News

Texas Town's Fortunes Rise And Fall With Pump Jacks And Oil Prices

MDC Comment: This "boom and bust" cycle is why the MDC exists. We work to diversify our economy every day, to help support our primary O&G industry. Thank you to all of the hardworkers and entrepreneurs in our town.


Out on the wide open plains of West Texas, you can see the horizon for 360 degrees, interrupted only by the nodding up and down of pump jacks pulling oil up out of the earth.

There lies the aptly named town of Midland.

A Portrait Of America's Middle Class, By The Numbers

Not surprising, the distribution of the middle class varies by location and cost of living.

Midland, Texas, is currently home to one of the country's smallest middle-income groups — only 43 percent of the population. That's because so many people have actually gotten richer. In fact, thanks to the oil industry, Midland has the highest percentage of upper-income families in the U.S.: 37 percent.

Texas Tops Best Places to Work and Live

Whether you are a recent college graduate or looking for a fresh start, location matters when it comes to finding a job and an affordable place to live.  You not only want to find a high-paying job but you want to stretch the dollars you earn.  So where can you go to find that job and get the most bang for your buck? CareerCast crunched the numbers and found Texas may be the answer.

Scharbauer Foundation announces $10 million commitment to Midland ISD

The Scharbauer Foundation will donate $10 million to the Midland Independent School District to assist in overcoming its current financial crisis.

Foundation board President Clarence Scharbauer III and Midland ISD board President Rick Davis announced Friday the landmark philanthropic effort that will aid the district as it wrestles with a $25 million deficit caused by this year’s $50 million “Robin Hood” payment to the state of Texas.

Forbes drops list of largest U.S. private companies, and 16 are from Texas

Seven North Texas firms are on this year's  list of largest privately owned companies in the U.S., according to the 2016 ranking by Forbes.

Computer giant Dell is the state's highest ranking private company by revenue, checking in at No. 4 overall. The Round Rock-based technology hardware company had revenue of $54.9 billion. Dell recently sold its Plano-based information technology services division to NTT Data, a global technology services company.

XCOR announces launch partnership in Scotland

By Trevor Hawes thawes@mrt.com

Midland-headquartered XCOR Aerospace, Scotland-based Orbital Access and Glasgow Prestwick Airport are partnering to further pursue manned space launches.

According to a press release, the trio announced Tuesday at the Farnborough International Airshow their agreement to facilitate horizontal takeoffs and landings at Prestwick using XCOR’s Lynx suborbital spaceplane, which is still in development.

Aye, Lad! Glasgow Prestwick Spaceport, XCOR And Orbital Access Limited Sign On For Scottish Manned Space Launch

A strategic Memorandum of Understanding (MoU) has been signed by companies from the US and Scotland taking them a step closer to Scottish manned space launch. The US manned space launch vehicle designer XCOR Aerospace has signed with spaceplane design and operating company Orbital Access Limited and Glasgow Prestwick Spaceport. This partnership is supported by Scottish Enterprise, the Scottish Government’s economic development agency. 

XCOR Closes Strategic Partnerships for Scottish Space Launch

US manned space launch vehicle designer XCOR Aerospace has signed a strategic Memorandum of Understanding (MoU) with spaceplane design and operating company Orbital Access Limited and Glasgow Prestwick Spaceport. This partnership is supported by Scottish Enterprise, the Scottish Government’s economic development agency.

The MoU paves the way for the establishment of manned launch services at Prestwick using XCOR’s Lynx spacecraft with support from existing Scottish aerospace organisations.

The 2016 Sustainability Rankings Redefine Ecosystems

What if the term “ecosystem” were an accurate description of your company or region, rather than a wrung-out business metaphor?

That proposition lies behind Site Selection’s 2016 Sustainability rankings.

Reprising and upgrading rankings we published every summer from 2010 through 2013, this data-rich, one-of-a-kind index balances a number of factors comprising cleantech and green industry activity, energy awareness, the built environment, redevelopment of polluted sites, policy, and human well-being and quality of life.

Spaceport Business Park gets closer to construction

By Trevor Hawes thawes@mrt.com

Midland Development Corp. board members voted to release $3 million to Midland Spaceport Development Corp. during a special meeting Monday morning at City Hall.

The money will go toward funding Phase 1 of building Spaceport Business Park at Midland International Air & Space Port. Construction in this phase includes the extension of water and sewer to future tenants, as well as paving roads and building entrance points to the business park.

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