BROADCAST TRANSCRIPT:
“We’ve had great success bringing new foreign investment into the community,” Kris Collins with the Waco Chamber of Commerce said.
The success is happening in Waco — through the Mexican sports drink company Electrolit.
It’s the company's first U.S. production facility—its headquarters are located in Houston.
Kris Collins is the executive vice president at the Waco Chamber of Commerce.
Collins told 25 News' Marc Monroy that the project will also create more than 200 new jobs, which will help broaden the local tax base.
"At the end of the day it all lined up as a good fit for the company but most importantly a good fit for the community,” said Collins.
The explosion of foreign companies at Texas Central Park means more opportunities for local suppliers.
We've previously told you about Graphic Packaging Internationalbreaking ground on its $1,000,000,000 investment.
But right next door will be Electrolit’s $400,000,000 production center.
"This helps create more business opportunities within the communities, especially our small businesses — it’ll help support local realtors, businesses, and banks," Collins said.
With the use of grants and potential tax incentives for Electrolit, local tax dollars won't be used to help build its facility. Instead, the Mexican company's arrival should provide opportunities for local businesses.
"When these types of companies come in, they tend to look to local suppliers, which helps support local industries within the market," Collins said.
After two years of working with the Mexican company before finalizing a deal, the chamber is looking forward to learning more about how Texas Central Park can be used as a hub for future foreign investment.
"You know it takes a team to get this done since this is more than two years in the work," Collins said.”
