Aerospace Company Could Be Headquartered In Midland 7/5/12
CBS 7 News
July 5, 2012
Midland, TX - An aerospace company could be bringing their operation to the City of Midland. It's a story CBS 7 been working on for months. Multiple sources throughout the City tipped me off of something big coming to midland that would promise economic diversification and sustainability.
CBS 7 was informed by the Midland Development Corporation that an announcement of a new industry that may be coming to the area was planned for this coming Monday. This evening CBS 7 discovered an agenda of a Midland Development Corporation special meeting to be held this Monday that listed the company "XCOR Aerospace" several times and we are learning more about a multi-million dollar deal that could bring a promising industry to west Texas.
Earlier today, CBS 7 met with Pam Welch, the Executive Director of The Midland Development Corporation to discuss the organizations efforts to diversify the economy.
"The board has always strived to bring in those companies who diversify the economy, even though the oil and gas industry is our bread and butter and we certainly appreciate everything they've done for the community, we want to bring in companies to diversify when things slow down, we still have jobs," said Pam Welch, Executive Director, The Midland Development Corporation.
And Welch says they have been very successful and new industries have their eye on Midland.
"The MDC works daily on trying to diversify our industry here in midland and we will continue to do that and hopefully we'll have good news shortly," said Welch.
Good news like a major announcement, according to the Midland Reporter-Telegram, that was scheduled for this Monday, pending approval by the MDC and the Midland City Council that XCOR Aerospace, a commercial space transportation company, would be offered an incentive of about $10 million to create their corporate headquarters in Midland. According to the article, if the deal is approved on Monday, XCOR Aerospace will operate a research and development facility in Midland where they’ll conduct test flights.
We're led to believe that means here near the airport because on the development corporations meeting agenda there is a sublease agreement with XCOR Aerospace regarding property at Midland International Airport. We'll of course keep you updated as more information becomes available.