Maxor Expands Amarillo, Texas, Headquarters
The company, which has regional offices in 14 states, was founded in 1926 and remained under local ownership until early 2014 when Beecken Petty O’Keefe & Co., a Chicago-based private equity firm, purchased the majority of the company.
According to Amarillo Economic Development Corporation, Amarillo City Council recently approved a $13 million incentive to Maxor. This ratification follows approval by Amarillo Economic Development Corporation Board of Directors.
“Maxor is proud to have worked with Amarillo Economic Development Corporation to continue its long-standing commitment to the community” said Maxor CEO, Mike Ellis.
Amarillo Economic Development Corporation’s incentive package includes a $5.5 million grant for the retention of Maxor’s existing 220 employees and $13.8 million payroll for a 20-year period. Under the agreement, Maxor may receive an additional $7.5 million should the company create 375 new employment positions with a corresponding payroll of $25 million.
“The Amarillo Economic Development Corporation is ecstatic to have secured this project for the community as it ensures Maxor is here to stay for the long-term and it offers high-paying, well-educated job opportunities for Amarillo residents”, said Barry Albrecht, Amarillo Economic Development Corporation President & CEO.
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