The Kilgore business community has welcomed its newest corporate citizen, DRILLTOOLS, LLC, into Synergy Industrial Park. The company combines new and existing technology to manufacture drilling and excavation products primarily for heavy civil construction.
DRILLTOOLS has constructed a 50,000 SF building valued at $1,780,000 on 9.25 acres at 401 Enterprise St. The company also has installed $2,550,000 in machinery and equipment, and intends to acquire $950,000 worth of inventory and hire 40 full-time employees. In return, Kilgore Economic Development Corporation will grant the company incentives worth $337,500 for the construction of capital improvements in Kilgore and for new job creation to offset the cost of the company’s real estate purchase in Synergy Park.
Kilgore Economic Development Corp. received the Texas Economic Development Council’s Economic Excellence award at the council’s spring conference in Rockwall April 19.