WICHITA FALLS (KFDX/KJTL) — After months of work, Panda Biotech has officially purchased the old Delphi building on I-44.

The Wichita Falls Chamber of Commerce Facebook page posted Tuesday afternoon that the business has raised the flag at its location.

In July 2020, the hemp processing company chose Wichita Falls to build its first facility.

City council would later unanimously approve of a $2.8 million incentive plan for the plant, that included a forgivable loan of $2 million if the company produces at least 50 jobs. If the plant is built and later closes or forfeits on the agreement, the city would then take ownership of the building as collateral for the loan.