Multimillion dollar homes in Galveston

[PedroMartinez]

Originally Posted by Jack Lance

If Wall St. were as noxious as a refinery complex, They would definitely be better off doing just that.

I was mainly addresses the suggestion that tourist revenue would replace industry revenue.

On another note, industry needs workers and infrastructure. Petrochem plants also need water. "Chemical plants need vast amounts of water for cooling and cleaning." - Texas' Petrochemical Boom Fuels Hopes and Concerns | The Texas Tribune

[Jack Lance]

Originally Posted by PedroMartinez

I was mainly addresses the suggestion that tourist revenue would replace industry revenue.

On another note, industry needs workers and infrastructure. Petrochem plants also need water. "Chemical plants need vast amounts of water for cooling and cleaning." - Texas' Petrochemical Boom Fuels Hopes and Concerns | The Texas Tribune

In the short term Texas City would take a huge hit economically which is why it will not happen voluntarily. But that complex is so old, they may decide at some point to shut it down and build new or expand elsewhere. I also doubt that tourist money would ever be able to replace the entirety of what that complex produces, but like I said, they also have a port, that they voted to become part of the Port of Houston Authority. So recreation along with other industries, and port services, may be able to fill that void eventually. Also these plants are becoming so mechanized, the number of people they actually employ, is a fraction of what is was when those plants were first built. Therefor,it is the tax revenue that would be the most difficult to replace.

You can ask people in Bayou Vista or Tiki Island about the stench that can permeate the local air when the winds are just right or wrong. From the northern shore of Galveston you can actually see those refineries which doesn't help those developments even though they are still building. That area has the most tourist potential of any area in this metropolitan area, and if it is ever to be fully realized, that refinery complex will have to go

[Jack Lance]

CNBC featured a MILLION DOLLAR Galveston beach house on air today. It won one round then lost , but still on topic since this is about $1,000,000 properties in Galveston.




Million Dollar Homes: Galveston, Oh Galveston - CNBC