Lubbock's big cheese deal a highlight of economic development
Lubbock leaders reflected on the community’s economic growth over the last year and had a hopeful outlook on a cheesy future during the 2021 Lubbock Economic Forecast Luncheon this week at the Overton Hotel and Conference Center.
The event hosted by the Lubbock Economic Development Alliance provided updates on economic developments in the past year.
Barry Orr, chairman of the board for LEDA, said that having a pro-business City Council has been a blessing as they have continued to pave the way for business to grow despite the lingering COVID-19 pandemic.
“Businesses continue not only to survive but thrive,” Orr said. “We have a unique population in this town - we were willing to put in the work and are willing to serve.”
John Osborne, CEO and president of LEDA, said the opportunities that have been created in Lubbock throughout this year promise a bright future with growth.
“This kind of growth does not happen overnight, this is a result of the decades of hard work, vision and leadership to build this future,” Osborne said.
Osborne added that Lubbock businesses have added 5,000 new jobs in the past 12 months and sales tax collections have gone up over 9% year over year.
Osborne revisited the recent announcement of the single largest private capital investment made in the history of Lubbock, with the planned Leprino Foods mozzarella factory near East Loop 289. In September, Gov. Greg Abbott joined Lubbock officials and leaders with Leprino to announce the company will invest $870 million to build a manufacturing plant located on 258 acres in East Lubbock.
This represents the largest single private capital investment announced since LEDA’s inception and the 12th largest private capital investment project in Texas since the establishment of the Texas Enterprise Fund in 2003, according to a statement from LEDA.
The economic impact of having a project of this magnitude in the community is far reaching, Osborne said.
The company will be providing high-paying jobs and economic opportunities to the residents of East Lubbock and give our graduates another reason to stay in Lubbock, Osborne said.
Anirban Basu, CEO and chairman of Sage Policy group, an economic policy consulting firm, served as the keynote speaker at the event.
During his presentation, Basu highlighted economic impacts post pandemic as consumer behavior and policies changed during the past few years.
Basu congratulated Lubbock on getting the Leprino Foods facility, and described it as a big victory that is making national news.
This article originally appeared on Lubbock Avalanche-Journal: Lubbock's big cheese deal a highlight of economic development
