PRESS RELEASE - AMFUEL CONSIDERS EXPANSION PROJECT
FOR IMMEDIATE RELEASE:
AMFUEL Considers Expansion Project in Wichita Falls
WICHITA FALLS, TX (July 15, 2015) -- American Fuel Cell and Coated Fabrics Company (AMFUEL), a Magnolia, Arkansas-based manufacturer of fuel tanks for the aerospace and the liquid logistics industries, is considering expanding its operation to Wichita Falls. The move could create up to 280 new, full-time jobs.
The Wichita Falls Economic Development Corporation, also known as the 4a Board, has approved a $2 million incentive package to lure this company to our community. The incentive package must now be approved by the City Council.
The proposal includes an $800,000 no-interest, forgivable loan, up to $800,000 in Cash for Jobs, and $336,000 in training funds if a Skills Development Training Grant cannot be secured from the State of Texas.
Kevin M. Pearson, Senior Vice-President for the Wichita Falls Chamber of Commerce and Industry said, "AMFUEL could bring close to 300 primary jobs to Wichita Falls. We have been working with the company since 2013, and have met with company executives at their facility in Magnolia. Based on what we have seen, this expansion would be a good fit for Wichita Falls."
AMFUEL is considering several other communities for this expansion project. The 4a incentives are designed to position Wichita Falls as the premiere location for this new venture.
Two potential locations in Wichita Falls are currently being considered by the company, but a final decision has not yet been made.