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Irving Chamber Of Commerce December Update

DALLAS BUSINESS JOURNAL RECOGNIZES SEVERAL IRVING BUSINESSES.  One of the largest public relations companies in the Metroplex is Cooksey Communications.  One of the largest advertising firms in the Metroplex is Numantra, who is updating the Chamber’s website set for unveiling before year-end.  Irving-based Archon Group, the financial asset and property management subsidiary of Goldman Sachs, was recognized as the Large Company philanthropist for its generous support of CASA.  Conley Group, and architecture and engineering consulting firm, was recognized as the Small Company philanthropist for its generosity to Operation Support the Troops. The Jenisis Group was recognized as one of the largest foundations in the Metroplex.  The University of Dallas and Chamber-member Metrocare ServicesIrving Healthcare FoundationExxonMobil, Verizon Communications, Kimberly-Clark and Ace Cash Express. were recognized as two of the largest non-profits in the Metroplex.   was recognized for its TexasFest being one of the largest fundraising events in the Metroplex.  The largest corporate philanthropists included the following Irving-based companies: 

PEGGY MASTERS DAY IN IRVING.  Peggy Masters, Vice President and Branch Manager of the Comerica Bank on Irving Boulevard and former Chairwoman of the Greater Irving-Las Colinas Chamber of Commerce, has announced her retirement after 19 years serving Irving businesses and residents of Irving.  Mayor Herbert Gears took the opportunity of the Bank’s annual Customer Appreciation Day to recognize Masters with a proclamation and making December 17, 2008 Peggy Masters Day in Irving.  Kem Grant, the former branch manager with Comerica at its Belt Line Road/State Highway 161 location, will be replacing Masters as the new branch manager in the Heritage District. 

KIMBERLY-CLARK NAMES VP.  Laura Moore has been named to the position of Vice President Global Communications by Kimberly-Clark, one of four Fortune 500 companies with global headquarters in Irving.  More than 35 other Fortune 500 companies have a presence in the city.

IRVING EMPLOYMENT INCREASES, UNEMPLOYMENT RISES.  Although the number of citizens employed increased slightly in November, Irving’s unemployment rate rose to 5.4% due to an increase in the population base.  There are currently 6,086 unemployed in the city.  The State unemployment rate is 5.7% and the national rate is 6.7%.

FEDERAL RESERVE CUTS RATES.  The Federal Reserve Board (FRB) moved this week to decrease the Federal Funds Rate to a record low "target range" of 0 percent to 0.25 percent from its previous 1.0 percent rate. This is the lowest Federal Funds Rate ever. The Federal Funds Rate is the rate charged on overnight loans between banks. The FRB also reduced the Discount Rate—the rate charged on loans from the FRB to banks—to 0.5 percent from 1.25 percent. The Federal Open Market Committee's (FOMC) statement said it would keep rates at these levels "for some time." Commercial banks reduced their Prime Rate to 3.25 percent from 4.0 percent.

ECONOMIC DEVELOPMENT ADVISORY COUNCIL MET.  ExxonMobil hosted the bi-monthly meeting of the Economic Development Advisory Council, a volunteer advisory board of community business leaders who oversee the economic development activity of the Chamber.  The Irving Economic Development Partnership presented an update on goals including business retention, business recruitment and private investment into economic development.  The Work Force Enrichment, Residential Real Estate and Corridor Improvement subcommittees of the Council presented updates on accomplishments and planned actions for the coming year.  The Council also received a report prepared by Dr. Terry Clower of the University of North Texas that the largest industries in Irving are:  (1) Finance and Insurance, (2) Administrative, (3) Professional and Technical Services, (4) Retail Trade, (5) Wholesale Trade, (6) Hospitality and Food Services, (7) Information, (8) Government, (9) Healthcare and (10) Manufacturing. 

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