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August 24, 2021

The End Of This Economic Development Incentive Could Hurt Texas’ Pipeline Of Projects

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An economic development incentive popular with energy firms in Texas is slated to expire at the end of 2022, prompting fears the state could start losing out on large-scale manufacturing projects.

Proponents of the program known as Chapter 313 say its tax breaks generate more investment and jobs in Texas. And though critics argue it comes at a high cost to taxpayers, benefits just a few and might be unnecessary, the approaching expiration of the program is causing considerable anxiety in the economic development community.

The End Of This Economic Development Incentive Could Hurt Texas’ Pipeline Of Projects

“We are already seeing corporate representatives of some of the largest projects express concern about the ability to move forward with their project based on the uncertainty of this incentive’s future,” Greater Houston Partnership Chief Economic Development Officer Susan Davenport told Bisnow.The Texas Economic Development Act, also known as Chapter…

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Houston’s Montgomery County Still Has Room To Grow, But Affordability Is Key

Houston’s Montgomery County Still Has Room To Grow, But Affordability Is Key

Montgomery County’s popularity has been soaring over the past decade. Located 40 miles north of Downtown Houston, the county had 620,443 residents in 2020, according to last year’s census — a population increase of 36.1% from 2010, making it…

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Origin Stories: Simmi Jaggi On Having Grit – And A Parent As A Cheerleader

This series delves into the myriad ways people enter the commercial real estate industry and what contributes to their success.

Like many people, Simmi Jaggi initially went to college to study finance. But it didn’t take her long to figure out that accounting wasn’t her passion. Another career path caught her eye, one that promised both opportunities and flexibility: commercial real estate. 

At the age of 18, Jaggi decided to get her real estate license while completing her college degree. She credits her father as her life mentor and the person who helped set her on the path to becoming a heavy-hitting CRE player.

“When I told him at 18 years old that I had an interest in commercial real estate, he told me I can do whatever I set my mind to and choose to do. So, I did exactly that and received my real estate brokerage license,” Jaggi said.

Fast-forward to the present day, and Jaggi leads JLL’s Land Advisory Services division in Houston. Since joining the firm in 2014, she has built a team that specializes in land dispositions and acquisitions. Prior to JLL, Jaggi spent 22 years at CBRE, where she closed more than $650M in sales throughout the greater Houston area. 

After more than three decades in the commercial real estate business, Jaggi said things have changed over time. The industry has become less male-dominated, technology has evolved significantly and client expectations have become more sophisticated. 

The qualities of a successful broker haven’t changed, however. There’s still the need to work hard, be proactive, take rejection in stride, know the data and maintain resolve.

“You must have the grit to do anything and everything to get your hands on a deal,” Jaggi said.

Origin Stories: Simmi Jaggi On Having Grit – And A Parent As A Cheerleader

Bisnow: How did you get introduced to CRE?Jaggi: When I was 18 years old, I developed an interest in real estate because I saw you have the freedom to define your own career and that was very attractive to me. At that age, I received my real estate license, allowing…

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Census Shows U.S. Housing Crisis Is Worsening As The Search For Fixes Grows More Desperate

The latest national proposal to take a crack at the nation's affordable housing problem came last week in the form of a bill introduced in the Senate optimistically called the Decent, Affordable, Safe Housing for All Act.

It is the latest in a long string of bills, passed and never passed, to address the problem.

The almost simultaneous release of the 2020 U.S. census data doesn't show the full scope of the housing affordability crisis, but it does point to demographic and housing trends of the 2010s that will make providing affordable housing — or housing at all, for some parts of the country — a taller order than ever. 

Yet the slog to find answers to the problem at all levels of government and in the private sector will continue, simply because the problem is too serious to ignore, and it is affecting other parts of the economy.

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