Longview, TX — The Kilgore Economic Development Corp. will spend about $92,000 to help an area company in a planned $1.5 million expansion that will add 10 jobs.
Kilgore-based Surface Equipment Corp., at 337 Cargill Road, produces equipment for the oil and gas industry.
The company has 80 employees and plans to increase that to 90 within three years.
Lisa Denton, assistant director of KEDC, said the investment would be paid in portions, with about $60,000 being given to the company after it has a certificate of occupancy on the expansion and has proven the up-to-$1.5 million investment.
The other roughly $30,000 would be paid out as the company meets its employment goals of adding 10 workers. Denton said the company expects to meet those targets within a year.
Read more  from the Longview News-Journal.