Lubbock Economic Development Alliance Efforts Retaining, Attracting Employers
02/27/2012
LEDA offered incentives of about $500,000 to the companies creating the new jobs, which are expected to yield $5.1 million in new payroll for the local economy.
Red River Commodities has been located in Lubbock, but considered other cities for launching a new product. The company's new plant will roast sunflower seeds in a facility at the former Budweiser building in East Lubbock.
Red River Commodities plans to hire 105 people with annual salaries of $3.3 million.
Amerigroup Real Solutions will open in Lubbock with 36 new employees to be hired at its new Lubbock location, the company will be paying salaries more than $2.6 million. Amerigroup is the largest publicly traded company to focus exclusively on health care needs of Medicaid recipients and the uninsured.
LEDA incentives are paid out over a five-year period as jobs are created. In the previous fiscal year, LEDA incentives were responsible for 550 new jobs with an annual payroll of $19.3 million, according to the group's annual report. From 2004 through the end of the fiscal year, LEDA had incentivized 4,133 jobs with anticipated wages totalling more than $122.2 million.
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