Gov. Rick Perry today, at a press conference announcing a $675,000 Texas Enterprise Fund (TEF) investment in Tapco International, Inc., credited Texas’ low taxes, reasonable and predictable regulatory climate, educated workforce and investments through the TEF with helping attract jobs and businesses to the state. The company is creating a new manufacturing facility in Baytown, which will create 100 jobs and generate an estimated $26 million in capital investment.
“Today, we break ground on a facility, part of TapcoEnpro’s capital investment in Baytown and Chambers County, that will soon be filled with workers producing equipment for our state’s vibrant energy sector,” said Gov. Perry. “Thanks to investments like the Texas Enterprise Fund, this new manufacturing facility will help enhance TapcoEnpro’s already strong reputation as producers of quality technology.”
“We are pleased that TapcoEnpro has chosen to build their new facility in Baytown, creating good jobs for Texans in this area,” said Roberto DeHoyos, director of the Texas Enterprise Fund. “The Texas Enterprise Fund continues to attract great companies like this one to our state, and in turn, Texas continues to reap the benefits from their commitment to job creation which enriches the local and state economies.”
TapcoEnpro, a wholly owned subsidiary of the Curtiss-Wright Corp., designs and manufactures highly engineered, advanced technologies that perform critical functions in the defense, energy, commercial aerospace and general industrial markets. The new facility will be used to build large vessels for the refining and petrochemical industries as well as support the production of large valve products, and will house some of the most modern machining and fabrication equipment available in the industry.
“The state’s investment through the Texas Enterprise Fund has helped bring us here to mark the start of construction on TapcoEnpro’s new manufacturing facility at Cedar Crossing,” Curtiss Wright Flow Control Vice President and General Manager Clif Jacobs said. “We have set a target to improve our competitive position significantly. When completed, our new heavy fabrication facility will provide the flexibility to grow into new markets, offer new products, increase our ability to bid competitively on large-scale refinery projects, and increase our global market share.”
“We at the City of Baytown are proud to partner with Chambers County and the Governor’s Office of Economic Development and Tourism in attracting the TapcoEnpro project to Cedar Crossing,” Baytown Mayor Steve DonCarlos said. “This innovative company is a perfect match for this location, and the project exemplifies the great value the Texas Enterprise Fund brings to our plans to grow this region.”
“The commissioners and I are very pleased that TapcoEnpro has chosen to expand in Chambers County. The company has a reputation for quality and cutting edge technology, and Chambers County is perfectly located to allow them to serve their customer base and to meet their goals in the most cost effective manner,” Chambers County Judge Jimmy Sylvia said. “I especially appreciate the support and involvement by the governor and his office of Economic Development and Tourism in convincing TapcoEnpro to build in Chambers County rather than some other state by leveraging local and state incentives, including the Texas Enterprise Fund.”
At Gov. Perry’s request, 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 $408 million and closed the deal on projects generating more than 53,600 new jobs and more than $14.4 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.