The Lubbock Economic Development Alliance (LEDA) announced the creation of 95 new jobs at a press conference Monday afternoon. The additional jobs come as a result of the expansion of two local businesses in the Lubbock community.
Shearer's Foods, Inc. and Tyco Fire Protection Products (Tyco) will both expand their current Lubbock locations.
"On behalf of the board and staff at LEDA and Market Lubbock, we would like to congratulate Shearer's Foods, Inc. and Tyco on the expansion and continued success of their businesses," John Osborne, CEO of LEDA and Market Lubbock, said. "The jobs created will have a tremendous impact on the local economy."
Shearer's Foods, Inc. has grown from two plants to six plants since moving to Lubbock years ago. In that time, the company has invested around $35 million in new capital investment and hired more than 200 employees in Lubbock. Shearer's Foods, Inc. is planning another expansion at their Lubbock location with the addition of 14 new jobs over the next five years. These jobs will result in total combined salaries of $447,614 and a capital investment of $2.6 million.
"LEDA has been an outstanding partner as we ramp up our business, and they have been proactive and helpful while responding to our needs," Jay Shestokes, plant manager for Shearer's Foods, Inc., said. "This expansion continues to solidify our business in the local community, and we will continue to invest in our Lubbock location."
Tyco, a global leader in fire suppression technologies, produces fire protection, detection and mechanical building solutions for commercial, industrial, institutional, governmental and residential customers. The Lubbock plant is the No. 1 producer of fire sprinklers in the United States and the world. Over the next five years, Tyco will create 81 new jobs resulting in total combined salaries of $2,290,775. Tyco will also invest $3.15 million in new equipment over the next year.
"To meet a steady increase in demand, Tyco is ramping up production of fire sprinklers with plans to produce new products at our Lubbock location," Lionel Buenaventura, director of operations, said. "We appreciate the partnership with LEDA that has provided the support needed for Tyco to maintain its competitive edge."
In total, these companies will invest more than $5.75 million in new capital improvements. Jobs created from their projects will provide more than $2.7 million in new, annual salaries. Once fully operational, the total value added impact (change in Lubbock County's Gross Regional Product) will be $10.2 million annually.