March 25, 2015

The Port Arthur Economic Development Corporation is celebrating the Renovation of a Port Arthur Icon and the completion of their new office space.

Port Arthur, Texas— The restoration of the Historic First National Bank Building in downtown Port Arthur is complete.  A grand opening celebration and Open House has been scheduled for March 25th, 2015.  The open house will take place from 4:00 P.M. to 6:00 P.M. at 501 Procter Street.

The building was originally home to the First National Bank when it was originally built circa 1930. The building has undergone significant restoration and has been converted to office space for the Port Arthur Economic Development Corporation (PAEDC) and the Greater Port Arthur Chamber of Commerce with additional lease space available.

National Development Council (NDC), in partnership with PAEDC, used New Markets Tax Credits to help finance the redesign of the 19,500 sq. ft. three story building as a modern office space.  NDC’s $5.5 million Qualified Equity Investment in the $5.5 million project was combined with financing from Chase Bank, resulting in the creation and retention totaling 30 construction jobs and 20 permanent jobs.

 

More about PAEDC

The Port Arthur Economic Development Corporation is a 4a sales tax corporation created to enhance Port Arthur’s business climate and overall economic development. The PAEDC is responsible for encouraging and developing business growth and attracting new business to Port Arthur.

 

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Contact:

Floyd Batiste, Chief Executive Officer

info@paedc.org

(409) 963-0579

501 Procter St., Ste. 100

Port Arthur, TX 77640