   Unemployed                                                                                       1,852
                                        21.40%    Associate Degree                                                                                           In Armed Forces                                                                                  96
    25.80%                             21.40%
25.80%
                                                  Bachelor Degree                                                                                  Not In Labor Force                                                                                         19,341
                                                  Graduate or Professional Degree                                                                  Number of Employees
                                                                                                                                                   (Daytime Population)                                                                                       21,761
                                                                                                                                                   Number of Establishments                                                                                   2,193
           7.40%
    7.40%                      21.70%
                             21.70%
                                                                                              PEDC Annual Report 2008          7



Catalyst for Growth

B iz Connect Helps B oost                                    Three of the businesses visited this year completed

Local Businesses                                             expansions. Texas Honing added 100,000 square-feet
                                                             of manufacturing space to its Pearland facility in April
It was another stellar year for BizConnect, Pearland’s       2008 as a result of an $80,000 grant from the PEDC.
premier business retention and expansion program.       In   Third Coast Terminals, which is in the middle of a four-
2008, the team – which consists of the PEDC, Pearland        year expansion project, added more warehouse space.
Area Chamber of Commerce, Alvin Community College-           The PEDC worked with Third Coast to fast-track the
Pearland Center and the Greater Houston Partnership –        permitting process and continue to help them attract a
visited a total of 43 local businesses, providing guidance   qualified workforce. Finally, Gartner Coatings installed a
and access to resources where needed.                        fire hydrant and water line extension. The PEDC assisted
                                                             with a grant to fund the $40,000 project, which was
                                                             completed in fall 2008.


                                                             In the current        national   economic      crisis, business
                                                             retention is going to be a primary PEDC focus for 2009.
                                                             The PEDC and the entire BizConnect team plan to work
                                                             diligently to help shepherd local businesses through
                                                             policies and processes for a variety of issues they face.
                                                             These include: expansion/relocation within Pearland,
                                                             Foreign Trade Zone activation, new development issues,
                                                             infrastructure needs and job training.         The goal is to
                                                             ensure that the local business community has what it
                                                             needs to weather this economic storm, and emerge from
                                                             it stronger than before.
Gartner Coatings



Community Facilities                                         Distance From Pearland to ...

Hospitals          10 within a 20-mile radius                Hobby Airport (HOU)                3   Miles
Hospital Beds      1,239+                                    Texas Medical Center               8   Miles
Hotels (4)         390 rooms                                 NASA – Johnson Space Center       11   Miles
Motel              45 rooms                                  Port of Houston                   20   Miles
Medical Clinics    40                                        George Bush Intercontinental
Churches           39                                          Airport (IAH)                   38   Miles
Newspapers                                                   Port Freeport                     52   Miles
  Daily            1                                         Austin                           210   Miles
  Weekly           3                                         San Antonio                      240   Miles
Television                                                   Dallas                           290   Miles
  Public Access    City View 16
Radio Stations     23 AM & 25 FM
8   PEDC Annual Report 2008




    Catalyst for Growth                                                   cont’d


    Redevelopment Begins                                                           S elling Pearland
    for Old Townsite                                                               A cross the G lobe
    Established in 1894, Old Townsite is where Pearland                            Actively marketing the City of Pearland is one of the
    began as a city.                                                               PEDC’s most important ongoing initiatives. And, 2008
                                                                                   was an active year for introducing the city to people from
    Oct. 1, 2008, the PEDC set aside funds to begin multiple                       all parts of the world. Highlights included:
    redevelopment initiatives.              The first projects include the
                                                                                       •	 Partnering	with	groups	such	as	the	Greater	Houston		
    installation of historic street signage and new entryway
                                                                                          Partnership’s “Opportunity Houston” program, the
    signage at the Walnut and Broadway Street intersections,                              Governor’s TexasOne organization and BioHouston.
    along with distinctive landscaping. When complete, these                              Working together, the PEDC hosted or attended more
    projects will help establish architectural design standards                           than 30 business recruitment missions that took them
    that will create a more consistent image in the district.                             around the globe to New York City, Los Angeles, Belgium,
                                                                                          Spain and Mexico City. These marketing events helped

    Other long-term plans include redeveloping Grand                                      the PEDC establish numerous solid relationships at
                                                                                          national and international levels with companies that
    Boulevard with accompanying streetscape and beautification
                                                                                          see Pearland as a city of opportunity.
    enhancements, as well as restoring and moving the old train
    depot to Old Townsite.                                                         	   •	 PEDC	participated	in	several	tradeshows	and	industry		
                                                                                          events this year, including appearances at the BioMedica
    Neighborhood residents and approximately 30 businesses                                2008 (April 2008), Bio2008 (May 2008), CoreNet

    in the district recently formed the Pearland Old Townsite                             Global Summit (May and November 2008), Area
                                                                                          Development Magazine’s Site Consultants Forum
    Business Coalition, a nonprofit organization that is fostering
                                                                                          (June and December 2008) and Foreign Direct
    private investment interests to work with the PEDC in
                                                                                          Investment Location USA Summit (September 2008).
    targeted revitalization efforts.




    Major E mployers

    COMPANY                 DESCRIPTION                       EMPLOYEES                COMPANY                  DESCRIPTION                         EMPLOYEES

    Pearland ISD            Education/Administration          2,400                    TurboCare                Turbo Machinery Mfg./Repair         181
    Wal-Mart                Retail Sales                      800                      SolvChem                 Liquid Chemical & Packaging         157
    City of Pearland        Government                        471                      Profax                   Welding Equipment                   150
    Kemlon                  Oil Field Services                325                      Super Target             Retail Sales                        150
    ShawCor Pipe Protection Pipe Coatings                     275                      Houston Tubulars, Inc.   Steel Pipe Warehousing              134
    Davis Lynch             Cementing and Floating Equip.     250                      Lowes                    Building Materials                  132
    Weatherford             Oil Field Equipment Mfg. & Svs.   240                      Pauluhn Electric Mfg.    Industrial/Marine Lighting Equip.   100
    Home Depot              Building Materials                225                      Strickland Chevrolet     Automobile Dealership               100
9   PEDC Annual Report 2008




                             PEDC
    PEDC 2008 C alendar of Events I ncome Statement
    PEDC was created in 1995 by the voters under the Texas Development Corporation Act of 1979. The Corporation
    is financed by additional sales tax of a half-cent. State law allows the City to collect this sales tax to assist in the
    promotion, enhancement, and development on behalf of the City.


    The Board of Directors are appointed by and serve at the discretion of the City Council. City Council approval
    is required for annual budgets and bonded debt issuance. The role of the Corporation is to provide guidance and
    funding for the operations of the City’s economic development program and provide business incentives to support
    and promote the growth and diversification of the City’s economic base. Various programs run through the
    Economic Development Department.


                                                                       FY 2008             FY 2008             FY 2009
                                                   FY 2007           AMENDED             YEAR END            ADOPTED
                                                   ACTUAL             BUDGET           PROJECTION             BUDGET
    OPERATING REVENUES
    Sales Tax                                   $ 5,326,104         $ 5,887,793         $ 6,008,600         $ 6,961,117
    Interest Income                                 802,413            290,585              300,000            160,000
    Bond Proceeds
    Transfers In                                     30,470                                 546,515

    TOTAL                                         6,158,987          6,178,378            6,855,115           7,121,117


    EXPENDITURES
    Operating                                       898,764          1,293,676            1,309,813           1,590,430
    Incentives                                      203,812          1,135,851              498,581           1,728,316
    Transfers Out                                12,661,883          5,550,429            5,323,439           1,671,757
    Bond Payments                                 1,397,781          1,414,368            1,414,369           1,416,144
    Inventory                                         2,330              3,000                2,141              5,000
    Capital                                           6,090                                                    100,000

    TOTAL                                        15,170,660          9,397,324            8,548,343           6,511,647


    NET CHANGE IN FUND BALANCE                   (9,011,673)        (3,218,946)          (1,693,228)           609,470

    FUND BALANCE - BEGINNING                     18,358,985          9,347,312            9,347,312           7,654,084

    RESERVE                                                                                                 (1,000,000)

    FUND BALANCE - ENDING                       $ 9,347,312         $ 6,128,366         $ 7,654,084         $ 7,263,554
                                                              PEDC Annual Report 2008   10


P earland E conomic Development C orporation
Board and S taff

O fficers
  George Sandars
  Chairman

  Ed Thompson
  Vice Chairman

  Lucy Stevener
  Secretary




Directors
  Virgil Gant
  Katheleen Hartin
  Gary Idoux
  David Stedman



Executive S taff
  Fred Welch Executive Director
  fwelch@ci.pearland.tx.us

  Ramon Lozano Assistant Director of Economic Development
      É
  rlozano@ci.pearland.tx.us

  Kyler S. Cole Director, Redevelopment
  kscole@ci.pearland.tx.us

  Jenny Brannon Economic Development Specialist
  jbrannon@ci.pearland.tx.us


  Janice Vega Office Coordinator
  jvega@ci.pearland.tx.us




Pearland Economic Development Corporation
3519 Liberty Drive Pearland, TX 77581

Phone: 281.652.1627           www.pearlandedc.com
Fax: 281.652.1704             www.thespectrumclearcreek.com
Toll Free: 1.800.240.3684     www.pearlandprospector.com
                              PRSRT . STD .
                              U . S . POSTAGE
                                PA I D
                              P earland, TX
                              Permit No. 195




Pearland Economic Development Corporation
           3519 Liberty Drive Pearland, TX 77581