Interview with Joey Grisham(Bonham Texas Economic Director)

Summary

In this video, Joey Grisham, the Director of Economic Development for Bonham, Texas, discusses the city's growth potential, highlighting land availability, strategic location, and progressive city council support for development. Grisham emphasizes the benefits of investing in Bonham, including affordable land prices, the impact of nearby Sherman's economic boom, and the city's infrastructure, such as its own airport and the new Lake Ralph Hall. The script also showcases the city's vibrant downtown, retail growth, and the importance of the local hospital and medical services, painting a picture of a thriving community with significant investment opportunities.

Takeaways

• 😀 Joey Grisham is the director of economic development for Bonham, Texas, and has been in the role for five months.
• 🏙️ Prior to Bonham, Joey worked in various cities in the Dallas-Fort Worth area, focusing on office, industrial, and downtown redevelopment projects.
• 🛣️ Bonham offers land availability on major highways, including US82 and Highway 121, which are key selling points for the city.
• 🏢 The city of Bonham is strategically located near Sherman, a booming economic development market, which could drive growth and attract residents.
• 🏘️ Bonham's land costs are more affordable compared to neighboring cities like Anna, Melissa, and Salina, making it an attractive option for businesses and developers.
• 🏭 Bonham has industrial areas suitable for manufacturing facilities, unlike some neighboring cities, providing opportunities for industrial development.
• 🏬 The city has a growing retail corridor along Highway 121, with national chains and service businesses showing interest in the area.
• 🏥 Medical services are a growing need in Bonham, with an aging population and the potential for more general practitioners and dental groups.
• 🏨 The development of new lakes in the area, including Lake Bottom and Lake Ralph Hall, is expected to increase tourism and related businesses like hotels and restaurants.
• 🏞️ Bonham's city council is described as progressive and open to zoning changes, making it a welcoming environment for new investments and developments.
• 💡 The script emphasizes that now is a good time to invest in Bonham due to reasonable land prices and the city's strategic location for future growth.

Q & A

What is Joey Grisham's role in the city of Bonham, Texas?

Joey Grisham is the Director of Economic Development for Bonham, Texas, and has been in this position for five months.

What is the significance of Bonham's location in relation to economic development?

Bonham's location is significant for economic development due to its proximity to major highways and its closeness to Sherman, which is a booming economic market, attracting potential businesses and residents.

What are some of the unique selling points for land in Bonham?

The unique selling points for land in Bonham include its availability, affordability compared to neighboring cities, and its strategic location on major highways.

How does the city of Bonham differentiate itself from other cities in terms of economic development?

Bonham differentiates itself by being more business-friendly, having a city council that is progressive and open to zoning changes, and offering land at a more affordable price.

What is the current status of industrial development in Bonham?

Bonham has two key areas for industrial development: one near the south side off Highway 121, which includes Clayton Homes, and another area north on Highway 82 by the airport, which includes companies like Tongren and Vector Systems.

What are some of the retail developments that have recently taken place in Bonham?

Recent retail developments in Bonham include new Starbucks locations, a Water Burger, and businesses like Little Caesar's Pizza, Jimmy John Subs, and Scooter's Coffee.

How does the presence of a hospital impact the community and economic development in Bonham?

The presence of a hospital, such as Texoma Medical Center, is important for the community's health needs and also contributes to economic development by attracting medical businesses and professionals to the area.

What is the significance of the new lakes being built near Bonham?

The new lakes, including Lake Ralph Hall and Lake Bonham, are significant as they bring in more people for recreational activities, which in turn supports the growth of restaurants, retail, and other businesses.

What does Joey Grisham suggest as the best time for investors to invest in Bonham?

Joey Grisham suggests that now is the best time for investors to invest in Bonham due to the current land prices and the city's progressive approach to growth and development.

What is the current state of the downtown area in Bonham?

The downtown area in Bonham is described as having a lot of structure, with a mix of historical buildings and new developments, including hotels like the Holiday Inn and various retail and service businesses.

How does the city of Bonham support the growth of businesses and the community?

The city of Bonham supports growth through various means, such as offering land at affordable prices, having a city council that is open to zoning changes, and providing infrastructure grants and economic development incentives.

Outlines

00:00

📈 Economic Development in Bonham, Texas

In this paragraph, Joey Grisham, the director of economic development for Bonham, Texas, introduces himself and outlines his professional background in economic development, particularly in the Dallas-Fort Worth area. Grisham emphasizes the city's land availability, strategic location, and the city council's progressive stance on growth and development as key factors for attracting investors. He also mentions the city's infrastructure projects, such as renovating older buildings and updating utilities, as well as the impact of nearby economic growth in Sherman, Texas, which is attracting new businesses and residents to Bonham.

05:01

🏭 Industrial and Retail Growth Opportunities in Bonham

This paragraph delves into the industrial and retail sectors of Bonham. Grisham highlights the city's industrial parks and mentions key industries such as mobile home manufacturing and outdoor television production. He also discusses the potential for industrial development around the city's airport. Retail growth is another focus, with Grisham noting the city's main retail corridor along Highway 121 and the recent addition of national chain stores. He anticipates further retail expansion, including more chain retailers and service businesses, driven by the city's growing population and the surrounding trade area.

10:04

🏞 The Impact of New Lakes and Developments on Bonham's Economy

In the final paragraph, Grisham discusses the economic impact of the new lakes being built in the region, particularly Lake Ralph Hall and Lake Bonham, which are expected to attract more visitors and residents to the area. He also touches on the city's water capacity and the potential for increased retail and service businesses to cater to the growing population. Grisham concludes by encouraging investment in Bonham, citing the city's strategic location, available land, and the city council's support for development as compelling reasons for investors to consider the city.

Keywords

💡Economic Development

Economic development refers to the process of improving the economic well-being of a community or region through various means, such as attracting new businesses, creating jobs, and improving infrastructure. In the video, Joey Grisham, the director of economic development for Bonham, Texas, discusses his role in facilitating this process, emphasizing the importance of land availability, infrastructure grants, and local incentives to attract investment and business growth.

💡Bonham, Texas

Bonham is a city in Texas and the main focus of the video. It is highlighted as a region with potential for economic growth and investment. The script mentions various aspects of Bonham, including its strategic location, land availability, and the presence of key industries, which make it an attractive area for business and real estate investment.

💡Land Availability

Land availability is a key factor in economic development, as it provides the space necessary for new businesses and housing. The script emphasizes Bonham's land availability as a major advantage, particularly in comparison to other cities where land may be more difficult to acquire or more expensive.

💡Highway Access

Proximity to major highways is crucial for business accessibility and economic growth. The script mentions US Highway 82 and Highway 121 as significant arteries running through or near Bonham, providing easy transportation links that are attractive to businesses and investors.

💡Sherman, Texas

Sherman is another city in Texas, approximately 30 minutes west of Bonham. It is mentioned as a booming economic development market, with major companies like Texas Instruments and Glob Tech creating thousands of jobs. The script suggests that Bonham could benefit from the spillover effect of this growth, as some employees may choose to live in Bonham due to its proximity and more affordable land costs.

💡Industrial Development

Industrial development involves the creation and expansion of manufacturing and industrial facilities. The script discusses Bonham's potential for industrial growth, with the presence of companies like Clayton Homes and Tongren, which manufacture mobile homes and outdoor TVs, respectively. This indicates a diverse industrial base that could attract further investment.

💡Retail Development

Retail development is a component of economic development that focuses on the growth of retail businesses. The script mentions several national chains and local businesses in Bonham, such as Walmart and Fix and Feed, as well as potential future retail developments, indicating a vibrant retail sector that contributes to the local economy.

💡Medical Services

The presence of medical services is an important aspect of community development, as it caters to the health needs of residents. The script notes the growing demand for medical services in Bonham, with an aging population and the potential for new medical facilities to be established, especially along the high-traffic Highway 121.

💡Investment Opportunities

Investment opportunities refer to areas or sectors where investors can put their capital to work with the expectation of profit. The script highlights Bonham as a city with numerous investment opportunities, particularly in real estate, retail, and industrial sectors, due to its strategic location, land availability, and ongoing development projects.

💡Quality of Life

Quality of life encompasses various factors that contribute to a community's overall well-being, including access to services, recreational opportunities, and a pleasant environment. The script discusses the improvements in Bonham's downtown area and the development of new lakes, such as Lake Bottom and Lake Ralph Hall, as efforts to enhance the quality of life for residents and attract new businesses and residents.

💡Progressive City Council

A progressive city council is one that is open to change and development, often implementing policies that encourage growth and modernization. The script praises Bonham's city council for being 'very progressive on growth and development,' indicating that they are supportive of new initiatives and open to different types of zoning, which is attractive to investors and developers.

Highlights

Introduction of Joey Grisham, the director of economic development for Bonham, Texas.

Joey Grisham's experience in economic development, including previous roles in the city of Anna and various positions in the DFW area.

Bonham's strategic location with land availability on major highways, making it an attractive business destination.

The influence of Sherman's economic boom on Bonham, with the potential for job growth and residential expansion.

Affordability of land in Bonham compared to neighboring cities, offering opportunities for investment.

The city's own airport, Jonesfield, as a potential area for future industrial growth.

Industrial areas in Bonham, including the presence of major companies like Clayton Homes and Tongren.

The retail corridor along Highway 121, with new developments and national chain interest.

The importance of the new lakes, including Lake Bonham and Lake Ralph Hall, for attracting tourism and residents.

The need for medical facilities in Bonham due to an aging population and growing demand.

The impact of the new Texoma Medical Center on the local healthcare landscape.

The city council's progressive stance on growth and development, making Bonham business-friendly.

The current occupancy rate of hotels in Bonham, indicating strong demand for accommodations.

The potential for retail strip centers and service businesses to cater to the growing population.

The city's water capacity, ensuring sustainable growth with multiple water sources.

Joey Grisham's final thoughts on why Bonham is an ideal investment opportunity due to its land availability and strategic location.

A visual tour of Bonham's downtown, showcasing its development and potential for further growth.

Transcripts

hey uh what's going on Joy so tell me

about yourself um what's your role in

the city of bonab great so hello I'm

Joey Grisham I'm the director of

economic development for bonam Texas um

I've been here now for five months um

prior to that I was in the city of Anna

uh which is just south about 30 minutes

on 121 and US

75 um prior to that in my previous 20

years in necon development most of

that's been in DFW I worked in the City

of Irving um where I did a lot of office

and um um office Industrial Development

uh I've worked in rette on the Eastern

side of the Metroplex on I30 U mostly

there was downtown Redevelopment a

mixture of uh what used to be known as

Bayside which is now Sapphire Bay uh

which is a large mixed use development

on Lake Ray hubard um my original first

job in Texas was in Grandberry on the

southwest side near Fort Worth and that

one was more uh downtown uh retail a lot

of retail development to work with HB to

get them there back in

2011 uh but I'm originally from

Mississippi um I got married in 2005 we

moved to Texas and um that's almost 20

years so um mostly been in Economic

Development part of that I was in the

private sector for uh Healthcare company

uh but really enjoy working in the local

setting and helping communities grow

awesome so you're at Texan now Joey

we're happy to bring you adopt you as a

Texan H yeah I am I I am I I would never

leave Texas I don't think Texas is is

very Pro business U you have unlike

other states you have Economic

Development sales tax so we have a

built-in mechanism to help with uh

Economic Development incentives uh

infrastructure grants uh as you drive

around the square here we have quite a

bit of activity in older building to

renovate them as you know those older

buildings need uh updates on things like

um um you know the SE lines are outdated

so we've been working on that uh grease

traps for restaurants is a is a big cost

and also for facades um excent so let me

ask you let's take it some one by one

some of the popular things our community

wants to know is why bonam yeah you know

why do you think an investor should come

in Bonham to get real estate to get

businesses to buy land why what do you

see in Bonham that makes it U unique at

this point it's a good question so first

and foremost I would say the land

availability um obviously Anna has land

Melissa has land but those cities are

very difficult um to do business with

right now um so just because you have

land doesn't mean you can get a deal

done in today's world as you know with

high interest rates increased cost so

the first thing we sell with bonom is is

one land availability on your major

highways so there are two two major

highways that really there's three but

four um that one used to be a lot larger

but us82 runs East and West that goes

all the way to Tarana East um West it

continues past Sherman um so you have

us82 is a four-lane road Highway 121 as

you know is four lane up to the Colin

county line just past Anna that last

piece between um the Anna area up to

us82 will be four lane in the next 5 6

years so you'll have multiple four-lane

thars um so I would say land on major

thars is a major deal also what's

driving growth is Sherman is 30 minutes

to the West Sherman is probably the

hottest Economic Development Market in

the country uh they landed Texas

instrument glob Tech that's over 5 to

6,000 jobs a lot of those people we

think some of them will live in a botom

being 30 minutes away it's a smaller

community of about 11,000 people uh it

is growing gr not growing as quickly as

an Anna a Melissa but that's not

necessarily a bad thing because it's

it's more manageable growth um also land

cost is more affordable than your Anna

than your Melissa and your Salina um

when I started in Anna you could find a

piece of dirt on us 75 for 35 to 40,000

an acre those same tracks today are

probably $200 to $250,000 an acre and in

bottom you can find the $25 $30,000 an

acre which which is for me is great

because we can sell that to DR Horton to

large groups now that you say Dron I

understand Dron is also um do the pilots

project yeah they have an 80 light

development they'll be developing on

this year okay and that'll be just off

us21 so also the city has its own

airport um so that's a future potential

for growth um so jonesfield used to be a

testing um airport back in World War II

um the city owns it so we have

industrial land around it so we have

opportunities for industrial activity in

Anna I did not have industrial land that

is the big difference in here if you

want to know the difference in Anna

versus a bana so what's an industrial so

industrial would be more for your

manufacturing facilities like like Texas

instrument um so there's two really key

areas for industrial right now in bonum

one would be on the south side when you

come in off

121 um there's a Industrial Park here in

this area probably the largest industry

there is Clayton Homes they manufacture

mobile homes and they they sell those

across the country most of those other

companies are small little manufacturing

that probably have anywhere from 100 to

200 jobs the second area would be North

on 82 by the airport you have some large

companies there probably the largest

would be tongren it is a company that

manufacturers tell or they make TVs uh

for Best Buy they're outdoor televisions

which is a big Market as you know many

people now choose to put their TVs

outside so they they strictly do outdoor

TVs reneta doors is a large company does

very large over oversized doors and then

you have a company called Vector systems

which does they do things like

galvanized steel metal fabrication so

those are kind of your two kind of key

areas on our way I could see a lot of

you know I saw hotels like u holay in

yep Super Walmart um and Cho Bell and

other big retail stores what are those

retail stores that you see might be

coming in the future yeah so you're

right 121 is your main retail Corridor

so that's the stretch kind of right here

so the newest development in terms of

retail would be there's a few Starbucks

right there off 82 fix and feed which is

a locally owned group that's very

similar to a Home Depot uh but it's it's

owned regionally um you also have a

brand new Water Burger um those are

probably your newest the next wave will

be just south of Sonic um you've got um

Little Caesar's piz Jimmy John Subs and

scooters coffee so those are your next

three there um um across the street

there's a Chicken Express that's looking

to build on a 6 and 1 half acre track

actually owned by the EDC and then going

back North around fix and feed we

understand there's several letters of

intent with groups like um I think HTO

is a New Concept that just serves te

obviously uh you have U yeah Brakes Plus

Panda Express so there's a lot of

interest in your National chains because

of the growth model um

it it's really you know 82 traffic is

the gravy on top but then you have your

core Market your core trade area there's

a lot of small towns outside of botom

honeyrove DOD City so a lot of those

people trade here and so retail is

obviously where they're they're coming

here for Walmart yes um you got two new

U gas stations there Murphy Express is

redoing their U which is Walmart's gas

station and then at the very top corner

here txb is a locally owned convenience

store group

and almost every convenience store in

bonum is owned by txp which is very

different for me I'm used to seeing your

quick trips U but there is a market for

your 7-Elevens a quick trip a racetrack

there are several sites that could work

for those type of Enterprises so the

growing need to me here is retail strip

centers um additional chain

retailers um service businesses

obviously um and I think medical will

also grow tell me about medic um at the

moment do we have hospitals there is a

hospital moving westbound or excuse me

eastbound on Highway 56 it's teoma

Medical Center owned by Texoma which is

you know there's a large one in I think

Dennison um Anna has just the er um

version of that so you have a smaller

hospital system here uh there's an aging

population here so obviously medical is

is a growing need um so I could see you

know any type of you know there's not

many General Practitioners here would be

one I mean you have some dental offices

but I could see some of the the dental

groups uh looking here but I think any

any medical user would be good and

probably be attracted to the 121 Market

it's the highest traffic count um

essentially in the city right there

other than us 82 what do you think about

the um at the moment right now the

impact of like budak League the largest

league and I know there's League bam to

what are the impacts of those in general

so it's been good so I meant to mention

you mentioned hotels so you essentially

have two relatively new hotels in the

last 3 four years um owned by the same G

well one he sold but he's buying back

holiday in has about a

73% occupancy rate which is pretty

strong and then Best Western is not

fully complete but um you're starting to

see a lot more traffic in there because

of the lake um one it's it's the bodart

lake is actually predominantly I think

it's a lot of bass fishermen are coming

out

you're also starting to see some housing

developments pop up around there um I

think last year they pre-o the first

Lots in 10 minutes U this is the first

Lake that's been been built in Texas

since

1980s late late 80s the second Lake

that's being built is actually south of

bonam in area called lonia so we'll have

two brand new lakes that one it's called

Lake Ralph Hall okay it's own it'll be

by the upper Trinity River District this

one is the north Texas Municipal Water

District this Lake here is

177,000 uh Acres this one here will be

about 9,000 and then Lake Bottom up here

is about 2 200 Acres so that's where the

water source is for the city the city

also ties into we also get bodart water

so we're very covered on water capacity

we're in good shape uh but back to your

question the lake has really brought a

lot of people it'll bring in more people

obviously for restaurants retail that's

why we want to continue to upgrade the

downtown and then get more retail

because that sales tax property tax it's

quality of life people want more things

um without having to drive to mckenny

Sherman awesome awesome and um in in

final ptin what do you say to my

community and investors that want to

invest what's your pattern why they

should invest in Bonham now I think now

one is back to what I said earlier the

land

availability um one thing I did mention

is the city council is very Progressive

on growth and development um a lot of

cities say they're Progressive but

they're not uh this council is hungry

and they're ready to be open on zoning

you know different types of zoning um I

certainly think you know given given the

amount of land given the kind of the

growth from Sherman I think bonam is in

a perfect situation to invest now uh we

all know that land prices are only going

to go up so to me it's now um while

there's still a you know while people

are still reasonable with land um it's

the perfect time thank you so much hey

folks thank you so much Joey you've

heard it from The Source these are the

leadership these are the people that are

making decisions on behalf of our city I

want to say thank you for being part of

our community and making good decision

for us thank you thank you so much

thanks everybody it's bam entering

downtown bam right now it's pretty big

city well loaded right now so it is a

well developed City right now City

downtown historically very very amazing

downtown folks R Co B now all right

driving around bham right

now city of

bham pretty nice city getting

into 121 I'm driving into the downtown

of bham right now towards Highway 121

you can see 56 and 78 here highways

and here's the downtown here you can see

a lot of structure here beautiful

downtown right now it's a big city it's

really really developing crazy right now

so I love B good

development strategic location and I

think it's a worthwh city to kind

of push some Investments Cloud around it

also I think it's a good opportunity see

Taco Bell nice downtown

really exciting opportunities everywhere

antique stores you can see here you can

see right beside me

also just um quite amazing amazing

development right now so it's a good

place to be some nice buildings

everywhere white um a pive out out this

is a beautiful building here well now

very

nice you can see R is here D stations

really good um down outfi but you can

see it's um Shaman

mckin see holiday in right here this is

the hotel Holiday in hotel right

now think that's pretty awesome that is

the all day in you can see it there that

pretty pretty cool quite impressive