The Amarillo EDC board approved new economic development incentives to companies that will add more than 125 jobs to the local economy.
On Tuesday, a $1.25 million grant to AIG, which will add 125 jobs to its Amarillo operation was approved. The grant will help pay for AIG's facility improvements, equipment, software and training for new positions in the company's Amarillo operations center.
The Amarillo EDC also approved a $750,000 grant to Receptor Logic. The company's lead researcher has invented a new class of antibodies that can seek out and destroy targeted cancer cells. The compnay will use grant funds to buy and install new equipment, furnishings and lab improvements.
Austin Distribution was also approved with a small business interest rebate of up to $100,000. Austin Distribution is an Amarillo company that manufactures, distributes and sells hydraulic parts and accessories. The funding will help the company finance its headquarters expansion and a computer upgrade to help track inventory and material pricing.
