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Paris Economic Development Corp. officials display a Community Economic Development award presented by the Texas Economic Development Council. From left, Michael Paris, Mihir Pankaj, Timothy Hernandez, Shay Bills and Marion Hamill.

After meeting behind closed doors for more than two hours, Paris Economic Development Corp. directors Thursday afternoon approved roughly $2.5 million in cash incentives to lure three manufacturing companies to Paris with a promise of about 200 jobs in return.

The three companies also have access to seven year de-escalating tax abatements from the city and county as well as access to state and federal tax credits, according to the economic development corporation’s executive director, Michael Paris.

“This was a very productive meeting, and we are looking forward and hopeful these prospects will come to fruition,” board chairman Timothy Hernandez said.

Prospects are identified as Project Iron Shovel, Project Rocket X and Project Rainwater Falls.

Project Rainwater Falls is a Portland, Oregon, company that does injection molding of plastic products. Plans call for the construction of a 200,000-square-foot facility somewhere inside Loop 286 with a promise of 125 jobs, Paris said. Incentives approved include $1 million in cash for jobs and another $500,000 for rail development. 

Project Iron Shovel, an American airplane engine company, is looking to locate a 100,000-square-foot facility at Cox Field and employ about 50 people, Paris said. Incentives approved include $500,000 in cash for jobs.

Project Rocket X, a tire manufacturer from Indiana, looks to locate a 200,000-square-foot building off Northwest Loop 286 in the Industrial Park. Plans are to manufacture trailer tires with roughly 25 employees. Incentives include $140,000 cash for jobs and a forgivable loan for land valued at roughly $200,000.

In addition to the five board directors, Paris Mayor Steve Clifford, Mayor Pro-Tem Paula Portugal, Paris Interim City Manager Gene Anderson and Lamar County Chamber of Commerce executive director Paul Allen were present at the meeting.

Mary Madewell is a staff writer for The Paris News. She can be reached at 903-785-6976 or at mary.madewell@theparisnews.com.

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