Business

Historically, the Odessa/Ector County area’s fortunes have followed those of the oil and gas industry. For example, between 1973 and 1981, the price of oil rose well over 1,000 percent. Correspondingly, in 1976 alone, the total real output from all sectors in Ector County rose an unprecedented 17.5 percent. Employment rose 88.8 percent in the Odessa/Midland MSA between 1972 and 1982.

Currently, the area’s economic situation has many positive aspects. Diversification efforts are underway, although ties to the energy sector remain very strong.

Since 1998, the Economic Development sales tax and aggressive marketing strategies have created over 2,500 new jobs with an added capital investment of over $620 million into our community.

The Texas Family Dollar Distribution Center is the centerpiece in the Odessa Business Park. In 2004, it was joined by Telvista Telecommunication, an international customer contact center, where another 700 jobs contribute to our economic diversification.

In Spring 2007, Navasota Energy’s Odessa power plant, Quail Run Energy, test-fired the first 275mw gas-fired power plant and began construction on the second phase 275mw. This $200 million will employ 14 highly skilled employees. This new facility has been designed to use state of the art emissions control technology and it meets or exceeds all state and federal regulations for a plant of this type.

Coca-Cola Enterprises completed construction on a new $3 million regional distribution center. This project will retain over 70 existing jobs and create around 12 new jobs.

With Odessa Ector Power Partners 1,000 megawatt power generating plant, Odessa’s diversification is on the rise. This state-of-the-art natural gas fired electric generating plant opened in September 2001 and provides safe, reliable and cost-effective energy. The additional electrical power produced by this Odessa plant will help ensure available power in the future for further economic diversification.

Manufacturing and industrial services comprise a vital segment of the community’s economic situation, with over 500 manufacturers in the area and a heavy concentration of machine shop services. With more export opportunities available companies are finding it very profitable to extend their markets overseas, using Odessa as their base of operations.