Mesquite, TX-based Fritz Industries Inc., a manufacturer of products used in drilling and cementing, and stimulation fluids used by oilfield service companies, is opening a manufacturing and office facility in Greenville, TX.
With an $800,000 investment from The Texas Enterprise Fund, Fritz Industries becomes part of a deal slated to “create hundreds of jobs in Greenville, pump millions of dollars in capital into the local economy, and further strengthen our state’s economy,” Texas Governor Rick Perry said August 21, announcing the openings. It is expected that Fritz Industries will create 250 jobs and bring $37.5 million in capital investment to the area.
"Fritz Industries is an employee-owned, Texas-based company, and we are proud to make this significant investment in the city of Greenville," Fritz Industries president and CEO Dan Montgomery said. "This Texas Enterprise Fund investment will help build a state-of-the-art facility that is critical to introducing new initiatives in the oilfield industry and will create employment opportunities for Greenville residents."
The Legislature created the TEF in 2003 and re-appropriated funding in 2005, 2007, 2009, 2011 and 2013 to help ensure the growth of Texas businesses and create more jobs throughout the state. TEF projects must be approved by the governor, lieutenant governor and speaker of the House. To date, the TEF has invested more than $498.9 million and closed the deal on projects generating 69,277 new jobs and more than $20.8 billion in capital investment in the state.