June 2013
| Business World Magazine | 133
Success is said to breed success. In this
instance, the EDC developed another 100
acres of land at a site located just across the
street from the new Caterpillar facility. This
site will soon serve as home to a new division
of Ken Garner Manufacturing, a Tennessee-
based enterprise recognized as the leading
industry producer of counterweights crucial
in the manufacturing of heavy duty equip-
ment – particularly, the excavators produced
by Caterpillar.
BENEFITS FOR BUSINESS
Beyond setting aside land, the Victoria EDC
helped spur other incentives which not only
posed a benefit for new business operations,
but also benefitted businesses already exist-
ing in the community. For example, the com-
munity already had what were known as en-
terprise zones. For businesses that operate in
such zones, there are certain tax benefits and
allowances which provide fast-track permit-
ting. Expanding on that line of incentive, the
Caterpillar site has been deemed as a Foreign
Trade Zone (FTZ 155) which accommo-
dates similar benefits. The Caterpillar site is
also located only 12 miles from the Port of
Victoria, a facility that is utilized by barges
Entrance to Victoria’s Lone Tree Business Center
