Wichita Falls EDC OKs incentives for new business park plant
The Wichita Falls Economic Development Corporation on Monday signed off on an incentive package for a new plant to be built in the city's business park.
Winfield Solutions/Land O' Lakes intends to build a 100,000-square-foot building in the park at a cost of $14.2 million.
The company's goal is to consolidate five operations spread across Texas and Oklahoma into the single plant for agricultural products.
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The incentive package from the EDC includes the donation of the land for the building, a $1 million forgivable loan and a "cash for jobs" deal at $5,000 per job for 16 jobs.
Also included are employee relocation incentives to the tune of up to $8,000 per employee who relocates to Wichita County.
The company already employs eight workers at its facility on Sheppard Access Road, who will move to the new plant, and intends to hire the additional eight when the plant opens in late 2023.
The company estimates a total annual payroll of $902,700.
The Wichita Falls City Council will have final say on the deal at a June 21 meeting.
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This article originally appeared on Wichita Falls Times Record News: EDC OKs incentives for new business park plant
