A Letter from the Chairman (2023)
1 Feb 2023
What a year!
2022 brought tremendous success and opportunity for the Midland Development Corporation (MDC) and our city.
Recently, Midland was named the fastest-growing economy among midsize cities in the
United States. In the same study, Midland was also projected to grow more than twice
as fast as San Francisco. MDC projects and investments add to the economic expansion
happening in Midland and the Permian Basin.
Some of our most notable projects this year include:
- Partnering with the City of Midland, the MDC provided funds for Todd Drive, a north-south corridor vital for Midland’s eastward growth. Funding will purchase right-of-way to widen Todd Drive, and to design an overpass at Loop 250.
- The MDC committed a $5M reimbursement for city streets to serve an 18-acre retail development at SH 191 and SH 158. Anchored by Bass Pro Shops, this site will attract additional retail locations, increasing Midland’s retail base and attracting regional shoppers.
- The ribbon cutting of the brand-new Texas Tech Health Sciences Center Physician Assistants program took place this year, with the class of 2024 celebrating their Short White Coat ceremony at the new facility.
- The MDC worked with Higher Orbits, a nonprofit, and Midland Independent School District to bring the Go For Launch! Program back to Midland. This program offers hands-on participation in aerospace and STEM-related projects. This year, a Midland student was selected to participate in a 2-week program in Australia because of her participation in Go For Launch.
- Utilizing land leased from the MDC, Firehawk Aerospace is testing hybrid rocket engines just outside city limits.
- Continuing a successful partnership with the University of Texas Permian Basin
(UTPB), the MDC funded the fifth round of the Midland Entrepreneurial Challenge, in which local small businesses compete for prize money to expand their business. Small businesses are vital to Midland’s economy, and this program enables the MDC to support the city’s strong entrepreneurial spirit.
- The MDC co-hosted the 5th edition of the High-Speed Aerospace and Transportation Workshop at UTPB’s College of Engineering in Midland. This workshop brings aerospace and aeronautical professionals to Midland to learn, exchange ideas, and see what our region has to offer the aerospace industry.
- Downtown continues to be transformed, as the MDC contracted for and completed demolition of the vacant Western United Life Building and former West Texas Gas facilities on the block the MDC owns adjacent to Centennial Park. A request for proposals has been issued for interested developers to build something new.
- Midland International Air & Space Port purchased 327 acres east of the MAF terminal, utilizing funds from the airport and MDC. This aggressive expansion provides room for growth, and the MDC is marketing the land to aeronautical and aerospace companies to relocate or expand in Midland.
Midland is at the heart of the nation's energy production. We are receiving more interest nationally and globally and anticipate big opportunities in the year ahead. Moving into 2023, we will invest in our city to catalyze sustainable growth and positively impact future generations. We can't wait for what's next.