Turkish Investors Exploring Investment Opportunities in Beaumont

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American Turkic Business Council DBA Texas Turkish American Chamber of Commerce and a group of Turkish origin investors took a trip to Beaumont, Texas. The trip provided opportunities for the investors to get information about what the Beaumont region offers and the next steps that need to be taken to assure its growth.

Beaumont offers a lot of opportunities and is experiencing growth in the petrochemical, shipbuilding, construction, healthcare, and many other sectors. The area not only houses big corporations like ExxonMobil, but also Lamar University. The stable growth of the economy due to the L&D refinery in the area is seen as a positive indicator for investors looking to build apartments, lofts, and hotels. The lack of corporate housing in the area provides investors an increased chance to build near downtown. With many historical sites and buildings, there are increased incentives and tax abatement opportunities from the government. With its tight niche community, Beaumont and its officials are dedicated to getting things done quickly. Beaumont is a place where residents can get more for their money. With lower costs compared to a city life, raising a family becomes much easier.

The trip started with a meeting hosted by Regina Lindsey, the President & CEO of Greater Beaumont Chamber of Commerce. Mrs. Regina provided an overview of the current state Beaumont economy is in along with the changes in cost and availability of living that is happening because of changes in petrochemical prices in the area. Our investors had the opportunity to hear about Beaumont’s future plans from Lenny Caballero, General Manager & Director of Event Facilities and Christopher Boone, Director of Planning and Community Development.

During lunch at the Beaumont Club, our members had the opportunity to learn more about SBA opportunities from Jessica Hill, VP of Economic Development at the Southeast Texas Economic Development Foundation. To learn more about the available areas for development, our investors sat down with Coldwell Banker Commercial Arnold and Associates, Sheri Arnold and Debbie Cowart. This session was followed by a meeting with Lamar University President Dr. Kenneth Evans.

Lamar University is experiencing growth in the number of students and has set a mission to increase in-resident student population on campus. Although growth is a positive opportunity, it does come with costs in regards to housing. Our investors had the chance to hear about possible future plans of expansion and the opportunities for development from President Evans. The meeting was followed by a trip to the dormitories, led by Norman Bellard, Assistant to the President, to experience first-hand the type of housing that is being offered to students.

Overall, for businessmen looking for project and investment opportunities in various areas, this trip became a very productive one. Especially for investors who are interested in real-estate, residential development, and hospitality, the trip was enough to show the need for these types of projects in the Beaumont area. The networks and relationships established throughout the trip has allowed the start of communication regarding the next step in the process. As American Turkic Business Council & Texas Turkish American Chamber of Commerce, we are certain that trips like these will end with fruitful results.

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