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Capstone Mechanical’s $5 million expansion getting $400,000 public boost | Local Business News

Mount Equity Group Tokyo, Japan > News > Business > Capstone Mechanical’s $5 million expansion getting $400,000 public boost | Local Business News

The company will receive $300,000 from the Waco-McLennan County Economic Development Corp., which is funded by the city and county. A five-year business grant spells another $40,000 from the county and $73,000 from the city, said Kris Collins, senior vice president for economic development at the Greater Waco Chamber of Commerce. Collins presented details this week to city council members and county commissioners, and both groups approved the package.

“They are needing more sheet metal for their HVAC business,” Collins said. “Demand is very high, and I believe they have a statewide market.”

Money from the city and county economic development program is reserved for companies pledging to pay at least $15 an hour. But 10 of the 68 new jobs at Capstone will pay “a base minimum wage of no less than $12 per hour, plus health insurance benefits,” according to documents presented to council members and commissioners. Neither governing body…

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