Published: November 05, 2009 11:31 am      

Cleburne EDF remains financially strong, liability free

Despite recent economic turbulence nationally and statewide, the economy of Cleburne and the surrounding area remains relatively healthy, said Stan Gray, president of the Cleburne Economic Development Foundation during Wednesday’s annual membership meeting held at Caddo Street Grill.

“The last several years, economic times have been difficult,” Gray said. “Fortunately, we had the Barnett Shale gas play here. We saw that go away almost as quickly as it got here, which is why we’re fortunate to have our industrial base here. All in all, our economy in Cleburne remains healthy despite some downturns.

“We’ve had some, not a great deal, but some [business] inquiries about Cleburne, and I think we’ll begin to see more as things improve. We’re set up and have the infrastructure for business and industry.”

Wednesday marked the 46th annual meeting of foundation members. The organization was founded in 1963 to improve the quality of life and encourage business and industry to invest in and create jobs in Cleburne, Gray said.

Although the Cleburne area sustained a partial economic slowdown this year, the CEDF remains strong, said CEDF treasurer Jerry Wheatley.

CEDF earned about $647,000 in revenues during the fiscal year, including about $601,000 of royalties for gas leases on CEDF property and about $25,500 in interest, Wheatley said.

The foundation purchased 28 additional acres of land in the Cleburne Industrial Park area bringing the organization’s land holding total to 245 acres. With cash and land, the foundation has about $3 million in assets and no liabilities, Wheatley said.

“And we aim to keep it that way,” he said.

Gray called the stop and start nature of the proposed Texas 121 project a major impediment to Cleburne and Johnson County’s future.

“I’m not real certain anyone knows what’s going to happen with it,” Gray said. “I’d urge you all to speak up any time you have the chance and bring pressure to bear on any politicians and officials connected to the project because it is vital to the continued economic health of Cleburne. Eventually it will get here, but we’d like to see it sooner than later.”

Proposed plans to extend Texas 121 from Fort Worth to Cleburne have stalled for the time being becasue of a lack of funding, according to officials with the North Texas Tollway Authority.

CEDF Executive Director Jerry Cash discussed the local economy over the past year, new businesses, and building projects in the area.

“We were slower in seeing the economic slowdown in Texas and Cleburne, but it did finally catch up with us this year,” Cash said.

Cleburne unemployment is 9.6 percent compared with less than 4 percent at this time last year, Cash said. Working gas well rigs in the county total 13 compared with about 60 in previous years, and sales tax revenues have declined, as has new residential construction, Cash said.

Despite that, Cleburne remains stronger than many areas of the state and country, Cash said, and continues to attract new business and projects.

Several projects Cash cited include a new flight and helicopter school at Cleburne Municipal Airport, new ownership of Nolan River Mall, several hotels completed or under construction, newly constructed office and industrial space and other businesses new to the area in the past year.

Cash also cited several city projects under way or completed in the last year including the Booker T. Washington Community and Recreation Center, the Cleburne Links Golf Course, the Lowell Smith Sr. History Center and the Cleburne Conference Center.

Foundation members elected or re-elected five directors to three-year terms on the board of directors. They were Sandy Ledbetter of Grandview Bank, John Turman of DOLCO Inc., Tim Lyness of Lyness Construction, Robby Cook of Lone Star Outdoors and Robert Childress III of Childress Engineers.

Eight senior members were also elected to new three year terms, all of whom have served at least 20 years as foundation members. They were Lowell Smith Jr., George Marti, Albert Archer, Judge William Anderson, Sam Walls, Clifford Recer, Bob Childress and Bob King.