Lufkin economic development board approves $30M investment from Gattefosse
LUFKIN, Texas (KTRE) - Lufkin’s economic development board approved a new partnership with an international beauty and healthcare company Tuesday.
As a part of the incentive, Gattefosse USA will invest $30 million in capital investment, and the city will provide them with 15 acres of land in Lufkin’s Industrial Park off Highway 103 E near Twin Disc.
Director Bob Sanford said the facility will produce lipid-based specialty ingredients for the beauty and health care industries worldwide.
The company plans to hire at least 10 full-time employees and start construction by October 2022.
“I think the compliment that they gave us is something that we all need to take note of. We are an up-and-coming city,” Sanford said. “We are going to capitalize on a foreign trade zone. I think that is the clear and concise message that I take away from it.”
Gattefosse’s is a 140-year-old family-owned company from Lyon, France.
Sanford says the Lufkin facility will be their first North American manufacturing plant.
The city will also consider a 10-year tax abatement at the city council meeting on January 19th.
Copyright 2020 KTRE. All rights reserved.