Kilgore Economic Development Corporation last week inked an agreement with a local business to keep 100 jobs and add more than $2 million in new investments to its facilities here.
Cudd Pumping Services Inc. signed a KEDC Economic Development Performance Agreement on Aug. 18 that will give Cudd Pumping Services up to $52,000 for the retention of 100 jobs and the addition of $600,000 in real property and $2 million in personal property improvements in Kilgore over the next three years.
The company's main facility is located at 2600 N. Hwy. 135, with a second plant on Goforth Road.
"Cudd is improving its property and investing in Kilgore," said Amanda Nobles, KEDC executive director. "They are a good employer and a good corporate citizen."
Nobles said Cudd requested assistance to expand water and sewer lines to serve its expansion for new welding and wash bay buildings.
KEDC and Cudd have been working for about a year on the agreement.
Bill Adamson, KEDC board president, said, directors appreciate the investment Cudd is making in Kilgore and he praised Dale Henley, Cudd's vice president of finance, for assisting with this project.
"This company has a major investment in Kilgore and continues to add facilities and equipment here. The increase in our tax base is beneficial to Kilgore's economy, and the jobs and payroll benefit our citizens," Adamson said.
Cudd Pumping Services is a division of Cudd Pumping Control, a leading worldwide provider of services to the oil and gas industry.
In other action during the KEDC board meeting on Aug. 18, directors:
— Approved a request by the city to use a 28-acre parcel of KEDC land across the loop from Synergy Park to store concrete debris derived from recent street repairs within the city. Nobles said the city will eventually rent a crusher and use the concrete for other projects.
— Approved a lease agreement for the former Kennedy Building at Kilgore Industrial Park. Nobles said they have been talking with an existing industry prospect about leasing a portion of the building as a temporary warehouse and the board approved the lease agreement but the tenant will not be announced until the deal is completed.
