Denison Development Alliance!

[Dwayne Wilder]

The 'CHAMP'
The Denison Development Alliance Board of Directors today approved an incentive package for existing business Champion Cooler to expand its manufacturing facility in Denison.

The 58 year old company is adding 30 jobs and will receive up to $100,000 from DDA in order to relocate those jobs from a facility in New Mexico. Champion Cooler is investing half a million dollars in the Denison location under the agreement.

Also, in the executive closed session, the board discussed projects BRB, CHANG and WANDA, but did not take any action on an item.

In open session, the directors accepted the audit report for 2011 from Conway Associates, CPAs. The accounting firm gave DDA an 'unqualified clean opinion.' Among the findings, DDA's cash level is acceptable, net assets are healthy, internal controls is good and there were only two non-material adjustments.

In other business, the board approved the May Financial Report and reviewed the investment report.

Loretta Rhoden, vice president for operations, reported that the recent "Business Education for Teachers" was a success. She noted that 12 teachers from both Sherman and Denison participated with area industries to be 'on the floor.' Both teachers and management said they wanted to do the program again next year, Rhoden added.

In other staff reports, Vice President for Business Development Scott Smathers told directors that DDA was working with 'three or four' prospects at North Texas Regional Airport; two others in Denison proper and two additional requests for possible projects. DDA is still pursuing the John Mansfield property sale; and is working with Union Pacific on a possible rail spur for local businesses.

Smathers also reported that the building renovations for the Caterpillar offices downtown are ahead of schedule and the company may move in a month or so early; around July 23.

"This new tenant downtown is already having an impact on Main Street," said Smathers.

DDA is also working with R.K. Hall for the Commerce Street expansion for ACS Manufacturing; Oncor property; regional branding and small businesses across Denison. Smathers added that the GIS project with the city of Denison is progressing; and the Catalyst project is under the review status.

The next meeting will be held 1:30 p.m. July 20 at DDA office 311 W. Woodard downtown. The meeting is open to the public.