Gov. Perry Announces $500000 TEF Investment
SAN MARCOS Gov. Rick Perry today announced the state will invest $500000 in Grifols Inc. through the Texas Enterprise Fund (TEF) to open a new facility for the companys plasma testing laboratory in San Marcos. The company will create 190 new jobs and generate more than $76 million in capital investment.
Now more than ever companies are looking to Texas as the best state in the nation to live work and raise a family because of our low taxes reasonable and predictable regulatory environment and diverse and educated workforce" Gov. Perry said. This TEF investment will bring 190 jobs to San Marcos while strengthening Texas biomedical sector and generating millions of dollars in capital investment in central Texas."
Grifols provides research development manufacturing and marketing of plasma derivates IV therapy enteral nutrition diagnostic systems and medical materials for the bioscience diagnostic and hospital sectors. The company is developing several facilities across the state in addition to the San Marcos location.
The Texas Enterprise Fund as well as the skilled workforce and favorable business environment of San Marcos were key factors in our decision to make Texas a strategic part of our long term growth plan" Grifols President and CEO Gregory Rich said. The construction of a new testing laboratory warehousing and production facilities in San Marcos will help meet the growing needs of patients worldwide who suffer with rare chronic and often life threatening diseases."
Operations in San Marcos will be developed in two phases beginning with a new plasma testing laboratory and continuing to expand the companys operations with a plant specializing in fractionation or the extraction and purification of specific proteins from human plasma to create life saving medications. This facility will supplement the companys current fractionation facility in California and will make Grifols the first company in the industry to operate two fractionation plants.
Id like to personally thank our governor Rick Perry and his vision to create the Texas Enterprise Fund to afford local cities and counties the ability to attract and secure new businesses to our areas" Hays County Commissioner Debbie Ingalsbe said. This fund has proven to be very beneficial putting Texas among the top states for business climate and has allowed the states leadership to support economic development projects in a changing economy."
At Gov. Perrys request the legislature created the TEF in 2003 and re-appropriated funding in 2005 2007 and 2009 to help ensure the growth of Texas businesses and create more jobs throughout the state. The fund has since become one of the states most competitive tools to recruit and bolster business. To date the TEF has invested more than $383 million and closed the deal on projects generating nearly 55587 new jobs and more than $14 billion in capital investment in the state.
For more information about the TEF please visit
http://www.texaswideopenforbusiness.com/financial-resources/texas-enterprise-fund.html or
www.governor.state.tx.us.
