GRAYSON COUNTY, Tex. -- This week, Grayson County leaders finalized a deal with private firm Black Knight Partners to help develop an economic strategy for the future.
County Judge Drue Bynum called it “an historic day for Grayson County.” A public-private partnership, which is very rarely entered into by Texas counties, will be created, Grayson and officials hope that the partnership will benefit both sides, as well as county residents.
The partnership between Black Knight and Grayson County was finalized on Tuesday but has been in the works for the past several months.
Officials say it could translate into new business coming to Grayson County, which could mean more jobs for Grayson County residents.
Judge Bynum says Black Knight was chosen unanimously by commissioners for the private partnership because it has the plan that will most benefit the county.
Texas Law states that counties are allowed to form economic development programs and appoint an administrator for that program.
Also included in the agreement is the creation of an economic advisory board, which includes representatives from the county, and Black Knight will oversee any decisions made by the partnership.
All ideas will have to be approved by the commissioner’s court or the council of the city which is being affected.
"It’s always been my belief that if you get the private sector to put their money in the ballgame, they’re going to help you achieve the goals quicker. We don’t have to go to the taxpayers and say, ‘We need more of your money’." Grayson County Judge Drue Bynum says.
Bynum says the economic advisory board will meet next week to discuss some upcoming issues including the development of the airport and the construction of a new jail.