Palestine, Texas (March 2024) – The Palestine Economic Development Corporation (Palestine EDC) announces the acquisition of 333 acres of land to be used for a rail-serviced industrial business park. The business park will be positioned adjacent to a Texas State Railroad Authority rail depot, allowing for easily accessible freight transit. The design phase of the rail infrastructure has begun, and the first phase of development, which will include 3,000 feet of rail, is anticipated to be completed by the end of 2025. Financing for the land acquisition was provided by Government Capital Corporation, Southlake, TX.
“This is Palestine EDC’s second time partnering with Government Capital, and we selected them for this project because of the excellent prior experience we had with them,” stated Christophe Trahan, Executive Director, Palestine EDC. “The team was very informative and knowledgeable throughout the financing process, and we’re grateful for their partnership in making this project a reality.”
“I would like to congratulate Christophe Trahan and the Palestine EDC on their land acquisition and applaud them for their work and foresight toward the growth and improvement of the City of Palestine,” stated Matt Sullivan, Municipal Finance Specialist, Government Capital Corporation. “Government Capital is proud to partner with Texas Economic Development Corporations to support and promote Texas communities.”
About Palestine Economic Development Corporation
The Palestine EDC operates as a Type B Texas economic development entity established under the Development Corporation Act of 1979. At present, the EDC relies on funding derived from a ¼ cent sales tax revenue. Palestine EDC’s mission is to promote and facilitate responsible commercial and industrial business retention and growth that expands, diversifies, and strengthens the local tax base while enhancing local amenities and destination attractions throughout the city of Palestine. To learn more about Palestine EDC, visit www.palestinetexas.net.
About Government Capital Corporation
Government Capital Corporation is a leading public finance firm providing professional financial services to all local governmental entities. Since its founding in 1992, the company and its affiliates have successfully completed thousands of municipal financings exceeding $6 billion in Texas and across the country. For more information, visit www.govcap.com