December 22, 2015

It’s a pretty cool thing that Midland is involved in the space industry.

That really has been the average Midlander’s reaction to having space industry/aerospace companies such as XCOR and Orbital Outfitters relocate to Midland. It’s pretty cool. After all, we don’t fly into an airport but a spaceport -- specifically Midland International Air & Space Port. That doesn’t happen when you land in Dallas, Houston or Las Vegas.

December 20, 2015

Midland Development Corp. board members expect a deal they believe will save the city millions will also opens the door for economic growth at the Spaceport Business Park.

XCOR agreed on Friday to release back to MDC by January half of the facility it currently rents. XCOR also will pay $6,000 a month to lease its remaining half, or Hangar B.

December 18, 2015

The Midland Development Corp., on behalf of the city of Midland, authorized an item on their Friday agenda that essentially puts one year of tax revenue back into the MDC’s coffers.

XCOR agreed to give Hangar A -- or half of the building XCOR occupies at the Spaceport Business Park -- back to the city. The more than 40,000-square-foot space would cost about $7.5 million to build, which is the same amount of tax revenue that MDC gets in one year.

December 16, 2015

Mojave, 14 December 2015 - XCOR Director of Engineering and acting CTO Michael Valant announced today that his team has reached an important milestone in the development of the reusable 5K18 Lynx main propulsion rocket engine.

November 30, 2015

Midland Development Corp. board member Robert Rendall doesn’t view a reported change of management at XCOR Aerospace as a “big deal.” He said on Saturday things will continue as expected as the company continues its move to Midland.

November 30, 2015

WASHINGTON — Three co-founders of suborbital vehicle developer XCOR Aerospace who recently left the company have established a new company, one that was inspired by some of the development challenges they faced at XCOR.

November 18, 2015

The worst oil market in decades would be hard to spot in West Texas, where two-lane county roads are still jammed with trucks and energy companies are on the prowl for deals.

The Permian Basin, the biggest of the shale-oil regions that ignited the U.S. energy boom, is also the only one where production is increasing even as drillers idle more than half the rigs in the country during the longest price slump since the 1980s.

November 3, 2015

November 3, 2015 (Midland, Texas) – The Midland Development Corporation and the Midland City Council have approved an economic development agreement with Tenaris to establish a service center for the storage, inspection and preparation for the running of steel tubular goods for the energy sector. Tenaris has committed to new annual payroll of $3.3 million and $36 million in new capital investment by December 31, 2020. 

October 13, 2015

Midland Development Corporation received a Gold Excellence in Economic Development Award for its 2015 project in the category of Special Purpose Print Brochure for communities with populations of 25,000-200,000 from the International Economic Development Council (IEDC).

The honor was presented at an awards ceremony on Monday, October 5, during the 2015 IEDC Annual Conference, which was held October 4-7, in Anchorage, Alaska.

October 6, 2015

Midland’s economy grew by 24.1% last year, more than twice the rate of San Angelo, Texas, the metro area with the next largest economic growth. The exceptional gross domestic product growth rate in Midland and other parts of Texas is largely due to fracking activity over the past five years, which has pumped billions of dollars into the state’s economy. Just 2% of the U.S. employed population worked in the mining sector, which also includes agriculture, forestry, fishing and hunting.