A new warehouse and distribution operation could be making its way to the Big Spring area, as the board of directors for the Big Spring Economic Development Corporation are expected to make a decision on an incentive package for the unnamed business during its Tuesday meeting.

Terry Wegman, executive director for the EDC, said details concerning the possible deal will be kept under wraps until the board gives it a nod.

“The board is expected to discuss the incentive package, and we should have a decision by the end of the executive session,” said Wegman. “I expect to be able to make an announcement during Tuesday's meeting. The business is a warehouse and distribution outfit. It's pretty small from an employee standpoint.”

Bringing the business in could be a bright spot for the ECD, according to Wegman, as the city is losing two employers. StarTek Inc. and Solitaire Homes recently announced they would be closing down their Big Spring operations in August.

“We could certainly use some positive news at this point,” said Wegman.

The board is also expected to discuss moving funds currently in the Settles Hotel escrow account — money the board voted to invest in the ongoing efforts to renovate the historic hotel by the Settles Hotel Development Company — to take advantage of higher interest rates.

“The funding in the account is very liquid,” said Wegman. “Officials with SHDC contacted us and let us know they would like to see some of the funds moved into an account that is accruing interest a couple tenths of a point higher than what its drawing now. So it's just a matter of moving it from one area to another.”

Moore Development directors voted unanimously in 2007 to provide up to $3 million to help Brint Ryan — manager of SHDC and the founder and CEO of Ryan & Company — renovate the Settles Hotel, which he agreed to purchase for $75,000 from the city of Big Spring.

SHDC announced plans for a $12 million renovation project in late 2006. According to SHDC officials, the project includes plans for commercial and residential use of the property, with retail space available on the first and second floors.

The board is also expected to approve a budget amendment that will make way for recent efforts to improve the runway at McMahon-Wrinkle Airpark.

The board voted unanimously earlier this year to kick in an additional $400,000 for efforts to re-pave the runway at the Big Spring Airport, bringing the economic development firm’s total commitment to the project — which is also being funded by the Texas Department of Transportation — to $800,000.

According to Wegman, the additional funding will allow the runway to be upgraded from a 7-inch thick project to 11 inches, which would literally “pave the way” for bigger planes to land at the facility.

“Big Spring EDC budgeted $400,000 for this project nearly two years ago,” said Wegman. “At that time, the plans were for a runway that was 7 inches deep, and the project was going to cost $6.26 million. TxDOT was going to pay 90 percent of that, which came to $5.6 million.

“However, city officials began looking at the project and what we could do to land larger planes at the airport. That would take an 11-inch thick runway, which would cost approximately $800,000 more than the 7-inch thick project. The city has agreed to fund $400,000 of the difference, and we’re picking up the other $400,000.”

And while the project certainly helps the marketability of the McMahon-Wrinkle Airpark and Big Spring Airport, Wegman stressed there are no guarantees with a project like this.

“There’s no crystal ball here. That’s important to remember,” said Wegman. “There are no guarantees what this will or will not do for Big Spring. However, opportunities like this don’t come along very often. The last time an upgrade was made to the runway was 1985, and it could be another 20 years before TxDOT has funds like these available.”

Wegman said the economic development corporation's portion of the project comes to $1.7 million, with the city of Big Spring agreeing to pick of the remainder of the tab.

Tuesday's meeting is expected to get under way at 5:15 p.m. in the Chamber of Commerce Board Room, located at 215 W. Third Street.

Contact Staff Writer Thomas Jenkins at 263-7331 ext. 232 or by e-mail at This e-mail address is being protected from spam bots, you need JavaScript enabled to view it