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Gov. Rick Perry today announced the state is investing $425,000 through the Texas Enterprise Fund (TEF) in CK Technologies for the creation of a manufacturing facility for truck components in Brownsville. This investment will create 121 jobs and generate an estimated $18.2 million in capital investment.
“Texas’ diverse economy continues to grow, and communities like Brownsville continue to attract jobs for Texans thanks to TEF investments like this one in CK Technologies,” Gov. Rick Perry said. “These investments, along with our low taxes, reasonable and predictable regulatory climate and skilled workforce, have helped make the Lone Star State the national model for job creation and economic recovery.”
CK Technologies provides innovative solutions for the commercial truck and bus industry through engineered plastic systems that provide part consolidation, weight minimization and cost effectiveness. This facility will serve customers in Texas, Oklahoma and Mexico, and will house an injection molding bay, electroplating line, paint line and warehouse for the manufacturing of systems and components for the large truck industry.
“Brownsville’s location meets and exceeds our strategic plans for growing CKT’s manufacturing footprint, while allowing us to better serve our many customers located in the Southwest,” CK Technologies Commercial Director Tony Kramer said. “The Texas Enterprise Fund, in conjunction with local economic development officials, was instrumental in helping CKT achieve our goal and vision, and we know that with the talent located in Brownsville, we will experience continued success.”
“The Texas Enterprise Fund and Brownsville’s pro-business climate were significant factors in the site selection process of CK Technologies,” Brownsville Economic Development Council President and CEO Jason Hilts said. “The capital investment and commitment from CK Technologies solidifies the fact that the Greater Brownsville region provides major companies the opportunity, tools and resources to compete and succeed at the global level.”
The legislature created the TEF in 2003 and re-appropriated funding in 2005, 2007 and 2009 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 $425.5 million and closed the deal on projects generating 56,740 new jobs and more than $14.7 billion in capital investment in the state.
For more information about the TEF, please visit http://www.texaswideopenforbusiness.com/financial-resources/texas-enterprise-fund.html or http://www.governor.state.tx.us.
