Local expansion may add 85 new jobs

Kilgore Economic Development Corporation is working with two business prospects that would add more than $1 million in personal property value to Kilgore.

"Since the contracts are not signed, we can't release the names of the businesses," said Amanda Nobles, KEDC executive director.

The first prospect, No. 950, is an existing business.

According to the agreement, Nobles said, the company would retain its 107 employees and attempt to add 10 to 20 more.

"The firm is also planning to relocate 85 full-time employees from another facility," she said.

Nobles said if the contract goes through, the company plans to expand and remodel an existing office and shop building at a cost of $800,000.

"The company would bring $1 million in personal property value to Kilgore," she said.

As its part of the agreement, KEDC will grant the company

a $200,000 incentive over a three-year period - $50,000 the first year and $75,000 the second and third years.

Nobles said she hopes to finalize the contact soon.

KEDC has extended a proposal to a smaller company, Prospect No. 1008. The company is still considering the offer.

Under the terms of the proposal, KEDC would assist with site preparation and infrastructure work up to $10,000.

The company reportedly has two employees and plans to create two new positions. The plans include purchasing an existing facility and making $75,000 in improvements.

"The firm would add about $10,000 in personal property value to Kilgore," Nobles said.