Five businesses connected to Lubbock Economic Development Alliance projects expect to add 174 jobs and $11 million in annual pay combined, LEDA announced in a news release on Thursday.
“These new investments and jobs reflect Lubbock’s continued strength as a crucial hub for a diverse range of industries,” said John Osborn, LEDA president and CEO. “This growth creates new opportunities for our citizens and graduates, while generating economic benefits that extend throughout our entire region.”
LEDA announced these five companies and what they will bring to Lubbock:
Ambrose, an Indianapolis-based developer for auto parts distribution, will build a new facility at the Lubbock Business Park. This is expected to bring 30 new jobs and $14 million in investments.
Paramount Hardware and Supply, a locally-owned construction company, is expanding operations with a $3.8 million investment into the current facilities. This will create 15 jobs.
Another local developer, Seals Commercial Holdings, LLC, is investing $40 million to build a 350,000 sq. ft. "cross-dock speculative facility for traditional manufacturing and distribution operations," according to the release.
Redemption Aero will develop a Maintenance, Repair, and Overhaul operation. It is going through the FAA Part 145 certification process. Once completed, the facility will offer inspection, maintenance, repair and return-to-service for commercial aircraft parts and components. The company is retrofitting an existing space for $3.65 million, will create 54 jobs, and projections predict employees will earn $62.8 million over the next decade.
The final company is employee-owned Terracon Engineering Consultants, which is expanding in Lubbock with $6 million in capital investment and creating 75 new jobs.
"At Terracon, we continually strive to be ‘Best at People,’ and Lubbock continues to be a key market for making that happen,” said Erin Loyd, the West Texas director of regional operations. “With its central location in West Texas, Lubbock provides high-quality talent in critical roles such as engineers, scientists and technicians. The expanding Lubbock facility will serve as an epicenter for our growing client demand while continuing to meet our standard of exceptional service.”
Alana Edgin writes about business for the Lubbock Avalanche-Journal. Got a news tip? Contact her via email at aedgin@lubbockonline.com.
This article originally appeared on Lubbock Avalanche-Journal: 174 jobs coming to Lubbock in connection to LEDA assistance
