DT # 562 Exploring Odessa, Texas: A Hub of Economic Development - Tom Manskey

Summary In this episode of Develop This, Dennis Fraise speaks with Tom Manskey, the Director of Economic Development for the Odessa Development Corporation. They discuss the unique economic landscape of Odessa, Texas, especially its reliance on the oil and gas industry, the importance of diversifying the economy, and the emerging focus on green energy initiatives. Tom shares insights into the growth of the healthcare and education sectors, the community's quality of life, and the challenges and opportunities presented by the current economic conditions. The conversation highlights Odessa's potential for future growth and development. Takeaways Odessa is a significant player in the oil and gas industry, contributing 40% of the U.S. output. Economic diversification is crucial for Odessa's long-term sustainability. The Permian Basin has a rich history and a promising future in energy production. Green energy initiatives are gaining traction in Texas, complementing traditional energy sources. A major direct air carbon capture facility is being developed in Odessa. The healthcare and education sectors are growing rapidly in the region. Quality of life improvements are essential for attracting new residents and businesses. Workforce development is a priority to meet the needs of local employers. Odessa's community spirit and work ethic are key assets for economic development. The future of Odessa looks bright with ongoing projects and investments.