Dumas, TX (April 2022) – The Dumas Economic Development Corporation (DEDC) announces an infrastructure project for their industrial park as well as the refunding of a current debt obligation. The infrastructure project, which includes water, sewer, and drainage system improvements, has begun and is anticipated to be completed by fall of 2023. The refunding of two prior obligations, for land acquisition and economic development purposes provided for significant interest savings. Financing for the improvement project and the debt refunding was provided by Government Capital Corporation, Southlake, Texas.
“We were faced with three large projects at once and Government Capital Corporation’s broad municipal finance expertise and knowledge allowed us to both cover the matching requirement to install the needed infrastructure and reduce our annual debt service,” commented Mike Running, Executive Director, Dumas EDC. “This allows us to focus on the increased business development activity we are experiencing.”
“I would like to congratulate Mr. Running and the Dumas EDC for their work and foresight,” stated Jennifer Draper, Municipal Finance Specialist, Government Capital Corporation. “This is a great example of dedicated leaders diligently assessing and proactively acting on the needs of and opportunities for their community.”
About Dumas EDC
Dumas Economic Development Corporation is located in Moore County and was formed in 1999 to serve as the lead economic development agency for the City of Dumas and its immediate area. The primary goal of the Dumas EDC is to promote planned, diversified growth and the creation of new jobs, while maintaining the area’s quality of life. To learn more visit www.dumasedc.org
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 has successfully completed thousands of municipal financings exceeding $5 billion in Texas and across the country. For more information, visit www.govcap.com