Taylor Rig and Equipment, CoNextrix, and TrueNorth Steel will invest a total of $22.5 million into Lubbock, Texas. The three companies will create 145 new jobs for the city.
Taylor Rig and Equipment provides industry-leading repair, refurbishing, inspection, and support for a wide variety of oilfield equipment and brands. The company announced the creation of 100 jobs and an investment of $225,000 into the Lubbock economy. Opened in January 2023, the company boasts over 60,000 square feet of manufacturing and warehouse capacity and a team of industry veterans, providing customers with more than 60 years of manufacturing and oilfield experience.
“Taylor Rig and Equipment is very excited about our new Lubbock location,” said Brett Taylor, President of Taylor Rig and Equipment. “We initially selected Lubbock due to its proximity to our primary customer base and the strong mechanical and agricultural labor pool. In our first five months of operations, we continue to be impressed with the quality of the local workforce and the ease of doing business in the Lubbock area. We look forward to growing our company in partnership with the Lubbock community.”
CoNetrix, a full-service computer networking, security, and compliance firm that specializes in financial institutions as well as enterprises requiring a high level of security in their operations, announced its $15.3 million expansion with the construction of a new facility and added equipment. The announcement also included the creation of 15 new jobs. Founded in Lubbock in 1977, today the company services all 50 states. CoNetrix, LLC is a family of four companies, including CoNetrix Security, CoNetrix Technology, Tandem, and AccountingWare.
“We are excited to announce the upcoming construction of our new office building which will include an attached event space. The building will serve as an innovative workspace for our exceptional team,” said CoNetrix CEO, Marvin Crossnoe. “Our company has seen dramatic growth over the past few years, and this building will serve as a way to invest back into our people and community as well as set us up for continued growth into the future.”
Following TrueNorth Steel’s announcement in March revealing the launch of a new steel tank production line at its Lubbock manufacturing facility, the company has added an additional 30 jobs due to the increased demand for labor. The Lubbock facility has the capability to produce three product lines for the company, including: structural steel, vehicular and pedestrian bridges, and underground tanks.
“With the addition of our recently launched tank fabrication line at TrueNorth Steel—Lubbock, we are pleased to provide new employment opportunities,” said Dan Kardrmas, President of TrueNorth Steel. “We will add a total of 30 TrueNorth Steel—Lubbock employees to advance this manufacturing line, which will benefit the growth of the Lubbock community and bolster the Southern U.S. bulk fuel tank markets.”
“I am thrilled with the expansions announced today which highlight the continued growth of our business community,” said John Osborne, President and CEO of LEDA. “Small businesses are the backbone of the nation’s economy as they create jobs, foster innovation, and drive local growth. With the addition of these new jobs and millions of dollars in investment, we are grateful for the successes of our small businesses. The continued growth emphasizes that the opportunity to thrive as a business owner in Lubbock has never been stronger.”
Albers Invest In Amarillo
Albers Aerospace will invest $50 million into Amarillo, Texas to build a new facility. The Albers Aerospace manufacturing facility will bring over 400 new jobs to the city and will consist of three business units: manufacturing, innovative technologies engineering and aviation services.
Albers is a certified serviced disabled veteran-owned business. The company supplies engineering, manufacturing, and aviation services to the U.S. Department of Defense.
“We are excited to announce our formal acceptance of the incentive package to move the innovative technologies business unit to Amarillo,” John Albers, Chief Executive Officer of Albers Aerospace, said. “My goal is to bring over 400 jobs to the city, with most of it being homegrown and being trained by local universities.”
The Amarillo Economic Development Corporation (AEDC) agreed to provide the defense contractor 30 acres of land to build its facility near the airport, about $4 million in incentives to create local jobs within a month of selecting the city, and another $4 million after the deal is recognized for the site.
“We are really excited about the prospect of what Albers will do for the region,” Kevin Carter, President and CEO of AEDC said. “The economic impact from this project will be well over $100 million per year. This will have a tremendous amount of impact on the community.”
The company is expected to break ground this fall.