JEDCO approves Bealls

The Jasper Economic Development Corporation voted to provide Bealls Department Store the funding to come to Jasper.

Bealls Department Store provided a proposal to the prior JEDCO board and received a letter of intent from the board in return. Bealls Representatives stated that they have been working since 2020, on the opportunity to come to Jasper. The rep went on to talk about the importance of an anchor company like Bealls coming to Jasper. “Most companies look to expand in towns if there are established department stores” the rep said, referencing that shoe stores and other similar stores look for clothing stores before they move into an area.

Bealls needs $160,000 for renovation at the location formerly held by Stage in the Brookshire Brothers shopping center. The location has been vacant for a few years and has developed issues from the ceiling to the floor according to the representative.

Bealls estimates that a location in Jasper can expect 4 million in revenue annually, citing that Stage, the prior tenant, saw 3 million annually prior to 2020.  Bealls is looking to be active by Fall 2026, starting a 10-year initial agreement. Bealls reps stated that they will employ 18 employees at $15 per hour. Reps went on to say that Bealls is investing in Texas with their recent purchase of the former Stage Distribution Center in Jacksonville, Texas. One rep said, “Your town is very charming but suffering from vacancies.” According to one representative, Bealls will be making a $826,000 investment in the location if the request for $160,000 is approved. Bealls intends to bring Shoe Department to be housed next door. Shoe Department is part of Shoe Show based in North Carolina. They currently have over 1200 stores in 48 states.  

During discussion, Interim Executive Director Tom McClurg said that JEDCO is currently funded with Type A sales tax, meaning that JEDCO’s help was restricted to industrial companies and Bealls would not fall under that requirement. McClurg went on to say that there would need to be a public hearing and the item placed on the ballot. When questioned about those restrictions, McClurg stated, “We need to bring the Chamber and the City into this discussion.”

Interim Executive Director - Tom McClurg in discussion with Bealls

According to the state comptroller, JEDCO receives funding through a Type A sales tax, which is limited to manufacturing and industrial development. Type B sales revenue, on the other hand covers the same projects as Type A but allows for “quality of life” improvements: Parks, tourism, entertainment venues, convention centers, affordable housing, etc.

In the end, JEDCO approved the Bealls proposal pending the parties could come to a defined agreement. President Bill Grant said that this would also need to be presented to the Jasper City Council. Grant made it clear that the new board was “honoring the letter of intent” provided to Bealls by the prior JEDCO Board.

JEDCO President - Bill Grant

In other items, Grant stated that he reached out to attorney Michael Getz concerning the contract held between JEDCO and Jewel Bistro. Getz said that it was going to be difficult to recoup money, according to the contract. Grant stated, moving forward, JEDCO really needs to look at giving money to LLCs without assets. Grant said, they are trying to recoup a portion of the money through the selling of equipment left behind.

The board also voted on appointing Michael Getz as interim attorney for JEDCO.