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City approves EDC support for NewCo Controls expansion, plan includes forgivable loan and job incentives
Summary
Council approved an EDC-backed performance agreement to assist NewCo Controls LLC in expanding local operations with a multi-part financial support package that includes forgivable loan installments and job-based incentives tied to retention and wage requirements.
The City Council approved a resolution on July 1 authorizing Wichita Falls Economic Development Corporation (EDC 4A) assistance to support an expansion by NewCo Controls LLC that city and chamber officials said will add local manufacturing capacity aimed at the data-center market.
Mariah Williams of the Wichita Falls Chamber of Commerce described the project as an expansion into an 81,000-square-foot building with about 60,000 square feet of additional growth planned. Williams…
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