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Temple EDC reports new investments, highlights Korean aerospace manufacturer site
Summary
Temple Economic Development Corporation told the council it recorded $122 million in announced investment in FY24, reported 124 new jobs tied to those projects and highlighted a South Korean aerospace supplier’s first U.S. manufacturing facility in Temple; the EDC said growth is driving larger taxable valuation and reinvestment-zone gains.
Mr. Canade, representing the Temple Economic Development Corporation, delivered the EDC’s annual report to the Temple City Council, describing fiscal-year activity and recruitment efforts aimed at growing primary jobs in the community.
The EDC reported $122,000,000 in total investment announced during the past fiscal year and said 124 new jobs were announced in connection with those projects. Mr. Canade told the council that taxable valuation grew about 8% year over year and that the Reinvestment Zone—largely the city’s industrial park—has increased by about 60% over the past five years. "We are primary job focused, and so our desire is to grow primary jobs in our community," Mr. Canade said.
The presentation singled out a major project from Seiya Super Alloy Technologists (described in the presentation as a Korean steel/alloy supplier in aerospace). Mr. Canade said the company is building its first U.S. manufacturing facility in Temple and characterized it as the company’s first U.S. manufacturing investment; he described the project as likely to draw national and international attention. "Their first manufacturing US investment in Temple, Texas, was really special to him," Mr. Canade said, recounting comments by the company’s CEO.
EDC staff also reviewed smaller retention and infill projects, including a roughly $400,000 renovation that reactivated a previously vacant building and a Chep Manufacturing site expansion that retained about 27 jobs and is expected to add about 19 new positions. The EDC noted it has ongoing recruitment activity and that roughly 47 projects were worked during the period, with manufacturing accounting for the largest share.
Mr. Canade described digital outreach metrics (about 21,000 visits to the EDC investment website in FY24) and said the organization recently rebranded workforce attraction materials from "Meet Temple" to "Live, Work, and Temple." He identified the EDC leadership and staff present and thanked elected officials and city staff for their partnership.
The presentation included a short video of the groundbreaking event with company representatives. Council members thanked the EDC for its work and moved to the consent agenda.
Note on transcript ambiguity: during the EDC presentation the transcript contains an unclear figure about "contracted" capital investment rendered as "about $2 +1,000,000,000." The EDC speaker framed the number as projects under contract or economic development agreements undergoing due diligence; the exact contracted figure was not clear in the transcript and is therefore reported as stated by the presenter rather than converted to a precise dollar figure.
