GlobiTech recently put the finishing touches on an $18 million upgrade to its Sherman facility and the Sherman Economic Development Corp. made its final incentive payment to the company.
SEDCO President John Plotnik presented GlobiTech President Mark England with a $450,000 check earlier this week to fulfill the corporation’s $900,000 incentive agreement.
“GlobiTech appreciates the support we have received from SEDCO dating back to our beginnings and through the years as we have grown to be the largest silicon wafer epitaxial facility in the world,” England said via email. “We look forward to the potential for continued growth and support as Sherman is a great place for manufacturing with a strong labor force, community support and amenities. Sherman is also the long term home of many of our employees.”
In March 2015, the SEDCO board initially approved a $480,000 incentive to entice GlobiTech to move forward with a $9 million upgrade to its local plant rather than use that money on a facility overseas. Shortly there after, the company’s corporate executives decided to increase the upgrade and the SEDCO board approved, in May 2015, a $900,000 incentive for the creation of 20 new jobs and an $18 million investment from the company. Near the end of that year, the SEDCO board agreed to extend the incentive agreement through the end of 2016.
“We greatly appreciated not only their expansion, but their kind remarks regarding SEDCO’s activities and assistance in helping GlobiTech in their expansion,” Plotnik said. “GlobiTech was very pleased with not only the economic and business environment of Sherman, but also the availability of labor that they were looking for and just the pro-business attitude that the public and private leadership shows.”
Plotnik also said GlobiTech leaders stated the Sherman facility was the company’s largest plant and Sherman would “certainly” be considered should they consider further expansions in the future. With the 20 new positions added as part of the company’s local investment, the silicon-epitaxy manufacturer now employs 195, which puts it as 15th largest employer in Sherman on the SEDCO website.