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Economic development presenter Cameron cites $650 million in recent investment, 1,100 new jobs
Summary
City economic development presenter Cameron told the Georgetown council the city recorded about $650 million in capital investment and more than 1,100 new jobs in the past 12 months, highlighted targeted growth in advanced manufacturing and data centers, and described incentive tools and workforce partnerships supporting those projects.
Cameron told the Georgetown City Council the city recorded about $650,000,000 in capital investment and more than 1,100 jobs in the last 12 months, part of a broader five-year trend of rapid growth that city staff are trying to shape through targeted planning.
The presenter said the city’s 2024 economic development strategic plan emphasizes business development, workforce partnership with GISD and placemaking. "We had $650,000,000 of capital investment, over 1,100 jobs, and 573,000 square feet of space utilized," Cameron said, listing recent projects including Total Site Solutions, Blueprint Data Centers and Pegatron.
Why it matters: Those investments are concentrated in advanced manufacturing, computer electronics, aerospace and clean‑energy clusters that the city believes will provide higher taxable value and stable jobs. Cameron said the city is aiming for “quality growth” that funds public services while limiting unintended community impacts.
On incentives, Cameron walked the council through the toolbox staff uses: tax abatements (property tax reductions up to 10 years), tax rebates, Freeport exemptions for certain exported inventory, Foreign Trade Zone benefits and partnership roles for Type A (JEDCO) and Type B (GTEC) economic development corporations. He emphasized that incentives are performance-based, tied to minimum full‑time employment, capital investment and construction milestones, and subject to clawbacks and annual compliance reporting.
The presentation also addressed water and energy risks for data centers. Cameron described closed‑loop cooling systems that recirculate water and estimated a 75‑megawatt data center using such a system would consume the water equivalent of roughly 7–15 homes, depending on site and equipment. Council members asked clarifying questions about vacancy and leasing; staff said about 4.1 million square feet of industrial space had been leased, with the larger buildings largely taken and smaller spaces remaining harder to place.
Council members praised the economic development team for recruiting a mix of international and U.S. firms and for coordinating with local education partners to create career pipelines. Cameron said the city will continue to balance industry recruitment with infrastructure planning and community benefits.
Looking ahead, staff said they will continue outreach to prospective retailers and mixed‑use developers, and will return with project‑specific items and any requests for incentives as they arise.
