Wichita Falls business expansion to create 30 new jobs

Published: Nov. 2, 2022 at 6:44 PM CDT
Email This Link
Share on Pinterest
Share on LinkedIn

WICHITA FALLS, Texas (KAUZ) - Almost $3 million of expenditures was approved by Wichita Falls City Council for a performance incentive for Pratt and Whitney Aerospace.

This will give them the opportunity to expand and grow their business by creating 30 new jobs at Pratt and Whitney Aerospace and generating $2.5 million in annual new payroll.

This is a multi-step process that will take a while to complete. The expansion will include a brand new product line in their existing facility, so they went to the Wichita Falls Economic Development Corporation asking for a forgivable loan. They received then the loan after getting approval from city council. Officials said this will have a huge impact on the local economy.

“By supporting these primary job creators like Pratt and Whitney or other manufacturers in Wichita Falls, it grows our economic base because you have more jobs, higher wages, more benefits, which brings up the expendable income that we have in Wichita Falls,” Taylor Davis, director of business retention and expansion for the Wichita Falls Chamber of Commerce, said. “It raises our average household income, which means you have more money to spend at your favorite local restaurants or favorite stores. At the very base of it, it raises our tax base here.”

Davis added that they expect to recuperate their loan in the first two years of Pratt and Whitney’s expansion.

However, because this is a multi-step process, Davis said they aren’t sure when Pratt and Whitney will finish their project to expand, but they are excited nonetheless.