The City Council of Lubbock has approved a $152,000 grant from the Lubbock Economic Development Alliance (LEDA) for TTX, a railcar pooling company. The grant will be used to build a railcar repair facility in Slaton, which is expected to create at least 31 new jobs and generate over $2 million in yearly payroll.

Local Economic Impact

According to LEDA, the grant will pay for itself in less than a year, with the project expected to generate $21.9 million in taxable sales over 10 years. The facility will also contribute to Lubbock’s sales tax, as TTX will be buying equipment and paying sales tax in the city.

Clifton Shaw, Slaton mayor, said the project will create 30-35 welder positions, as well as 11-13 supervisory and office positions. The facility will also include a 72,000-square-foot area for maintenance and/or scrapping.

Community Support

Chris Rankin, LEDA vice president, said that the project will have a positive impact on the community, with the new jobs and economic activity contributing to the city’s growth. Councilman Tim Collins said that the project will benefit the city, even though the facility is located in Slaton.

The project has also received support from Jason Corley, county commissioner for Precinct 2, who said that the facility will bring in significant tax revenue for the county.

Original reporting: Lubbock Lights — read the source article.