When the townsite was granted its first Post Office way back in 1884, locals decided to change its name to Midland from the original Midway Station mainly due to its location between El Paso and Fort Worth and because several other towns have been using the name Midway. It eventually emerged as a very important cattle shipping center along the Texas and Pacific Railway and by 1906 was incorporated into a city. Shortly after that, the city residents started enjoying the newly established water system along with its first fire department and other utilities.
But what catapulted Midland to economic boom is the 1923 discovery of rich oil deposits in the Permian Basin followed by another in Spraberry Trend shortly after the Second World War. High oil prices during the 1970s started yet another economic boom, with Permian Basin field producing a fifth of the United State’s overall natural gas and petroleum output. The city is also known as the “The Tall City” with the construction if high rise downtown office buildings spurred by these major oil discoveries.
Although Midland’s economic stability relies primarily with its oil and natural gas industry, the city eventually emerged as a regional center for telecommunications and as a distribution hub catering to residential, small business, and industrial establishments. The current upswing of the city’s energy-driven economy is bringing renewed development in its downtown area with a growing number of relocating workforce making Midland their home.
In this regard, energy deregulation will bring many advantages to small businesses and corporations deciding to relocate to this booming city. Midland residents and businesses not only enjoy some of the lowest electricity rates in the nation but they also have the power to choose their retail and commercial electricity providers. The deregulated power market and competition among electric companies not only benefits business and residential consumers but other community establishments, organizations and institutions as well.