KEDC agreed recently to fund agreements with three companies that will keep 180 jobs and millions in investments local.
KEDC has agreed to grant Cudd Pumping Services up to $52,000.00 over three years for the retention of 100 jobs in Kilgore and the addition of capital improvements in the City of Kilgore. Cudd is improving its property and investing in Kilgore, and they are a good employer as well as a good corporate citizen. Cudd Pumping Services is a division of Cudd Pumping Control, a leading world-wide provider of services to the oil and gas industry.
The East Texas Council of Governments will receive $33,000.00 over each of the next three years for investing in its current facility and keeping 50 jobs in Kilgore. Retaining regional headquarters is an important part of KEDC's strategy because those types of companies bring visitors and overnight stays as well as its payroll. ETCOG assists local governments in a 14-county area.
Weatherford International, Ltd., will retain 32 jobs while improving its current facility. KEDC will invest $577,000.00 in the building and increase rent to the company to pay for the renovation within seven years. Weatherford plans to add 4-10 jobs during that period although KEDC added no premiums to the deal. One of the largest global providers, Weatherford helps build innovative mechanical solutions, technology applications, and services for all phases of oil and gas developments. Weatherford operates in over 100 countries and employs more than 40,000 people worldwide.
