CBS 19 - The Eye of East Texas News - Reinvesting in South Longview

Reinvesting in South Longview

LONGVIEW, TX (KYTX) - When you get off I-20 at Estes Parkway in Longview, you’ll see an abandoned gas station, but there are signs of improvements, like a motel being renovated.

“It’s called a Tax Increment Reinvestment Zone,” said Executive Director of Longview Economic Development John Stroud. 

One year ago this month, the City of Longview created that zone in South Longview around the I-20 corridor. Stroud said they did it so the future of this area would be prettier.

“The idea is to use the incremental taxes that are gained in that area for improvements in that area,” he explained. 

In the last year, Assistant City Manager Chuck Ewings said the zone only returned $10,000, but the potential growth is in the millions.

“As property values increase, the tax is collected on the new values, is reinvested in the zone,” Ewings said. 

The key there is the property values increasing. Stroud said that can be done by drawing in new businesses.

“There are over 1000 [hotel] rooms there and there’s a need for restaurants, and conference centers and things like that in that area,” he said. 

LEDCO is marketing the opportunities, hoping to attract the high dollar developers. All that money, Ewings and Stoud said, benefits the community.

“Redevelopment, revitalization, attracting new business to the area which would in turn create jobs,” said Ewings.
 
“As we can strengthen each area of our community, the entire area will grow. It’s kind of like a rise in tide lifts all boats,” said Stroud.

The money reinvested can then fund street improvements, any city facility like a park, plus water and sewer lines.