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Economic Quarterly 2023 Q2: Does Groesbeck Have Any New Businesses Coming In?

It’s the most asked question of every economic developer. Most of the time, it’s one of two answers – “Potentially…” or “Yes”. 

Opening the doors for business is the last possible piece snapped into the “have a new business” puzzle. There are a pile of known and unknown pieces to be sorted before hanging that first framed dollar on the wall.

Like what you ask? For starters, does the right amount of property exist in a usable or accessible location? If so, will the owner actually sell? Is it for a prices that the business can cover and still make enough profit to survive?  Is the space move-in ready or does it need more upfront investment? Will the buyer walk in to a surprise raised price on closing day? Will the buyer discover undisclosed structural damage from decades ago during a remodel? 

If the business relies on local support, are there enough households in the area shopping locally for what they sell? Is it a product or service consumers will be inclined to buy here on a regular basis? Is there enough daytime population or exposure to support growth? 

If the business serves needs outside of Groesbeck, a critical factor is an available workforce.  What type of talent and employee skillsets does the business need to function? 

None of these are points for dramatic effect but real challenges and matters of consideration for hopeful businesses to get from “potential” to “yes”. Crossing the finish line takes a lot of the right circumstances, in the right timing with the ability to survive the obstacles you never see coming.

In January of 2019 GEDC started working with a Hillsboro-based manufacturing company. One of their major service partners was established in Groesbeck. The move would drastically reduce the transport costs between the two businesses and increase margins for both. The existing company would gain strength and the new company would bring full-time jobs. We explored options to relocate the company to the Groesbeck industrial park for the next two years. There were property surveys, letters of intent, negotiations, engineers involved and drawings produced. Even with all of our agreements and best efforts, unforeseen circumstances didn’t align at that time. 

We didn’t get that business into the industrial park. Nonetheless late last month,  a crowd of community leadership, Chamber members, fellow business owners, employees, family and friends gathered to celebrate their grand re-opening here in Groesbeck – as the newly expanded S&S Machining and Fabrication. In 2022, circumstances shifted towards opportunity.  Rather than build, the Hillsboro-based manufacturing company acquired that trusted service partner (S&S Machining). They relocated, expanded the building and combined all of the operations in Groesbeck. In that short time, the re-vamped S&S has made major investments to grow cnc precision machining and added equipment rental operations with more developments planned.

Moral of the story? We don’t always get a new business the first time, the second or in this case – the way we planned but here we are just the same. To celebrate the improved S&S Machining Fabrication and Equipment Rentals, there was free food, drinks on the house, iced coffee, prize raffles throughout the night, cake and live music. It was a good time that night but for the future of our community, it represented a more important picture to take in. The celebration for the community is a strengthened local business. The expanded facility and new services have opened additional job and career options. Beyond any of prizes raffled, our local economy takes the biggest win with additional product exports, trade and services that infuse new dollars into Groesbeck households.

So, back to that number one question. “Are there any new businesses coming to town?” Potentially. There is always something in the works. When one does get all the pieces in place for the resounding “Yes! We have new business coming in!”, we ask one thing of you:

Look beyond drive-thrus and new meal combos.  Groesbeck doesn’t have the real estate, population density or anchors required by big retail or fast food. Until it does, they won’t invest. Don’t let that cause you to overlook the job creators that are having a positive and sustainable impact every day.  Don’t overlook the added job opportunities, training experience, healthcare and benefits that help start and stabilize households. The ultimate goal is a healthy, growing local economy that’s poised for long-term stability. To that goal, Groesbeck has seen steady business growth for several years. The skyline we drove by 5, 3 and even 2 years ago is not the one we drive by today. Don’t look past the hardworking businesses that are a crucial part of making that happen.

If you have any questions, would like to know more about GEDC’s Economic Quarterly, the health of our local economy or state of business growth, don’t hesitate to reach out to TK Presley at

Economic Quarterly – Q1 2023

As we’ve taken the first steps into 2023, national economists continue to go back and forth on our being on the cusp of a recession vs having already entered. The most optimistic national economists suspect to see the markets “tread water”. Some of our state’s top economic leaders in Texas paint a rosier picture. Though disposable incomes are being heavily pressured, employment and economic growth have performed very well. 

Mirroring Texas’ rosier picture, the last two years in Groesbeck have seen significant upticks in the number of new jobs created and overall economic performance. As a result, there are more specialized positions with local companies than most patrons and area professionals realize. Multiple growing companies have made sizable investments in machinery, new technology, services, products and report enough workload to add additional shifts – if they can get the workers. 

In 2023, a significant undertaking of the Groesbeck EDC will be working with those primary job creators to get the showcasing they deserve and promote their newly available positions. With that, we’ll be making headway on an initiative to help individuals who would like to but currently need help enter the workforce. Finally, we look forward to working with more of our businesses interested in exploring what it takes to stay relevant in changing markets and putting it into action. 

In the meantime, 2023 looks like a good year for every business to think about shoring up what they have and revisiting the foundation to keep current customers coming back, win new ones and make smart, forward-thinking investments. Here are our top tips to earn growth in what may be a “tread water” year:

Focus on Quality: Make sure that the quality of your product remains high or improves if need be. This helps make sure customers stay loyal and new customers become willing fans. Consumers have more choices than ever. During economic changes, behaviors change. Gaining or maintaining quality output will determine the standout businesses from those struggling.

Invest in Technology: Take advantage of technology to make your business more efficient and cost-effective. This will help you reduce expenses, ease your workload, and remain competitive. If you need help discovering ways to leverage technology in your business, don’t hesitate to contact the local EDC.

Understand Your Market and the Local Market: Understand your target market and their needs. Also that those needs change as time, population and the economy change. You want to tailor your products and services to meet their needs so your business remains competitive. The EDC can help you better understand your current market, potential market, demographics and gain further market-specific insights.

Network: Expand your network by connecting with other local businesses. Gone are the days of finding success with the “us vs them” mentality in small-town business. Being cooperative with your peers will help grow your customer base, find partners, supporters and promotional opportunities you didn’t know you had. If you are actively seeking ways to meet or network with peers in your industry, reach out to the EDC. We can help.

Stay Curious but Give Your Changes a Chance: Understand the fine balance between not getting too attached and giving changes enough of a chance. Learn from your results, the industry, your customers and don’t be afraid to adapt. Resist the tendency to get married to a certain product, business model, direction or way of doing things. When you change something, give it a chance to get out there and stick to assess the real results.

Focus on Customer Service: Make sure that you provide excellent customer service. Don’t take your loyal customers for granted by letting service levels slip because you two are familiar. It only makes poor service feel personal. On the other side, you never know who that new customer is, what connections they have or how much winning them as a customer will be worth long term. Both are equally important. 

Utilize Social Media: Use social media to connect with customers, market your products and services, and build relationships. Now, the first place prospective and existing customers look is online, on Facebook, Yelp or Instagram. If you need help figuring out where to start or need to improve your online representation (you probably guessed it…) reach out to your local EDC office. 

Know Your Numbers: Financial health IS the health of your business. A thorough understanding of overhead, cash flow, profit and loss margins are the vital signs of your business. This is where you can find of wealth of insight on where your business stands to grow or is losing precious dollars. Having your numbers in order and well-studied is also one of the first steps to seek funding or take advantage of the most impactful programs.

Until next time, if you have any questions, would like to know more about the EDC, our services or anything contained here in The Quarterly, don’t hesitate to reach out to