The Guadalupe Valley Electric Cooperative has completed the sale of a 159-acre tract of land planned to be the future location of a $400 million international investment within its electric service territory in the South Central Texas region.
In late July, Aisin AW, a Japan-based Fortune 500 company and global manufacturer of automotive transmissions and other products, announced plans to acquire the property and establish its second U.S. facility at the 159-acre site, located off IH-10 West and Santa Clara Road in Cibolo. AW Texas, a subsidiary of Aisin AW, will invest $400 million in a state-of-the-art transmission manufacturing facility. The project is expected to create over 900 jobs for the region. Through the local teamwork of Guadalupe County, the city of Cibolo and GVEC, as well as support from the San Antonio Economic Development Foundation, Governor Greg Abbott’s office and other state agencies, one of the largest economic development prospects in the cooperative’s history to date is set to move forward with construction in the upcoming months.
GVEC Board President Lewis Borgfeld siad the acreage was acquired in 2013 by the Guadalupe Valley Development Corporation (GVDC), a subsidiary of GVEC.
“Throughout its history, GVEC has taken an active role in developing the economic base of its service territory. This philosophy has not only served GVEC well by creating additional electric load, it has also been beneficial to the communities we serve by adding additional tax base and employment opportunities,” Borgfeld said. “The Cooperative has a long-term vision for the area along Interstate 10 in Cibolo to become a major commercial and industrial corridor. While the location was ideal, the lack of water, wastewater, gas and telecommunications infrastructure was holding the region back from positive economic growth.”
Knowing the lack of utility infrastructure would be a challenge, GVEC set out to fulfill its vision of opening the door to new opportunities along the IH-10 corridor due to the benefits their members and the surrounding communities would gain.
“After careful consideration, the GVDC purchased the land believing that attracting the right type of business would encourage the expansion of the utility services. As a major supplier to Toyota San Antonio, the site was a great fit for Aisin AW,” Darren Schauer, GVEC CEO and General Manager said.
Understanding the substantial economic impact a prospect such as this would offer the entire region, GVEC led a coordinated effort to bring utility providers, community and state leaders together to meet Aisin’s needs. With the infrastructure now available, the foundation is set for what the cooperative believes will be unprecedented interest and future growth in this area.
Schauer says this milestone project is a result of foresight, teamwork and taking an active role in economic development.
“Whether we are acting as sellers, developers, or supporting our local leaders and organizations with their own initiatives, GVEC will remain invested in bettering the quality of life for the people and communities of the Guadalupe Valley.”