CGT U.S. Limited will construct a new manufacturing facility in New Braunfels, TX, creating at least 275 jobs and $80 million in capital investment. The project will reshore part of the company’s manufacturing from China and increase the company’s North American capacity.
Canada-based CGT produces coated fabrics and films for automotive and industrial applications, and employs 650 people.
“This new facility will enhance our customer experience by providing an additional source of CGT’s premium vinyl cover stock for our Automotive and Industrial customers,” said Craig Richardson, CEO of CGT. “Our team carefully evaluated a number of potential sites in the Southern U.S. and was most impressed with the advantages associated with Texas, and in particular, the City of New Braunfels.”
CGT had also considered locations in South Carolina and Tennessee for the project. The City of New Braunfels partnered with the Office of the Governor to facilitate state and local support for CGT’s relocation.
A Texas Enterprise Fund (TEF) grant offer of $2 million has been extended to CGT. The Texas Legislature created the TEF in 2003 to help attract new companies to Texas and expand existing businesses to create more jobs. 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 economic development tools.
“I am proud to welcome CGT to the Lone Star State and look forward to seeing their business grow and create jobs in Texas,” said Governor Greg Abbott. “Thanks to our skilled workforce, low-tax and low-regulation climate, Texas will continue to attract industry leaders like CGT. By choosing Texas as the location to reshore part of their manufacturing efforts, we are proving that when given the opportunity, the Lone Star State can compete and win against any economy in the world.”
“At full build-out this project will create 275 jobs in New Braunfels, providing critical career opportunities for our residents and helping in the continuing effort to diversify our economic base,” said New Braunfels Mayor Barron Casteel. “During our visit to CGT’s global headquarters in Canada, we observed a strong company with a dynamic workforce and we know CGT will replicate that in our community.”
The 240,000-square-foot manufacturing plant will be built on 28 acres in the new Titan Industrial Park and is slated for completion by year’s end.
“As one of the city’s four major economic goals, the NBIDC has worked for many years to provide inventory for quality companies and developers,” said Stuart Hansmann, President of the New Braunfels Industrial Development Corporation. “Titan Development’s partnership with the City and the NBIDC to develop this industrial park has helped make this a reality and we are proud that CGT is the company that will help kick it off.”