Port Arthur Economic and Development Corporation Director Floyd Batiste cut the ribbon Wednesday, March 25, to celebrate the official opening of the Port Arthur Economic and Development Corporation’s new location at 501 Procter St. in downtown Port Arthur. Th e cost to refurbish the building, which was once First National Bank of Port Arthur, was around $5.4 million, Batiste said. “We are using both new market tax credit and Texas Historical Preservation Tax Credit to fi nance the project,” Ba- tiste told the Business Journal in a Janu- ary article.