Two Wichita Falls businesses get incentives

WICHITA FALLS – The Wichita Falls Economic Development Board plans to distribute more than $1 million in funds to two local businesses in cash-for-jobs incentives.

One business, Tobol Industries, plans to open a recycling and warehousing center that focuses on recycling heavy metals on 17 acres at the former Saint Gobain/Vetrotex property at 4515 Allendale Rd.

The business would employ 24 new workers, and in a cash-for-jobs incentive could receive up to $196,750 if it kept the employees for a minimum of six months.

The second company to receive some incentives from the WFEDC is Blue Cross Blue Shield (BCBS), in an effort to keep them in business in Wichita Falls for at least six more years. The local call center currently employs 335 full-time jobs.

Of the allotted $850,000 to BCBS, WFEDC will put $670,000 on a six-year term forgivable loan to help with repairs to the building. The remaining $150,000 could be allocated to BCBS for 50 new full-time positions at $3,000 per position.