The Stephenville Economic Development Authority board met Thursday to address several important items including selecting the group’s logo and holding a public hearing on an economic development grant request by Twisted J Apparel for $61,000 to buy a six-head embroidery machine.
The logo has the same script typeface as is used by the city of Stephenville, and a star in place of the X in TEXAS as does the city logo.
SEDA then opened a public hearing on Twisted J's request.
So why would SEDA be interested?
SEDA Executive Director John Hubbard said, “Our interest is in the creation of jobs out there and the economic impact. They hired four people last week and when they get the embroidery machine, they will hire four more.”
Hubbard said the public hearing required no action Thursday.
"If we were to decide to approve the economic development grant or a portion of it, we couldn’t disperse the funds for 60 days after the notice is published in the paper, which I believe is (Thursday),” Hubbard said. “A public hearing is also required so this just starts the clock ticking. We could act on the Twisted J request at any time, but assuming we approve the funds being requested or a portion thereof, we couldn’t hand that over to Twisted J until that 60 days has elapsed.”
Another important agenda item was approved as well, that of applying to the Secretary of State for the assumed name, "Stephenville Economic Development Authority."
SEDA is still putting legal, banking and procedural items in place having been formed less than a year ago. That proposal was approved.