City Council Approves 4A Money for New Business
The Wichita Falls City Council has cleared the way for a new business to set up shop with the approval of an incentive package. American Fuel Cell and Coated Fabrics Company (AMFUEL) will bring an expansion operation to Wichita Falls. The move will reportedly create as many as 280 new jobs. The Magnolia, AR based company builds fuel tanks for the aerospace and the liquid logistics industry.
The Wichita Falls Economic Development Corporation (4-A Board) approved a $2 million incentive package for the company in July. Wichita Falls Chamber of Commerce President Henry Florsheim posted to the Chamber website:
Our economic development team has been working on this project for two years; we're ecstatic that all that hard work has paid off. These types of jobs are the reason the citizens of Wichita Falls approved the creation of our economic development sales tax years ago. We're looking forward to helping AMFUEL make the transition so they can begin hiring locally as soon as possible.
Two potential locations in Wichita Falls are being considered by the company, one of them being the former Delphi Plant on I-44. The incentives provided by the 4-A Board, Wichita County and the State of Texas include an $800,000 no-interest, forgivable loan, up to $844,740 in ‘Cash for Jobs’ and $336,000 in training funds if a Skills Development Training Grant cannot be secured from the State of Texas.
The Chamber expects an announcement soon on exactly when hiring will begin.