CGT U.S. Limited will construct a new manufacturing facility in New Braunfels, Texas. CGT anticipates creating at least 275 jobs and $80 million in capital investment in the State of Texas.
A Texas Enterprise Fund grant offer of $2 million has been extended to CGT.
“I am proud to welcome CGT to the Lone Star State and look forward to seeing their business grow and create jobs in Texas,” said Governor Abbott. “Thanks to our skilled workforce, low-tax and low-regulation climate, Texas will continue to attract industry leaders like CGT.”
“This new facility will enhance our customer experience by providing an additional source of CGTs premium vinyl cover stock for our Automotive and Industrial customers,” said CEO Craig Richardson. “Our team carefully evaluated a number of potential sites in the Southern U.S. and was most impressed with the advantages associated with Texas, and in particular, the City of New Braunfels."
The City of New Braunfels partnered with the Office of the Governor to facilitate state and local support for CGTs relocation.
“At full build-out this project will create 275 jobs in New Braunfels, providing critical career opportunities for our residents and helping in the continuing effort to diversify our economic base,” said New Braunfels Mayor Barron Casteel.
The facility is expected to be up and running in early 2017.