LUFKIN, TX (KTRE) - LUFKIN, Texas (KTRE) - A company which would employ 20 workers at startup has reached a verbal agreement to expand to Lufkin, according to an economic official.
Economic Development Director Jim Wehmeier said Tuesday that the Lufkin City Council will consider a final incentive program for the company next week. If the council approves the measure, a formal announcement may be made during the meeting, Wehmeier said.
The company, which will manufacture aerospace equipment, will start with 20 employees and guarantees to employ 83 workers within five years. It will be located in the new Lufkin Business Park on State Highway 103 East.
Wehmeier said the incentive package approved Tuesday by the Economic Development Board provides tax breaks for the company. Company officials said they will sign a contract with Lufkin once the package is approved, Wehmeier said.
"It's a fast-growth industry," Wehmeier said. "This type of high-tech manufacturing is replacing industries nationwide that have left Lufkin, like Abitibi."