11:14 am CST - November 22, 2010
Posted under On The Record
Texas Insider Report: SAN ANTONIO, Texas – Gov. Rick Perry today announced a $3.1 million investment through the Texas Enterprise Fund (TEF) in PETCO Animal Supplies Inc., which will establish a satellite support center in San Antonio as an extension of the company’s national support center. This investment will create 400 jobs and generate an estimated $17 million in capital investment.
“This TEF investment in PETCO will create hundreds of jobs, pump millions of dollars in capital investment into the area, and further expand San Antonio’s diverse economy,” Gov. Rick Perry said.
“Companies like PETCO are looking to Texas as the premier location for business relocation, expansion and job growth thanks to our low taxes, reasonable and predictable regulatory climate and skilled workforce.”
PETCO is a leading pet specialty retailer, with more than 1,000 stores in all 50 states and the District of Columbia. As a result of its strong growth and performance, the company is creating a satellite support center to perform various business support functions in a location that offers reasonably priced real estate, a dynamic, skilled labor pool and a high quality of life.
“The Texas Enterprise Fund, along with support from various state, county and city leaders, was an important factor in our decision. We look forward to opening the facility next year and expanding PETCO’s presence as an engaged corporate citizen in San Antonio.
“To add a great corporate partner like PETCO during a global economic downturn is a testament to the strong economy and business friendly environment that exists in San Antonio and the State of Texas,” San Antonio Mayor Julián Castro said.
The Texas Legislature created the TEF in 2003 and re-appropriated funding in 2005, 2007 and 2009 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. The fund has since become one of the state’s most important tools to recruit and bolster business.
To date, the TEF has invested more than $418.9 million and closed the deal on projects generating 55,427 new jobs and more than $14.6 billion in capital investment in the state.
For more information about the TEF, please visit http://www.texaswideopenforbusiness.com/financial-resources/texas-enterprise-fund.html or http://www.governor.state.tx.us.