LEDA Announces 55 New Jobs and $19.9 Million in Capital Investment

Published 08/20 2014 01:52PM

Updated 08/20 2014 01:54PM

LUBBOCK, TX -- The Lubbock Economic Development Alliance (LEDA) announced the creation of 55 new jobs at a press conference on Wednesday, August 20. The additional jobs come as a result of the expansion of two local businesses in the Lubbock community.
National Pump Company, LLC and The Decor Group will expand their current Lubbock locations, and will create new jobs affording local citizens an opportunity to further their careers in Lubbock. Additionally, X-FAB plans to invest $15 million in new capital equipment which will require them to add new positions.
“On behalf of the board and staff at LEDA and Market Lubbock, we would like to congratulate National Pump Company, LLC, The Decor Group and X-FAB on their expansion and continued commitment to growing in Lubbock,” John Osborne, CEO and president of LEDA and Market Lubbock, said. “The jobs created and new capital improvements will have a tremendous impact on the local economy. We are excited to see the continued investment in Lubbock, and we remain fully committed to helping these and other local businesses grow.”
National Pump Company, LLC has purchased American Turbine Pump and will combine operations at the American Turbine Pump location on Clovis Highway. This expansion will add 32 new jobs with annual salaries around $1.1 million and $4.3 in new capital investment.
The Decor Group, a company that furnishes Christmas lighting and outdoor lighting for homes, has decided to expand their Lubbock location with 23 new jobs and making a new capital investment of close to $600,000. The new jobs feature annual salaries of $835,000.
In total, these companies will invest more than $19.9 million in new capital improvements. Jobs created from their projects will provide more than $1.9 million in new, annual salaries. Once fully operational, the total value added impact (change in Lubbock County’s Gross Regional Product) will be $5.8 million annually.

About LEDA
Since its inception in 2004, LEDA has assisted 134 companies with their expansion or relocation to Lubbock. These companies committed to creating 5,818 jobs and investing more than $431 million in new capital improvements that have resulted in $5.5 billion in cumulative economic impact to the Lubbock area.

(Press release by LEDA)

Copyright 2016 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.