Mineral Wells Index, Mineral Wells, TX

Top Stories

February 12, 2013

Community nearly loses research & development center

By CHRIS AGEE

A groundbreaking ceremony last October marked the beginning of PECOFacet’s $8 million Dunman Perry Research Center. Along with a 50,000 square-foot facility, the company estimates the project will create an additional 35 jobs in the communtiy.

According to local leaders and PECOFacet officials, Mineral Wells was very close to losing the economic benefits associated with the center.

Industrial Foundation recruiter Steve Butcher told the Index the expansion was nearly built on an Indian reservation in Oklahoma – a site currently occupied by PECO’s sister company, Facet International.

The company offered PECO favorable terms to relocate both media manufacturing and the research-and-development center, Butcher said.

Had that happened, he noted 70 existing jobs plus the 35 anticipated positions would have disappeared locally.

After working with PECOFacet for more than three years, Butcher explained the Industrial Foundation ultimately proposed a package accepted by all parties involved.

Since the company was seeking a consolodation into one center, Butcher said the Industrial Foundation agreed to “buy the two [local] facilities they were moving out of and give them market price so they don’t have to be in the real estate business.”

Additionally, he said, the city committed to applying for a Texas Capital Fund loan and an enterprise project designation for the new research and development center.

According to City Manager Lance Howerton, that designation has been received and Butcher noted the city has never been refused when applying for a TCF loan.

PECOFacet President Scott Thompson said the decision was difficult from a business standpoint, noting he had to make sure any final decision benefitted both the company’s bottom line and its employees.

He credited the Industrial Foundation and the City of Mineral Wells for their willingness to “stretch to the limits” in order to make the project feasible.

 

1
Text Only
Top Stories
  • Training to begin for CASA child advocates

    Although National Child Abuse prevention month is quickly coming to a close, the fight against child abuse is far from won.

    April 22, 2014

  • Genesys2.jpg S-TEC now piloted locally

    Roger Smith, CEO of Genesys Aerosystems, and his management team, saw a great opportunity for growth with the acquisition through a managed buyout of Chelton Flight Systems Inc. and S-TEC Corporation, doing business as Cobham Avionics, from Cobham.

    April 22, 2014 1 Photo

  • Rains bring end to burn ban – for now

    PALO PINTO – Weekend rains led Palo Pinto County Judge David Nicklas on Tuesday to temporarily lift the countywide burn ban.

    April 22, 2014

  • paperclip patent.jpg Paperclip invented locally?

    It is a staple of the office – the paper clip, a simple but elegant tool, a couple of bends of thin wire that helps keep us organized.

    April 21, 2014 1 Photo

  • bat workers.jpg New bat sanctuary to be ready in June

    Sometime around June, area bats will have a new place to hang out.

    April 21, 2014 1 Photo

  • David May named Index general manager-editor

    David May, a veteran newspaper executive who served 10-½ years as editor of the Mineral Wells Index, has been appointed general manager and editor of the newspaper, effective immediately.

    April 18, 2014

  • Social media part of PD’s varied arsenal

    Criminals seem to like bragging online of their misdeeds.

    April 18, 2014

  • Martinez cross.JPG Safe, but not home yet

    "Physical training is of some value, but godliness has value for all things, holding promise for both the present life and the life to come... Don't let anyone look down on you because you are young, but set an example for the believers in speech, in conduct, in love, in faith and in purity." – 1 Timothy 4:6 and 12.

    April 18, 2014 2 Photos

  • DSC_2415.jpg Baker 4B town hall meet set

    For those on the fence about the 4B election coming up on May 10, the Mineral Wells Chamber of Commerce is hosting a “townhall” meeting on April 22, from 6 p.m. to 8 p.m. at Mineral Wells High School in the cafeteria.

    April 18, 2014 1 Photo

  • MISSION MW!

    Mineral Wells  — Henry Ford is quoted as saying that, “Coming together is a beginning; keeping together is progress; working together is success.”

    April 17, 2014

Featured Ads
SmugMug


Click on a photo to see our SmugMug photos

Seasonal Content
AP Video
Bon Jovi Helps Open Low-income Housing in Philly Pipeline Opponents Protest on National Mall Hagel Gets Preview of New High-tech Projects S.C. Man Apologizes for Naked Walk in Wal-Mart New Country Music Hall of Fame Inductees Named 'Piles' of Bodies in South Sudan Slaughter New Yorkers Celebrate Cherry Blossom Blooms SCOTUS Hears Tv-over-Internet Case Justice Dept. Broadening Criteria for Clemency Chief Mate: Crew Told to Escape After Passengers 'Miss Meadows' Takes Holmes Back to Her Roots Biden: Russia Must Stop Talking, Start Acting David Moyes Out As Manchester United Manager Raw: Leopard Bites Man in India Iowa College Finds Beauty in Bulldogs High Court to Hear Dispute of TV Over Internet Stowaway Teen Forces Review of Airport Security
Hyperlocal Search
Premier Guide
Find a business

Walking Fingers
Maps, Menus, Store hours, Coupons, and more...
Premier Guide
Stocks
Parade
Magazine

Click HERE to read all your Parade favorites including Hollywood Wire, Celebrity interviews and photo galleries, Food recipes and cooking tips, Games and lots more.