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GEDC Awards Grants to TRITEC Performance Solutions; Adam AB Assets

Author: 
GEDC

Giddings, TX (October 8, 2018) - The Giddings Economic Development Corporation has announced two separate grant awards, each totaling up to $10,000.

Adam AB Assets Inc. is the intended recipient of a $10,000 grant to offset the cost of demolition and asbestos abatement for the nursing home building located at 1747 East Hempstead and the marketing of the property for re-development. 

The building has already been demolished and the property cleared at a cost of approximately $110,000; however, the funds will not be made available to the company until a performance agreement between the GEDC and the company has been signed.  The terms of the agreement are expected to include the owners’ commitment to maintaining the existing property according to city code and actively promoting the property to potential developers. 

“Blight elimination and improving public safety are worthwhile goals and the removal of the building was a big step toward that end; however, our funds must foremost be used to enhance the Giddings’ economy. Now that the property is ready for re-development, we want to ensure that it is maintained and aggressively marketed with the goal that our collective efforts will bring new business to Giddings,” stated Tonya Britton, GEDC Executive Director.

The second award of up to $10,000 was made to TRITEC-Texas, a Lee County-based manufacturing company that long-operated as Leeco Industrial Plastics, Inc. until its acquisition by TRITEC Performance Solutions (TPS) this past May.  TPS is an Edgewater Capital Partners ("Edgewater") company located in Swartz Creek, MI.

The award is designed to aid in the retention of Giddings-area employees, while facilitating the company’s smooth transition from a family-owned and operated business to one with corporate oversight and rapid expansion goals.  TRITEC-Texas employs approximately 65 employees. The company has thus far retained its existing workforce, and has added several new positions, including a Comptroller and CEO.  

The Giddings City Council approved the award, however, because the company is located outside of the Giddings city limits, the GEDC must seek approval from the Lee County Commissioner’s Court in order to solidify the award.
 

The funds may be used for a variety of activities, including job training, staff development consultants or mentors, plant or industry tours, new employee recruitment, and trade show attendance.  The activities must be related to workforce development, retention or recruitment and the use of funds must be included in a performance agreement, the details of which must be agreed upon prior to the GEDC seeking county permission. 

The offer for assistance is time-limited and a performance agreement must be in place within 90 days of city council’s approving the award. 

“We are looking forward to strengthening our relationship with TRITEC’s team and I’m pleased that we were able to respond to the company’s request for assistance so quickly and with such flexibility.  We’ve already been able to provide them with the opportunity to attend a contract manufacturer’s trade show in Arlington and have coordinated opportunities for members of their team to speak to industry mentors with experience in change management and acquisitions.   We are also now working with Blinn College to secure additional training grants through the Texas Workforce Commission’s Skills for Small Business program,” Britton said.

The GEDC previously partnered with the company in 2016 when the GEDC coordinated with graduate students enrolled in Texas A&M Health Science Center School of Public Health, Department of Environmental and Occupational Health, who conducted ergonomics assessments and provided recommendations for improvements to several Giddings’ area companies, including Leeco Industrial Plastics.