Independent auditor's report and financial statements for the fiscal year ended September 30, 2019.
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Independent auditor's report and financial statements for the fiscal year ended September 30, 2017.
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Since I joined the Midland Development
Corporation (MDC) Board of Directors in
January 2014, the MDC’s strategic efforts have
been focused on improving infrastructure,
higher education, and healthcare in Midland.
Our organizational mission is to enhance and
diversify the Midland economy, and our work
is congruent with that aim: without sufficient
roads, educational opportunities, and attainable
healthcare, our city’s explosive growth would
be stifled.
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About Us
The MDC was created in January 2002 to promote business expansion, job creation and capital investment to diversify and strengthen the Midland, Texas, economy.
We do so by offering incentives to qualified new and existing employers who create jobs for the community. Midland voters made these incentives possible when they approved a quarter-cent increase in the local sales tax rate, with additional revenues...
Category: Annual Report
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Independent auditor's report and financial statements for the fiscal year ended September 30, 2018.
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The Midland Economic Impact Study (the Study) was commissioned by Priority Midland to define the implications of Midland’s anticipated growth. Produced by economist Dr. Ray Perryman and The Perryman Group, the Study quantifies the magnitude of the expected industry, population and economic expansion, and identifies the challenges and opportunities that the energy sector’s surge presents to Midland and its residents.
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The Permian Basin’s oil and gas industry has emerged as the economic
powerhouse of the nation. With 8.5% year-over-year growth in
employment, and 30% growth in sales tax revenues, Midland is
experiencing an unprecedented economic upswing. In January
through October 2018, an estimated 40 new workers joined Midland’s
labor force each day. This is accompanied by the challenges of rapid
expansion that have revealed our...
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When Midland was founded
in 1881 as the Texas and
Pacific Railroad’s halfway
point between Fort Worth
and El Paso, it’s unlikely
that anyone had the vision that the city
would one day be the nexus of the nation’s
oil production, but Midland has become an
economic powerhouse. As Chairman of the
Midland Development Corporation, I want to
see Midland use its momentum to overcome...
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In this annual report, highlighting our fiscal year Oct. 1, 2015 – Sept. 30, 2016, we are proud to report that the Midland
Development Corporation has continued to make significant contributions to the foundation and merit of our town.
As the chairman of the board of directors for the Midland Development Corporation, I have a new appreciation for the
work we are doing in our...
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Independent auditor's report and financial statements for the fiscal year ended September 30, 2016.
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On behalf of our board members, our staff and myself, may this letter serve as our
collective “Thank You” for trusting and allowing us to serve each and every Midland
citizen in the year 2015. Our board and staff members have been laser-focused on
identifying companies which are suitable to locate their business in Midland.
Our community’s economy experienced transition and change in 2015. Therefore, the...
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Independent auditor's report and financial statements for the fiscal year ended September 30, 2015.
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What an honor it has been to lead the Midland Development Corporation in 2014. It has
been a year full of activity as the board of directors and staff have attempted to keep
pace with the record-breaking business activity in Midland County.
While virtually every economic indicator points to 2014 having the greatest economic growth in our
history, I am pleased on behalf of the...
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Independent auditor's report and financial statements for the fiscal year ended September 30, 2014.
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It is both a privilege and a pleasure to present the 2013 Midland Development Corporation Annual Report; a bird’s-eye view
of projects and partnerships that have paralleled high growth and low unemployment successes.
Midland and the MDC have had a fun and busy year with regular appearances in the news for improved rankings and broken
records. The MDC board of directors and staff...
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Independent auditor's report and financial statements for the fiscal year ended September 30, 2013.
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I believe in Midland! That being said, I believe in Midland when we are in strong economic times and I am a faithful “Midlander” during economic downturns. When describing the Midland of 2012 many words come to mind, words such as teamwork... prosperity… growth... opportunity... but for me the word I feel best describes Midland is MOMENTUM.
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Independent auditor's report and financial statements for the fiscal year ended September 30, 2012.
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Independent auditor's report and financial statements for the fiscal year ended September 30, 2011.
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In 2011 Midland Development Corporation found our ongoing mission at a crossroads. Though west Texas has experienced a healthy expansion, we’re still at the mercy of the bigger picture: those outside of west Texas and in some respect – even outside of Texas – are still reeling from a sluggish national and global economy. Corporations are still faced with a “wait and see” business expansion...
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If you have a business that would benefit from being located directly next to the airport, look no further than the Spaceport Business Park. There are 40 plus acres of build-to-suit sites available. Situated within the Spaceport Business Park is Hangar A, offering hanger space with runway access and ready to use office space. Also located within the park is the Midland Altitude Chamber Complex,...
Category: Video News
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On August, 7 2017, the Midland Development Corporation approved an agreement with Midland College for expansion of their Midland College Dual Credit Career Program and the Technology Education Program.
Download Press Release Here
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Independent auditor's report and financial statements for the fiscal year ended September 30, 2010.
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During 2010, Midland Development Corporation, with its board of directors, staff and many other partners, worked to
strengthen Midland’s position as the premier business center of West Texas. We worked collaboratively to aggressively pursue
business opportunities that would maximize the return on local tax dollars invested in growth of our community.
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Independent auditor's report and financial statements for the fiscal year ended September 30, 2009.
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Operating in one of the most extraordinary and uncertain economic environments in
recent history, Midland Development Corporation’s foresight to address the challenging
economy resulted in dynamic innovations that produced unprecedented achievements.
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Video rendering of the Midland Spaceport Master Plan
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The Midland Altitude Chamber Complex now has its third and final chamber installed. The Cabin Chamber is one of two chamber that can accommodate up to 10 people for rapid decompression. The chamber will be used to test equipment and pressure suits.
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Independent auditor's report and financial statements for the fiscal year ended September 30, 2008.
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Independent auditor's report and financial statements for the fiscal year ended September 30, 2007.
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2007 proved to be a transition year for the Midland Development Corporation. Although we were successful in providing incentives for companies to move to Midland and expanding our existing businesses, the leadership identified that we needed to review our strategy.
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Industry in Midland, Texas, is booming as can be read in publication after publication. Petroleum production and all things in between are prevalent in the area, but Midland is making great efforts and success in diversifying into additional industries such as aerospace. XCOR, a company out of California, will soon be establishing their R&D Headquarters on the flight line at Midland International Airport (MAF) following...
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The Midland International Airport (MAF) serves as a regional hub for the Permian Basin in additional to the Midland Air Park which accommodates smaller jets. MAF offers 30 flights per day with direct aces to six major hubs and if currently under evaluation by the FFA to be granted a Commercial Space Launch Site designation. When approved as a spaceport, MAF will be the very...
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Independent auditor's report and financial statements for the fiscal year ended September 30, 2006.
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Welcome to Midland, Texas. High skies. Open spaces. And nearly 300 days of sunshine each year. This is Midland. And with an international airport and impressive transportation infrastructure, it has become the perfect business hub between the East and West coasts. What’s more, Midland offers a
low cost of living, affordable land, and a friendly community built on solid values.
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Anyone who calls the Lone Star State home already knows it's the best, but now there's proof. Texas won the Governor's Cup this year from Site Selection magazine. That means corporations have rated this as the place to be. While the state as a whole is doing well, Midland stole a lot of the spotlight.
Many businesses set their sights on the Tall City,...
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Independent auditor's report and financial statements for the fiscal year ended September 30, 2005.
Category: Organizational Resources
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Independent auditor's report and financial statements for the fiscal year ended September 30, 2004.
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This report outlines the Midland Development Corporation’s stewardship of Midland’s 4A Sales Tax dollars
for the fiscal year 2003-2004 (October 1, 2003-September 30, 2004) and from the inception of the tax to September
30, 2004. The Midland Development Corporation’s Board of Directors expresses its sincere gratitude
to the citizens of Midland for their support of our community’s economic development efforts.
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Independent auditor's report and financial statements for the fiscal year ended September 30, 2003.
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Independent auditor's report and financial statements for the fiscal year ended September 30, 2002.
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