Wichita Falls, TX. - Wichita Falls City Councilors this morning approved an incentive package of almost one million dollars in hopes a company will bring at least 64 new jobs to the city.
The city is trying to bring in a new business where more than one thousand people once worked.
Officials are making the offer to Eagle Railcar Services..a Texas rail car repair company, to open a facility at the old Saint Gobain-Vetrotex property which shut down about 5 years ago.
Kevin Pearson of the Chamber of Commerce and Industry, says they have received many favorable comments about the company and city officials visited one of their facilities in Elkhart, Texas.
"Given all the outstanding things that we've heard about the company, the financial condition of the company, it seems to be a warranted expenditure," says Pearson.
Councilor Tim Ingle says the money may seem like a lot to invest for the number of jobs but it's worth it.
"These guys get their salary, spend it through the economy and then the company takes it and buys supplies with it from our suppliers and other Wichita Falls businesses and now that money is rippled through double," says Ingle.
But it's far from a done deal, because other cities are also in the competition for the facility.
"We are in competition with Paris and Gonzales Texas, both of which have offered them another 500 thousand dollars," says Pearson.
Now it is up to Eagle Railcar Services to decide which city and incentive package is best.