Grow Odessa FAQs
How do you become a member of Grow Odessa/OIDC?
By purchasing stock at $100.00 per share, with a minimum of 10 shares.
What is the purpose of Grow Odessa (GO)?
To acquire and hold land to offer as incentives for industrial development.
How much do Board members get paid?
Nothing, GO is a nonprofit volunteer organization.
What are the stock dividends?
Dividends are never paid out to stockholders.
Is Grow Odessa subject to the open meetings act?
No, it is a private non-profit corporation.
When was Grow Odessa started?
Grow Odessa was incorporated in 1966.
Who started Grow Odessa?
A group of private businessmen desirous of improving the community.
Winston Barclay, A.K. Barlow, Urbane Childers, William Deaderick, Gayle Dishong, Balie L. Griffith, Derrell Henry, James Key, John Late , Jr., J.M. McCleskey, J.E. Perkins, Charles B. Perry, J.L. Rhoades, Louis Rochester, Ernest Schur
Doesn’t Grow Odessa compete with private developers?
To a degree it does, but it tries primarily to fill a void in the market place. GO does give incentives to industry.
What is the Grow Odessa mission statement?
We are a nonprofit organization dedicated to Odessa's economic development growth.
Who is the staff? How much are they paid?
GO is an all volunteer organization and pays nothing for staff services.
What is the benefit of being a stockholder?
Giving back to Odessa and supporting community growth. Job creation and bigger tax base helps all Odessans.
How many members or stockholders are there?
Currently GO has over 150 stockholders.
What other contributions does GO make to the community?
GO makes annual donations to both Odessa College and UTPB for scholarships. They have donated to UTPB’s Wagner Noel Performing Arts Center. They have purchased equipment for vocational and technical programs and job training. They have assisted with City infrastructure development and other requests to help the city grow.
What are membership requirements?
A desire to improve and grow Odessa.
Does GO ever make money on a land transaction?
Yes, GO has to make money to further the future development of land and give incentives when necessary. 100% of proceeds stay within the organization to perpetuate its mission.
What is the relationship between Grow Odessa and the Odessa Development Corporation (ODC)?
There is no formal relationship. GO did support the sales tax campaign that funds the ODC. GO frequently coordinates incentives to industrial locations with ODC, City of Odessa and Ector County.