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Wylie EDC presents 2024 annual report; highlights land sales, projects and workforce grants
Summary
The Wylie Economic Development Corporation reported audited fund balances, sales-tax revenue, ongoing projects (Cooper Plaza, 544 Gateway) and workforce-development grants; board presented financials and goals for 2025.
The Wylie Economic Development Corporation presented its 2024 annual report to the city council on March 25, reporting audited fund balances, revenues and a slate of ongoing development projects.
EDC director Jason Greiner said the EDC opened the year with an anticipated fund balance of $11,100,000 that was later audited and adjusted to $12,600,000. He cited total revenues of approximately $5,200,000 (including sales-tax receipts and investment/lease income) and listed major expenses including personnel ($6,047,392), debt service ($1,200,000) and infrastructure and incentive payments. Greiner said much of the fund balance is reserved for projects under construction, including Cooper Plaza and the 544 Gateway development.
Greiner highlighted recent and ongoing projects: Woodbridge Crossing and Woodbridge Center (Target/Kroger) are substantially complete and generating tax revenue; Cooper Plaza and 544 Gateway remain under construction with multiple lots under contract; the EDC continues to market remaining acreage. He also said the EDC secured $235,000 in Texas Workforce Commission skills-development funds for three local businesses and reported Manufacturing Day and business-retention efforts that produced hundreds of student tours and workforce outreach.
Council voted to place the EDC's 2024 annual report on file. Councilman Scott Williams moved to approve; Councilman Dave Strang seconded. The motion carried 5-0 with two members absent. The report will remain available in the meeting packet on the city's website.
