When it comes to clean energy and economic revitalization, it’s not just major metros leading the charge anymore. A quiet transformation is underway in America’s mid-sized and rural communities — one powered in-part by Commercial Property Assessed Clean Energy (C-PACE).
Long viewed as a resource for large urban centers, C-PACE is now finding fertile ground in smaller markets. The reason? Its ability to unlock capital for building improvements and sustainable infrastructure — without burdening public budgets — is exactly what many secondary cities need to drive smart, long-term growth.
Case in Point: Wichita Falls, Texas
Take Wichita Falls, a North Texas city with a population of just under 105,000. In 2024, Lone Star PACE facilitated a $13.4 million C-PACE assessment to support the development of a 500,000-square-foot natural fiber processing plant by Panda Biotech. The project, which includes upgrades to the building envelope, HVAC, lighting, plumbing, and water systems, is poised to make a considerable economic and environmental impact.
Capable of processing 22,000 pounds of hemp fiber per hour, the Panda Biotech facility will be the second largest of its kind in the world and the largest in the Western Hemisphere. It’s a win not just for Panda Biotech but for all of Wichita County. The plant will stimulate the local economy with high-paying jobs in agriculture, manufacturing, transportation and hospitality, offering both primary and ancillary employment opportunities.
Why C-PACE Works in Smaller Communities
What makes C-PACE so effective in markets like Wichita Falls is its ability to provide flexible, long-term financing for property owners seeking to modernize their infrastructure. These upgrades, which often include HVAC systems, insulation and efficient lighting, lower utility bills and reduce strain on the statewide energy grid.
But beyond environmental benefits, C-PACE financing acts as a catalyst for private investment and local job creation — two elements critical for rural and secondary markets looking to stay competitive in today’s economy. Municipalities who adopt C-PACE don’t take on debt or risk, yet they see measurable gains in tax revenue, employment and sustainability outcomes.
Pushing Clean Energy Financing Into the Mainstream
The expansion of C-PACE into smaller markets is a powerful example of how clean energy financing is becoming more inclusive. No longer confined to skyscrapers and luxury hotels in major cities, C-PACE is helping revitalize main streets, industrial parks and underserved areas across the country.
In doing so, it’s leveling the playing field — giving smaller communities the tools they need to attract green development, support innovation and meet climate goals without compromising their budgets.
As more counties and municipalities recognize the economic development potential of C-PACE, we expect to see continued growth in secondary markets. Lone Star PACE remains committed to helping communities across Texas leverage this powerful tool to build a more sustainable and prosperous future.
Interested in bringing C-PACE to your project or community? Schedule a meeting with Lone Star PACE today.