The state is investing $550,000 through the Texas Enterprise Fund (TEF) in Coll Materials Exchange for the company’s expansion into Waco. Contingent upon the completion of a local incentive agreement, this investment will create 111 jobs and generate an estimated $5.9 million in capital investment.
“Employers from around the nation and all over the world continue to seek the job-friendly climate we’ve created in Texas with our low taxes, reasonable and predictable regulations, fair legal system and skilled workforce,” Gov. Perry said. “This TEF investment will help with Coll Materials’ expansion into Waco, create jobs for 111 Texans and generate millions of dollars into the City of Waco’s local economy.”
A national post-industrial and post-consumer plastics recycling company, Coll Materials Exchange uses state-of-the-art equipment to process plastic scrap into pellets for reuse and resale. Processed material is sold to plastic manufacturers for various uses, including thermoformers, injection molders, structural foam molders and vacuum formers. This TEF investment will allow the company to expand its current operations to the Southwest, where the combined capacity of the two plants will produce more than 100 million pounds per year, with the capability for growth.
Source: Office of the Governor Click here for full press release