Titan Transloading’s $5.1 Million Facility Becomes Levelland, Texas, Industrial Rail Park’s First Tenant
Titan Transloading, a firm that transfers shipments directly from one mode of transportation to another, is the Industrial Park's first major tenant. In addition, Titan Trucks, Inc. invested $3.65 million in trucks and trailers and equipment for the project.
The Levelland Industrial Rail Park, which serves both rail and non-rail businesses with shovel ready industrial, distribution, and manufacturing sites, is located west of Lubbock, Texas, an hour from a Class 1 rail interchange with the BNSF Railway.
The Levelland plant is designed to handle unit trains of frac sand for the oil and gas industry and bulk agricultural products. The design of the Rail Park allows trains to move through the facility and transload in a 24 hour period. Titan transloads, or transfers, materials from rail cars directly onto trucks heading to oil fields and agricultural markets.
"Titan Transloading, LLC is very proud to be the first primary tenant in Levelland's Rail Park. We would like to thank Shawn Kirkpatrick and the LEDC board for their hard work and professionalism," said Shannon Himango, The Titan Companies President.
"This project represents a significant milestone in the Rail Park. It is our first major project to break ground. The Levelland Economic Development Corporation is proud to have worked with Titan to assist them in bringing this facility to Levelland, Texas. As we continue to develop the park we will reflect on how nice it was to break ground on the first major facility with a local company based in Levelland, Texas," said Shawn Kirkpatrick, Executive Director.
Titan plans to add $500,000 to its payroll to staff the facility in its second year of operation and an additional $250,000 in year three. As an incentive to invest in a facility at the Industrial Rail Park, Titan was approved for a $140,000 lease reduction based on its capital expenditures and proposed job creation efforts.
LEDC received $3.3 million in federal stimulus funds and utilized $1.5 million in Levelland Economic Development Corporation's cash reserves to construct its Rail Industrial Park. The remaining $3.8 million needed for the project came in the form of a loan, through bonds sold by the city. It will be repaid with LEDC sales tax revenues and a Tax Increment Financing District that was created for the project.
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