EDC accepts letter of intent for property in The Narrows

By LYNETTE SOWELL

Cove Leader-Press

After an executive session on Thursday, the Copperas Cove Economic Development Corporation accepted a letter of intent from CDL Research and Development Group, LLC to purchase approximately 6.3 acres in The Narrows Business and Industrial Park. CDL Research and Development Group is just one of six companies who have showed strong interest in locating in The Narrows, and is the first to present the CCEDC with a letter of intent.

The company operates commercial truck driver training schools and has selected Copperas Cove as a place they'd like to open a location. Monica MacKay, director of business development for the CCEDC, cited the foreseen benefits to the city.

“This is a great project, a great company,” MacKay said. “This will benefit soldiers coming out of Fort Hood and will also put 'heads in beds.'” Once the facility is operational, student commercial truck drivers will stay in Copperas Cove hotels during their 23- to 25-day training course, with 16-student driving classes starting every two weeks.

MacKay said CDL Research and Development Group projects as many as 340 students during the first year of operation, with 600-800 students per year thereafter.In addition to the city receiving more hotel occupancy tax dollars, the city and county stands to receive more property taxes in the future.

However, there is still a way to go before the first shovels of dirt can be turned on the property.

“From here, staff continues negotiating the performance agreement, which will spell out what they promise us—to construct the facility, provide a certain number of jobs and a payroll level, in exchange for what they will receive from us,” MacKay said. “We will also establish a timeline for purchase, construction and opening of the business.”