TX: Fritz Industries Invests $37.5M to Locate in Greenville, Hiring 250
22 Aug, 2013
Gov. Rick Perry announced Fritz Industries Inc. is opening a manufacturing and office facility in Greenville, creating 250 jobs and $37.5 million in capital investment. The state is providing $800,000 through the Texas Enterprise Fund to close the deal on this expansion and job creation.
"Texas continues to be a national example for creating jobs and opportunity thanks to our low taxes, smart regulations, fair courts and skilled workforce," Gov. Perry said. "This TEF investment in Fritz Industries will create hundreds of jobs in Greenville, pump millions of dollars in capital into the local economy, and further strengthen our state's economy."
Fritz Industries manufactures products used in drilling and cementing, and stimulation fluids that are critical to the daily operations of oilfield service companies. The company conducts research and development to improve productivity in new oil and gas wells and extend the life of existing wells. Employees at this facility will fill production, supply chain, quality assurance, engineering, maintenance, information technology and human resources positions.
"Fritz Industries is an employee-owned, Texas-based company, and we are proud to make this significant investment in the city of Greenville," Fritz Industries President and CEO Dan Montgomery said. "This Texas Enterprise Fund investment will help build a state-of-the-art facility that is critical to introducing new initiatives in the oilfield industry and will create employment opportunities for Greenville residents."
"I want to personally thank Gov. Perry, Sen. Deuell and Rep. Flynn for their tremendous support for Greenville. We worked very hard with the state to make this deal happen. Dan Montgomery and his team at Fritz Industries filled a major void in our tax base and employment base," Greenville Mayor Steve Reid said. "I also want to commend the Greenville economic development team of: Chairman Larry Green Jr. and board members, CEO Greg Sims and staff, the City Council and city staff, our County Judge John Horn and commissioners, GISD Board President Anne Hayes and Superintendent Don Jeffries and staff, and GEUS Board, Chairman David Dreiling and David McCalla General Manager and staff for their relentless efforts. Congratulations to all involved!"
"I am excited to see Fritz Industries locate their manufacturing plant in Hunt County. I was honored to be part of a great team effort with the Governor's Office and local leadership to see this get accomplished," Sen. Bob Deuell said. "This will have a profoundly positive impact on our local economy, and I look forward to seeing this community partnership grow and flourish."
"I appreciate the Governor's Office working so closely with the economic development team, leadership in Greenville and with our office to help bring this company and its many jobs to our area. We welcome them," Rep. Dan Flynn said.
The Legislature created the TEF in 2003 and re-appropriated funding in 2005, 2007, 2009, 2011 and 2013 to help ensure the growth of Texas businesses and create more jobs throughout the state. TEF projects must be approved by the governor, lieutenant governor and speaker of the House. The fund has since become one of the state's most competitive tools to recruit and bolster business. To date, the TEF has invested more than $498.9 million and closed the deal on projects generating 69,277 new jobs and more than $20.8 billion in capital investment in the state.