Economic Development highlights Blackwave investment, Brooks manufacturing project and $5.6M incentives fund

Brenda Hicks Lorensen, director of Economic Development, reviewed the FY27 proposed general fund budget ($16.9M, a 9.6% reduction) and restricted funds (~$7.5M). She said EDD has focused on supplier engagement, placemaking, and targeted global outreach, and will present a strategic framework update at the October 14 briefing. "We will be bringing forth the framework update for further briefing and discussion during the October 14 b session," she said.

Lorensen announced a recent recruitment success: a German high-tech tank manufacturer (Blackwave) that followed sister-city outreach has announced an initial $95 million investment and about 250 prospective jobs at Port San Antonio. She also referenced a separately announced $200 million industrial electric manufacturing project at Brooks that could occupy about 1,000,000 square feet and employ up to 3,000 workers by 2030. EDD intends to use $5.6M in incentive funds to support company growth and job creation and plans policy revisions to incentives with an emphasis on economic mobility and broader community impacts; those revisions are scheduled for committee review on Sept. 22.

The office emphasized continued partnerships with organizations such as LiftFund, Greater SATX, SupplySA and LaunchSA for small-business support, and noted site-readiness assessments for 10 candidate sites to accelerate investment readiness in FY27. Councilmembers asked for data on LiftFund loan outcomes and for targeted outreach to underserved communities; EDD committed to providing maps and outcome data and to enhancing marketing in FY27.