New Braunfels (TX) – Business Park Feasibility Study
ChallengeThe need for prepared industrial sites in New Braunfels was identified as part of a comprehensive automotive supplier attraction strategy designed to leverage the city’s proximity to Toyota’s San Antonio plant. The strategy, prepared by TIP in 2003, specifically identified the property adjacent to the New Braunfels airport as being suitable for Toyota suppliers and other industrial and commercial users. Support for development of the airport site was based on several factors, including city control of the property, the existing transportation network, as well as planned improvements in the area. To better understand the site’s potential, the city’s electric utility, New Braunfels Utilities (NBU), engaged TIP Strategies and TAG International, an Austin-based design/build firm, to explore the feasibility of developing an industrial park at the New Braunfels Municipal Airport.
ApproachPhase I was intended to identify any major constraints and to estimate the impact of a potential development scenario for the park. To accomplish this task, we reviewed available data on the site, conducted an industrial market analysis, benchmarked other successful business parks (three industrial parks in Indiana and Kentucky), and met with key officials at NBU and the City of New Braunfels to discuss how the proposed business park fits within current and future plans. Based on this work, the consulting team developed a build-out scenario for the park that included a mix of automotive suppliers and other likely tenants and prepared an estimate of the fiscal impact.
OutcomeThe City of New Braunfels, the New Braunfels Airport, and the New Braunfels Chamber of Commerce are aggressively pursuing new development opportunities at the study site. The feasibility analysis document is being given to companies considering the area for new locations. The airport has been successful in attracting new flight training to the airport and the Central Texas Technical Center has immediate expansion plans. Both of these events will further enhance the value of the airport site for new industrial development.
Photo credit Stuart Geiger