TEDA earns praise for Weatherford Gemoco save

Skip Smart, Louisiana Economic Development’s director of community development, had good things to say about the Terrebonne Economic Development Authority’s efforts to keep Weatherford Gemoco in Houma from moving its operation to Texas.

Smart attended the Wednesday afternoon meeting of the Terrebonne Economic Development Foundation. TEDFo is the non-profit arm of the partly-private TEDA.

TEDA’s initiative was “really visible at the state level,” Smart said. “There’s contagious enthusiasm. You’re to be commended.”

Gemoco is constructing a $45 million production facility in north Terrebonne Parish to replace its current main plant on Industrial Dr. in Houma. TEDA discovered that Gemoco was considering a move to Texas in March 2006.

Pat Seely, Gemoco general manager, and George Ribble, the company’s director of cement manufacturing, talked to the TEDFo board before the meeting.

Smart thanked them for keeping Gemoco in Louisiana.

Seely said, “We have not kept anything from our employees. We shared with our employees what our plans are.

“We had a lot of pressure,” he said. “Why Houma? I was born and raised in south Louisiana. The knowledge base we have here is phenomenal. It’s the people.”

TEDFo board member Don Hingle said, “George and Pat are an active part of our community. They put their money where their mouth is.”

TEDA staff member Katherine Gilbert, who was applauded by the TEDA board at its meeting earlier in the day for her work keeping Gemoco in Terrebonne Parish, joked that “the deal was cemented here,” referring to Gemoco’s principal role as a maker of cementation equipment.

The TEDFo board applauded Seely and Ribble.

Smart said, “The best thing is the vibe coming out of your community. This is where it happens.”

During the meeting, TEDA CEO Mike Ferdinand discussed the possibility of Terrebonne Parish forming Community Development Districts to assist residential and commercial developers.

The district would issue bonds to finance water and sewer services, and recreational amenities.

The district could “help private developers have access to municipal bond rates,” he said. “It’s a cheap way to finance infrastructure. Land is put up as collateral.”

Ferdinand also talked about bringing railroad lines into Terrebonne Parish, “if we can increase demand,” he said.

“There’s a need to expand rail back into the parish,” he said, but “it can’t come back the way it originally came into the parish.”

Hingle said, “We need to keep trying. It’s huge.”

TEDA Marketing and Recruitment Director Michelle Edwards suggested that a push to bring in railroad lines should be more of a regional effort.