Innovation & Entrepreneurship
"I started my business in 1991 in my house. most of our customers send our candy as corporate gifts. we've shipped everywhere, including Dubai and even to a nuclear sub! now we've moved into a new complex in downtown midland that's our factory, our offices, one of our two stores, and a tourist attraction too."
- Susie Hitchcock-hall, owner Susie's south forty candy factory
In an increasingly knowledge based
economy, regions must create environments that foster innovation and promote
entrepreneurship to be competitive in the global economy.
The Permian Basin maintains critical innovation assets, including a concentration in Oil and Gas production (technology driven cluster) and the Texas Tech Health Science Center. Both of these regional assets create opportunities for patents, discovery, commercialization, and venture capital investment. In addition, the region is home to economic development agencies and colleges/universities that actively invest in entrepreneurship, providing the Permian Basin an opportunity to capitalize on the knowledge and talent of its citizens. |
Innovation Catalysts
In recent years, community leaders have made significant investments that promise to unlock innovation potential within the Permian Basin economy during the coming years.
The City of Pecos is home to the 5800-acre Pecos Research and Testing Center, a Center for applied research and testing for explosives, pavement, standard and specialty vehicles. While the facility, now operated by Applied Research Associates, Inc. (ARA), has been in operation for more than 45-years, in continues to be an important catalyst for innovation in the region.
Pecos Economic Development Corporation is focused on developing a Small Business Technology Center to assist existing businesses and offer the community a number of technology services (April 2010 Annual Report).
The Sul Ross Small Business Development Center in Alpine, Texas is a entrepreneurship and small business development asset for surrounding communities and their businesses.
The University of Texas Permian Basin Small Business Development Center provides counseling, technical assistance, training workshops, and reference resources for small businesses and entrepreneurs.
The City of Pecos is home to the Texas A&M Agricultural Research Center, a research and development asset for the region
The McCamey Economic Development Corporation, as a component of its downtown revitalization efforts, purchased and renovated a downtown commercial property to serve as a small business incubator. The incubator model provides low cost office space for small businesses, leveraging collective efforts of entrepreneurs in the community.
The University of Texas Permian Basin is home to the Center for Energy and Economic Diversification (CEED). The CEED is home to an economic diversification program, small business development center, and the petroleum industry alliance, programs designed to spur economic development within their focus area. Many of the technology innovations that impact the oil and gas industry, among others, originate from this Center.
The University of Texas Permian Basin (UTPB) continues to grow enrollments and program offerings locally. UTPB offers programs that spur innovation across the region’s target industries and hopes to build a new and 80,000 square-foot School of Engineering Building to accommodate growth of the school. UTPB also offers programs that promote entrepreneurship, including an entrepreneurship business minor.
The City of Pecos is home to the 5800-acre Pecos Research and Testing Center, a Center for applied research and testing for explosives, pavement, standard and specialty vehicles. While the facility, now operated by Applied Research Associates, Inc. (ARA), has been in operation for more than 45-years, in continues to be an important catalyst for innovation in the region.
Pecos Economic Development Corporation is focused on developing a Small Business Technology Center to assist existing businesses and offer the community a number of technology services (April 2010 Annual Report).
The Sul Ross Small Business Development Center in Alpine, Texas is a entrepreneurship and small business development asset for surrounding communities and their businesses.
The University of Texas Permian Basin Small Business Development Center provides counseling, technical assistance, training workshops, and reference resources for small businesses and entrepreneurs.
The City of Pecos is home to the Texas A&M Agricultural Research Center, a research and development asset for the region
The McCamey Economic Development Corporation, as a component of its downtown revitalization efforts, purchased and renovated a downtown commercial property to serve as a small business incubator. The incubator model provides low cost office space for small businesses, leveraging collective efforts of entrepreneurs in the community.
The University of Texas Permian Basin is home to the Center for Energy and Economic Diversification (CEED). The CEED is home to an economic diversification program, small business development center, and the petroleum industry alliance, programs designed to spur economic development within their focus area. Many of the technology innovations that impact the oil and gas industry, among others, originate from this Center.
The University of Texas Permian Basin (UTPB) continues to grow enrollments and program offerings locally. UTPB offers programs that spur innovation across the region’s target industries and hopes to build a new and 80,000 square-foot School of Engineering Building to accommodate growth of the school. UTPB also offers programs that promote entrepreneurship, including an entrepreneurship business minor.