At its meeting on Tuesday, Jan. 9, the Willow Park City Council approved a 380 economic development agreement with Wilks Development. This allows for the relocation of the headquarters of Profrac Holdings to Willow Park.
Profrac already has offices in the Shops at Willow Park, but this agreement will bring their entire headquarters to the city in the same area as their current offices. City Manager Bryan Grimes announced the company plans to build a 60,000 square-foot building and bring around 200 new jobs to the community.
Profrac primarily operates in the hydraulic fracturing wells industry within the oil and gas sector.
“The instant economic impact is priceless,” Grimes said. “You can’t put a price tag on 200 people looking for lunch on a Tuesday.”
Grimes said the city will pay up to $300,000 in incentives to help facilitate the agreement. Of that, $150,000 will be paid in the first six months and the rest upon certification of occupancy.
“This is not cash up front,” Grimes stressed. “This council values performance-based incentives.”
No official date has been announced for start of construction.
“What it will do for us is great,” Mayor Doyle Moss said, noting the influx of new workers will also bring a financial boon. “Two hundred people, that’s a lot of money.”
More details will be available in the Jan. 12 issue of The Community News.
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