Under the performance grant, Indevco must reach 59 jobs and invest $4.5 million before Dec. 31 to receive a $150,000 check from LEDCO. Indevco would receive $125,000 payments during each of the next two years if it reaches 65 workers and invests $3 million by Dec. 31, 2020, and then reaches 70 workers and invests another $2.5 million by Dec. 31, 2021.
Indevco Plastics is part of the multinational Indevco Group, based in Lebanon, TX. Member companies of Indevco Group sell a broad array of packaging to petrochemical companies in more than 40 countries. “The company utilizes a seamless supply chain to produce and deliver form-fill-seal, heavy-duty sacks, PE (polyethylene) roll stock, stretch hood film and shrink collation to a range of industries,” according to a written statement. The company launched its Longview manufacturing facility in 2015 under a past LEDCO incentive deal that required Indevco to create 18 jobs and invest $13.2 million into the facility within four years, but it reached those goals in half the time, Mansfield said in 2017.