2 new projects approved by Amarillo EDC
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AMARILLO, TX (KFDA) - The Amarillo Economic Development Corporation’s board approved two new projects that are expected to increase economic development in Amarillo.
On Friday, the AEDC approved selling land in its business park to build a manufacturing facility as well as committed up to $600,000 to a new program that aims to accelerate the creation of business.
Interim President and CEO Doug Nelson said under the plans, AEDC would sell around nine acres in Center Port Business Park in east Amarillo for the facility, costing around $5 million.
If the move creates 20 jobs, it would get a rebate of some of the purchase price.
The business accelerator program will be run by the West Texas A&M Enterprise Center, with the money being used for operations. However, if the businesses don’t hire any employees, the center would have to pay the $600,000 back.
Amarillo City Council still has to approve the projects.
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