Paris, TX — Blossom Aerospace announced plans to expand in Lamar County. The aerospace manufacturer invested $3 million in new equipment and projects growing up to 70 new jobs over the next few years to keep up with the increasing demand for their products.
“We are pleased to have the opportunity to expand our company’s (Crosslake Machining) capabilities with our recent investment in Blossom Aerospace. Our goal is to continue and expand upon the Bounds family’s legacy as the company’s founders,” states Jeremy Brummett, Crosslake’s V.P. of Operations.
A cornerstone for the community that the business is named for, Blossom Aerospace (formerly Blossom Machine) was recently acquired by a new investor focused on growing the business. The company will continue producing components for aerospace applications and requires expansion based on future commitments.
PEDC Chair Josh Bray stated, “Blossom Aerospace has been an integral part of Blossom and Lamar County for decades. We believe that the recent acquisition of the company by Crosslake will allow them to continue their growth for many years and propel them to a higher level. Supporting their growth aligns with the PEDC’s priorities of business retention and expansion.”
In order to encourage the company to stay in Lamar County, the PEDC proposed a performance-based agreement where Blossom Aerospace would commit to keeping their operation within Lamar County over the next six years, retain their existing employees, and hire up to another 70 employees over the next five years. In return, the PEDC has committed to support the company with up to $350,000 for new job creation.
“Blossom Aerospace’s expansion is a win for our community that will generate over $20 million in new payroll over the next 7 years,” said Maureen Hammond, PEDC Executive Director. “Their investment in Lamar County supports a growing industry in advanced manufacturing and aerospace within the region and further diversifies our expanding employment base.”
While the main goal of the PEDC is to attract and retain new jobs in Paris, the organization also realizes the benefits in assisting businesses in Lamar County. The local economy does not stop at Paris city limits, as many of the employees working at Lamar County businesses live and spend money in Paris. The PEDC works to grow the region, and has supported businesses such as Blossom Aerospace, Metro Gate and Delco Trailers. Learn more about how the PEDC can help potential businesses here: http://parisedc.com/financial-incentives/.
For more information, please contact Chris Stout at the PEDC at (903) 784-6964 or firstname.lastname@example.org.
Paris Economic Development Corp.