North Texas Home Owners Benefit From Renewable Industries

When measuring the health of an economy, there are many factors to take into consideration. While many focus on the performance of the housing market, which is certainly a good measure of a strong economy, the number of businesses opening new facilities within a region is another good sign of a healthy economy. After all, a company is not going to invest millions of dollars in building a new facility if it does not feel strongly that the company will succeed and will have a high-quality pool of potential employees to fill their positions. Therefore, the fact that a renewable energies company is in the process of opening a new plant in Amarillo is certainly a good sign that North Texas has much to offer to those who want to call it home.

GRI Renewable Industries, which is a division of Gonvarri Steel Industries in Madrid, has announced plans to build a new manufacturing plant in Amarillo. The company will invest $41 million in the plant, which is expected to create more than 300 new jobs in the area.

Started in 2008, GRI Renewable Industries focuses on manufacturing components used in renewable energy. This includes the manufacture of towers and flanges while also assisting with logistics. The new Amarillo plant will focus specifically on manufacturing towers and components used for wind energy. Currently, the company has ten manufacturing plants throughout the world that are specifically designed to supply wind towers and flanges to the wind industry.

According to Javier Imaz, Amarillo was selected as the location for the new manufacturing plant largely because of the state’s pro-business climate. The strong workforce as well as the city’s geographical location were also contributing factors in making the decision. The Amarillo Economic Development Corporation reports that it has to compete for the plant with cities in states such as Kansas, Oklahoma and New Mexico.

The parent company of GRI Renewable Industries, Gonvarri Steel Industries, is located in Spain. The company specializes in processing steel for a variety of different purposes. Over time, the company has spread to other European countries and has also established a presence in Latin America, Asia, South African and elsewhere in the United States. The company has also expanded to offer more than steel processing services, as it is now fully involved in the manufacture of renewable energy components.

Texas Helps Bring New Companies to the State

In an effort to assist with bringing GRI Renewable Industries to the state, government officials are planning to offer the company $1.85 million in economic incentives. The funds are made available through the Texas Enterprise Fund.

Construction on the new plant is expected to begin this year, while it is expected to be operational by the end of 2016.

Thanks to the attractive business climate that the state has to offer. North Texas region has been attracting a large number of new businesses recently. Not only do these businesses represent new employment opportunities for Texas residents, but it also adds to the ever-changing climate of the region.

To learn more about the amenities and conveniences that North Texas has to offer or to find your own Flower Mound home, contact our team of experienced real estate experts today. We will be happy to answer any questions that you might have.

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