California-based VPET USA Inc., a food-grade plastic bottle manufacturer, has expanded its operations to Texas with a 167,500-square-foot facility in Garland, which brings yet another manufacturer into the city.
“They have a significant customer base in Texas and they got in and got up pretty quickly,” David Gwin, the economic development director for Garland, told the Dallas Business Journal.
The manufacturer began operations a few months ago at 3839 Distribution Drive and were offered an incentive package from the City of Garland as part of the real estate expansion. The deal is for business personal property only. If the company keeps a minimum of $3 million in business personal property, they will get a 75 percent tax rebate for the first five years.
If VPET USA adds another $1.25 million to the tax rolls in business personal property, Garland will kick in an additional tax abatement of 25 percent.
In all, VPET USA will bring 50 full-time jobs to Garland. The company plans to invest at least $16 million for the expansion.
“We cut our teeth on the manufacturing industry as a city and there’s been a real renaissance of redeveloping older sites and bringing in new companies,” Gwin told me.
Ryan Wolcott of Dallas-based Stream Realty Partners represented VPET in its real estate search. Stream Realty Partners’ Seth Koschak and Eric Crutchfield represented Huntington Industrial.
Huntington Industrial Partners developed the facility for VPET USA and the firm already has two additional 135,000-square-foot facilities under construction in the immediate vicinity.
By: Candace Carlisle
SOURCE: Dallas Business Journal