CGT U.S. Limited Plans New Manufacturing Facility In New Braunfels, Texas
The project will reshore part of the company’s manufacturing from China and increase North American capacity. Craig Richardson, CEO of CGT said that “This new facility will enhance our customer experience by providing an additional source of CGT’s premium vinyl cover stock for our Automotive and Industrial customers. Our team carefully evaluated a number of potential sites in the Southern U.S. and was most impressed with the advantages associated with Texas, and in particular, the City of New Braunfels."
As an incentive, the state offered to provide a Texas Enterprise Fund grant offer of $2 million to CGT. In addition, the City of New Braunfels partnered with the Office of the Governor to facilitate state and local support for CGT’s relocation.
“At full build-out this project will create 275 jobs in New Braunfels, providing critical career opportunities for our residents and helping in the continuing effort to diversify our economic base,” said New Braunfels Mayor Barron Casteel. “During our visit to CGT’s global headquarters in Canada, we observed a strong company with a dynamic workforce and we know CGT will replicate that in our community.”
“I am proud to welcome CGT to the Lone Star State and look forward to seeing their business grow and create jobs in Texas,” said Governor Greg Abbott. “Thanks to our skilled workforce, low-tax and low-regulation climate, Texas will continue to attract industry leaders like CGT. By choosing Texas as the location to reshore part of their manufacturing efforts, we are proving that when given the opportunity, the Lone Star State can compete and win against any economy in the world.”
“As one of the city’s four major economic goals, the NBIDC has worked for many years to provide inventory for quality companies and developers,” said Stuart Hansmann, President of the New Braunfels Industrial Development Corporation. “Titan Development’s partnership with the City and the NBIDC to develop this industrial park has helped make this a reality and we are proud that CGT is the company that will help kick it off."
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