Council approves incentives for Project Victory, to be known as Nexio, promising headquarters and manufacturing jobs

After an executive session under Section 551.087 of the Texas Local Government Code for economic development negotiations, the Lufkin City Council approved incentives for a project introduced as Project Victory, which staff said will be known as Nexio.

Bob Sanford, the city's economic development director, told the council that Nexio "provides green, sustainable, and efficient solutions for commercial vehicles, use utilizing alternative fuels and propulsion systems, including propane, renewable propane, and hydrogen." Sanford said if approved, Nexio's corporate headquarters, engine assembly, transmission integration and vehicle uplift would be in Lufkin’s industrial park. The project would initially take 35 acres with space for future expansion and access to the A and R Railroad.

Sanford described a proposed building "not to exceed $10,000,000 with a lease to own contract for 15 years with Nexio." He said Nexio is contractually obligated to contribute $2,000,000 in improvements to the building and that the company "proposes to employ over 300 full time employees over the next 5 years after the facility's final construction." Sanford noted the Lufkin Economic Development Corporation (LEDC) 4B committee voted unanimously in favor of the incentive package before presenting it to council.

Council received the presentation, heard a motion and a second, and approved the incentive package by voice vote. Staff said the incentives would proceed per the terms presented; council did not discuss specific dollar figures of the incentive package on the public record during the meeting transcript provided.