VICTORIA, TX-Caterpillar Inc. will build its new hydraulic excavator manufacturing facility in this South Texas town of 90,000 residents. The Peoria, IL-based company, which manufactures construction and mining equipment, as well as diesel and natural gas engines and industrial gas turbines, will break ground on the 600,000-square-foot facility next month.
Caterpillar received $1.18 million from the Texas Enterprise Fund (TEF) for the expansion. The Fortune 100 company is committed to creating 238 jobs through the TEF investment, and expects to generate more than 500 jobs total. The company will also generate more than $100 million in capital investment with this expansion.
"Based on our comprehensive review of possible locations, Victoria's proximity to our supply base, access to ports and other transportation, as well as the positive business climate in Texas made this the ideal site for this project," according to a statement from Gary Stampanato, Caterpillar vice president with responsibility for excavators.
“This would be a huge deal for any community, but is especially a huge deal for a city the size of Victoria,” says Lee Swearingen, president of Coldwell Banker Commercial – The Ron Brown Co. “We have an existing base of petrochemical companies, as well as oil and gas-related companies, that complement Caterpillar’s operations.”
Known as the South Texas Crossroads, Victoria is one of the oldest cities in Texas. Highway 77, 87 and 59 (the future I-69) all intersect in the city, which serves as a cultural and economic hub for seven surrounding counties.
Victoria is in the geographic center of Texas and within a two-hour drive of Austin, Houston and San Antonio. The city was designated by the U. S. Congress as an intersecting point for two proposed interstate projects to the Rio Grande Valley and the Mexico border.
The Victoria Barge Canal is a 35 mile long waterway that con
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