Lubbock Economic Development Alliances Announces Business Expansions, Relocations
The Lubbock Economic Development Alliance has announced 167 new jobs for the Hub City.
At a press conference Monday, LEDA announced that two local businesses will expand and one new business will relocate to Lubbock.
AmpliSine Labs, which specializes in developing and commercializing new technology in automation and control, wireless communication, and more, is expanding their current Lubbock location with the addition of 115 new jobs over the next five years. The company plans to make a capital investment of at least $650,000.
The PROS Company is a full-service machine shop that rebuilds and restores air and gas compressing units, and plans to create 29 new jobs with an expansion that will double the capacity of their downtown Lubbock facility. Their capital investment is expected to be $1.1 million.
SERVCO Chemical will relocate their company to Lubbock from Hereford. Their relocation will create 23 new jobs and bring an initial capital investment of $2 million.
In total, these companies will invest more than $3.75 million in new capital improvements, and jobs created from their projects will provide more than $7 million in new annual salaries.
LEDA says that once these expansions and relocation are complete, the total impact to Lubbock County’s Gross Regional Product will be $19.1 million annually.