Paris Economic Development Corporation reports $100M in new investment, 540 direct jobs supported in 2024

Maureen Hammond, executive director of the Paris Economic Development Corporation, presented the PEDC’s 2024 annual report to the Paris City Council on Feb. 24 and highlighted major projects the agency supported last year.

"The mission of the economic development corporation is to promote the retention, growth and attraction of businesses that elevate employment opportunities, expand the economic base and enhance the quality of life for citizens of Paris and Lamar County," Hammond said.

Hammond told council the PEDC secured a $1,300,000 grant from the U.S. Economic Development Administration to fund infrastructure improvements at the Northwest Industrial Park that her office said helped land Lion's Head Specialty Tire and Wheel, a 20,000‑square‑foot facility expected to create about 40 jobs. She also reported Amazon opened a last‑mile facility in November and has ramped to approximately 200 direct jobs (about 100 associates at the facility and about 100 delivery drivers), and she summarized other announced projects she said are meeting performance agreements, including expansions and foreign direct investment.

Hammond provided summary numbers for 2024: PEDC‑supported projects she said backed 540 direct jobs (up 14.8% from the prior year), about $31,420,000 in annual payroll (up about 27%), and nearly $100,000,000 in new capital investment for the year. She said the estimated annual economic impact of the year's projects — jobs, payroll, household spending and tax revenue combined — is approximately $223,000,000 per year. Hammond credited coordinated work with local partners, the city and state, and she called workforce and housing among the priorities going forward.

Council members praised the PEDC's work and asked about targeted sectors. Hammond identified advanced manufacturing and said Paris benefits from 25% of the local workforce in manufacturing, plus assets such as water, rail and available land. She also said the PEDC will continue to focus on business retention and expansion and workforce strategies in 2025.

Why it matters: The PEDC presented metrics that its staff attributed to business‑attraction and retention activity in 2024, including federal infrastructure funding that PEDC staff said was instrumental in securing a manufacturing project and private investments the PEDC said are moving forward under performance agreements. The presentation is informational; no council votes were required on the report.