Recently, TPCO America Corp., a subsidiary of China-based Tianjin Pipe (Group) Corp., announced that they intend to build a $1 billion pipe facility near Gregory, Texas in San Patricio County. This is reported to be the largest single manufacturing investment by a Chinese company in the U.S.
So, what kind of economic impact will this facility have on the several small communities in the area like Gregory, Portland, Ingleside, Aransas Pass, Rockport and Sinton, you might ask….. According to J.J. Johnson, who is the regional vice-president for Business attraction and external marketing with the Corpus Christi Regional Economic Development Council, “We’re looking at 300 jobs in the first two years, and double that in the fourth and fifth year. And those are direct jobs, not construction jobs, of which I think hundreds will also be created.” The facility is estimated to have a $2.7 billion impact on the area economy in 10 years.
The Gregory facility is expected to manufacture up to 500,000 metric tons of seamless pipe for the oil and gas extraction and production industry, according to a recent report published by the Texas Comptroller’s Office. The facility is probably 2 and a half years away from producing pipe, but construction is reported to begin as early as September of this year.
This news brings renewed excitement to the area and opportunities for investors in the single family and multi-family housing market looks promising. Visit our Ingleside office, located at 2491 State Highway 361, in Ingleside, Texas (78362) to discuss all of your real estate needs. Or call our office at 361-776-3550 or visit us on the web at www.ronbrown.com
This article is provided courtesy of Coldwell Banker The Ron Brown Company.
www.rockporttexasrealestate.com