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Site Selection
Site Selection Tools and Resources including real estate, utilities, incentives, workforce data, planning, project structuring and finance, regulatory and other services to aid in the project development/ implementation phases of generating new wealth.
DEMOGRAPHICS
Galveston enjoys a daily diverse population. On any given day it DOUBLES due to its commuting workforce, college students, second homeowners and its healthy tourism population. While the Census shows a base population of 50,241 residents, when you include its other demographics, Galveston operates more like a city with an average daily population of nearly 100,000. The daily increase in the island's population come from the following:
• 50,241 base population
• 7.2 million visitors and tourists annually
• Approximately 24,000 commuting employees per day
• An estimated 70% of Galveston's West End housing is comprised of vacation and second homes
• Galveston Island hosts approximately 10,000 college students per year attending UTMB, Texas A&M Galveston, and Galveston College
EDUCATION
GISD serves just over 7,000 students on Galveston Island and Bolivar Peninsula and offers a tremendous amount of instructional opportunities at its campuses with magnet programs dotting the district and numerous certification programs that allow students to secure living wage jobs before or after graduation. Galveston Island serves an additional 1,500 students through Private Schools.
Unlike many cities its size, Galveston has the distinct advantage of serving as home to three higher level educational institutions:
• Texas A&M University at Galveston (TAMUG)
• The University of Texas Medical Branch at Galveston (UTMB)
With approximately 10,000 students, Galveston is indeed a college town. These institutions work collaboratively to translate their unique world-renown programs, faculty and students into the fabric of Galveston and beyond. Focusing on the education and training of our future workforce, benefits of these resources extend well beyond the borders of Galveston and Galveston County.
MAJOR EMPLOYERS
Source: Galveston Economic Development Partnership, 2019
Please note that the numbers above represent only the employees who work on Galveston Island
(i.e. this survey does not include total employment for each organization)
TAX RATES
* Galveston County Navigation District #1 only affects parts of Galveston.
No sales tax on groceries, prescription drugs or animal feed. No corporate or personal income tax.
Source: Galveston Central Appraisal District 2019
TRANSPORTATION
Airlines
Scholes International Airport at Galveston offers two 6,001' x 150' runways able to accommodate almost any aircraft, up to a Boeing 767. The 1,200-acre airport offers a first class airport terminal, a 24 hour fixed base operator, 24 hour weather services, a 24 hour ARFF station on the field, a U.S. Customs agent on call and state-of-the-art navigational aids and precision approaches providing allweather capabilities.
The Houston Airport System has three facilities; George Bush Intercontinental Airport, William P. Hobby Airport, and Ellington Airport. The three-airport system served more than 50 million passengers in 2008, including more than 7.9 million international travelers.
Rail
Port of Galveston Terminal Railway Operator is Galveston Railroad , LP, which provides rail connections to the Burlington Northern Santa Fe Railroad and the Union Pacific Railroad System.
Local
Galveston is the gateway of inter-modular transportation and possibilities for business and industrial development. Island Transit is the public transportation system serving Galveston, Texas. Click on the link for information regarding the bus, trolley and services for the disabled.
REAL ESTATE
As the Houston-Galveston region continues to grow, with projections that it will continue into the future, Galveston maintains an excellent quality of life and quality of place as a coastal destination, “small town” atmosphere with an abundance of natural resources.
OPPORTUNITY ZONE - GALVESTON
According to the IRS, an Opportunity Zone is an economically distressed community where new investments, under certain conditions, may be eligible for preferential tax treatment. Localities qualify as opportunity zones if they have been nominated for that designation by the state and that nomination has been certified by the Secretary of the U.S> Treasury via his delegation of authority o the Internal Revenue Service.
Opportunity Zones are designed to spur economic development by providing tax benefits to investors. First, investors can defer tax on any prior gains invested in a Qualified Opportunity Fund (QOF) until the earlier of the date on which the investment in a QOF is sold or exchanged, or December 31, 2026. If the QOF investment is held for longer than 5 years, there is a 10% exclusion of the deferred gain. If held for more than 7 years, the 10% becomes 15%. Second, if the investor holds the investment in the Opportunity Fund for at least ten years, the investor is eligible for an increase in basis of the QOF investment qual to its fair market value on the date that the QOF investment is sold or exchanged.
Galveston’s Opportunity Zone stretches along Seawall Boulevard from about 53rd Street all the way down to the east end of the island.
Investment Opportunities - Available Office Properties in Galveston
*Data sourced from Sand N Sea
AERIAL IMAGERY
Aerials
Galveston Island is located on the Texas Gulf Coast just 50 miles south of Houston. Click to download aerials below:
Videos
Enjoy these aerial videos of Galveston from past Developer’s Conferences: