Waco: Council Approves Incentives for Custom Trailer Factory Project
Feature Photo (above): A partial view of the manufacturing plant at the Aspen Custom Trailers factory in Leduc, Alberta. Image: Google Streets.
by Adolfo Pesquera
Waco (McLennan County) — City Council approved three contracts that provide incentives for the construction of a 58,000-square-foot industrial building that will be used by a Canadian-based custom heavy hauler trailer manufacturer.
The contracts, which include two tax abatement agreements and one grant, will be shared by the real property owner/developer and the future tenant. The council approved the contracts by resolution at their July 7 regular session.
Timber US Inc., an Austin-based company that was incorporated in April 2019, purchased a 16.9-acre site in November 2019 for the purpose of providing a future manufacturing facility site for Aspen Custom Trailers US Inc., the United States subsidiary of a company based in Leduc, Alberta, Canada.
Google Earth satellite view of the Aspen Custom Trailers factory in Leduc, Alberta.
The tax abatements affect the value of the real property investment to be made by Timber US and the personal property investment to be made by Aspen Trailer.
Construction of the facility is expected to begin this summer and reach completion by December 2021. If it is similar to the factory that Aspen Custom Trailers operates in Leduc, it will be a high-ceiling metal structure on a concrete foundation.
Timber US plans to build in phases, with Phase 1 and 2 occurring this year and next at a cost of $6,865,000. There is an option for a Phase 3, which would be an additional $1,380,000.00 within one year of completion on the original building.
For its part, Aspen promises to invest $1.4 million in personal property in Phases 1 and 2, and an additional $1,625,000 for Phase 3. The manufacturing plant would employ 49 workers when it opens, and up to 70 workers total after the Phase 3 expansion.
The third contract is a $350,000 grant from the Waco McLennan County Economic Development Corporation. A second grant of $150,000 is included, but contingent on the execution of Phase 3.
The project site is located at 2301 Texas Central Parkway, on undeveloped land at the southwest corner of Texas Central and Gateway Boulevard, just north of the Caterpillar Logistics distribution center.
Aspen specializes in the manufacture of flatbed heavy haulers, super haulers and other haulers used in oil fields, mining and other special purposes.
Adolfo Pesquera (Reporter/Editor) is a veteran news journalist. He has worked for Hearst Corp., American Lawyer Media, News Corp and Freedom Communications. His work has been published in newspapers and magazines across the USA. He is a journalism graduate of UT-RGV. He writes, edits and creates digital pages for VBX.