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Caterpillar continues to grow in Waco
[WACOTRIB] Caterpillar, the Illinois-based company that builds equipment that literally moves mountains, has found a reliable partner in Waco.The company has invested nearly $50 million in the community the past 15 years, and will spend another $6 million to install new equipment. Cat's local facilities make excavation buckets as well as surface-blasting hammers that look like jackhammers on steroids. It has created two logistics centers that ship stock and emergency parts to dealers. One occupies 1 million square feet in the former General Tire plant, the other 750,000 square feet near Bagby Avenue and Gateway Boulevard. When Caterpillar expresses an itch to expand, Waco and McLennan County typically help with the scratch. Incentives come in the form of tax breaks and grants from the Waco-McLennan County Economic Development Corp. "The city and county have put up $2.2 million from the corporation toward an overall investment of $49 million," said Melett Harrison, a program administrator in the city of Waco's economic development program who said Caterpillar has created about 550 jobs in the area. The Waco City Council recently approved yet another deal with Caterpillar, which will receive a business grant of approximately $45,000 in exchange for a pledge to install $6.2 million in machinery and equipment at the Caterpillar Work Tools plant on Texas Central Parkway. Posted by: Fred 2013-04-28 |
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