In an effort to promote additional economic development, enhance the local tax base, and create new jobs, the East Montgomery County Improvement District will be among the more than 1,000 public officials and 35,000 retail real estate professionals who travel to Las Vegas the week of May 18 to attend RECon,the global convention sponsored by the International Council of Shopping Centers (ICSC).
The three-day event features educational sessions on retail and economic development issues, more than one million square-feet of exhibiting space which includes the Leasing Mall, showcasing leading retailers, developers, leasing agents, brokers, and public sector professionals; the Marketplace Mall, featuring product and service providers; and SPREE, featuring the cart, kiosk, and specialty retail sector. ICSC estimates that approximately 50 percent of all industry deals are conceived of or consummated at RECon.
"Our efforts at RECon in the past have yielded companies such as Taco Cabana, Pollo Tropical, Brewingz, large box retailers and newer restaurant concepts not currently in the District," said Frank McCrady, EMCID President and CEO.
EMCID's booth will feature information about its attractive financial incentives, retail opportunities within the District, low cost of living, and demographic information. During the convention, McCrady and the Board will highlight current projects like the Valley Ranch Town Center, Village at Northpark shopping center and the Grand Texas Sports & Entertainment District. They alsoplan tomeet with local developers, such as The Signorelli Company, and retail outlet managers.
"ICSC's RECon is a highly intensive meeting which focuses on discussing and creating retail real estate opportunities throughout the world," noted ICSC President and CEO Michael P. Kercheval. "For some, the convention is the only opportunity they have to meet and showcase their communities to developers, owners and retailers in a cost-effective manner."
Shopping centers generate more than $2.5 trillion in retail sales annually in the U.S. and raise nearly $145 billion in sales tax revenue for state and local governments. In 2014, shopping centers generated $236.5 billion in sales and $14.8 billion in taxes for Texas. Regional data, broken down by U.S. congressional districts, shows District 8, which includes EMCID, brought in $6.2 billion in shopping center-related retail sales and $380 million in tax revenue in 2014.
For additional U.S. and state retail figures, visit www.icsc.org.