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Multiple Companies Investing $30 Million in Texas

Biochemistry giant Monsanto will invest $15 million to build a cotton research and development park in Lubbock, Texas, according to the Lubbock Avalanche-Journal. The company plans to create 20 new jobs at the facility, which local economic development officials say will total 50,000 square feet and is scheduled to begin operations next summer. The project is one of six agreements that received incentives approval from local officials on September 21; the projects represent 132 jobs created or retained and more than $30 million in capital investments. Among the other projects: Standard Sales, a regional distributor of Anheuser-Busch beverage products, will invest $12 million to construct a 109,000-square-foot distribution facility that will employ 22 people; and plastics manufacturer Industrial Molding will hire 60 new employees at its Lubbock facility to accommodate production work from six new customers, including one that is moving its manufacturing operations back to the United States from Asia. Specific financial information about the incentives was not released by the companies or economic development officials.

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