BUSINESS REPORT

New residents continue to move to Georgetown every day and become members of our community. Our town has been one of the top10 fastest-growing cities in the country for the past six years in a row. Since 2010, our population has increased more than 68 percent. Related to this growth in new residents, Georgetown is currently experiencing a significant increase in retail and commercial development. These projects add jobs to our local economy and attract investment that strengthens the tax base for our schools and local government services. Several significant commercial projects that fit into our overall economic development strategy are currently under construction or have recently opened. These include office, mixed-use, industrial, and retail developments.

Why are so many people moving here? There are many reasons—our safe neighborhoods, top-notch parks, award-winning library, and the Most Beautiful Town Square in Texas. All of this contributes to an authentic sense-of-place that makes Georgetown feel like home. Given the key role that commercial development plays in our local economy, the City of Georgetown remains focused on expanding employment opportunities, while preparing for the growth that we know will come. Our community wants the city to grow in a strategic way, while retaining its character and “small town charm.”

Office and Professional Services

Sedro Crossing, a 170,000-squarefoot professional medical and office development, broke ground in March 2019 on Williams Drive. This represents the largest office project in Georgetown to date and helps fill the need for more space for healthcare and professional services in Georgetown. Sedro Crossing will open in phases throughout 2021.

Ascension Seton announced they have purchased land and will build a medical office building on the 164-acre master planned mixed-use community, Wolf Lakes Village. The 40,000- to 60,000-square-foot medical office building will encompass a wide range of specialties and services including orthopedics and full outpatient imaging services—x-ray, CT, MRI, ultrasound, mammography, and bone density testing—with more specialties expected in the future.

Industrial and Commercial

NorthPark35, a 146-acre Class A industrial development at I-35 and SH130, broke ground in November 2020. Phase one of the project includes two buildings totaling more than 330,000 square feet, as well as the extension of Aviation Drive to intersect with SH-130 and I-35. One building will be partially occupied by Georgetown-based Texas Speed and Performance, while the remaining space will be available for future industrial users. The park is designed and master-planned to accommodate users in need of 70,000–550,000 square feet of space. Phase one of the project is expected to be completed in spring 2021, and will be Georgetown’s first masterplanned industrial business park.

Champion Site Prep, a company which preforms site development and excavation services for schools, commercial retail, office buildings, hospitals, subdivisions, and commercial site development, returns to Georgetown. The company plans to invest more than $17 million in an 18-acre headquarters facility, opening in 2021.

Retail and Downtown

Costco announced a new location in late 2019. It is anticipated to attract shoppers from northern communities outside of the Austin metro region since there is currently no other Costco store between Georgetown and the Dallas metro area. Additionally, it will be the only Costco located on Interstate 35 in the region.

Georgetown’s newest retail development, Wolf Crossing began opening in Q4 2019. Over the course of 2020, businesses such as St. David’s CareNow, P. Terry’s, Willie’s Grill & Ice House, First Watch, The Yard, Jason’s Deli, and Olive Garden have successfully opened with several additional businesses scheduled to open in 2021. When complete, the $200 million, 250,000-square-foot retail center will feature restaurants, medical facilities, a hotel, and a grocery store—all identified as targets in the City’s 2016 economic development retail analysis.

Even with immense growth, we haven’t forgotten what makes Georgetown unique—our historic downtown. The most beautiful town square in Texas has experienced incredible reinvestment. In fact, in the middle of a worldwide pandemic, we had over $3.5 million dollars in private commercial development in downtown.

New shops, restaurants, bars, offices and apartments all opened in 2020— with even more slated for 2021. The increase in unique consumer experiences has truly created a livework-play atmosphere for every age.

The City Council’s vision for Georgetown—a caring community honoring our past and innovating for the future—is apparent in many ways across the city. From major infrastructure investments in projects like the Southwest Bypass, to the public art in downtown, we are a city committed to retaining our character while paving the way for opportunity.