GE to invest $8 million in gas equipment manufacturing facility
Energy giant GE is planning to invest $8 million through its GE Oil & Gas Inc. unit on the expansion of its manufacturing facility in Schertz, Texas, the San Antonio Express-News reported.
The facility produces equipment that is used in the natural gas extraction. At present, the plant occupies a 400,000-square-foot warehouse but production is expected to expand after the company announced that it would employ a further 175 workers. This will bring the total staff count to 400, with an annual payroll of approximately $16 million, or about $40,000 per employee.
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Meanwhile, the city of Schertz will invest about $200,000 to extend a road near the facility, explained David Gwin, executive director of the Schertz Economic Development Corp. GE Oil & Gas has already started construction works on expanding the facility, while the road extension is currently in the planning stages. City officials have promised to fast-track the permitting process, the newspaper said.
With the arrival of GE Oil & Gas in Schertz last summer, the city is becoming a local energy hub. Three other major energy companies have already started operations in the area over the past three years, with the city benefiting from over half a billion dollars in capital investments, Gwin told the San Antonio Express-News. The growth in the popularity of the region is linked to energy production in the Eagle Ford Shale.