December 20, 2018
Foster Electric announced plans to add an automotive speaker factory to its East El Paso distribution facility by 2020. The factory will be the company’s only one in North America, and will create 40 jobs in the area. Foster Electric currently employs 32 at its distribution facility at 1216 Don Haskins Dr.
The company will receive $286,633 in city and county tax rebates over 10 years, as long as it invests at least $4.25 million in the facility, and creates at least 40 jobs by 2022. The rebates, while welcome, didn’t really play a part in the decision, according to Foster Electric U.S.A., a subsidiary of Foster Electric.
The reasons for placing the factory in El Paso ranged from the city being “the largest economic and commercial zone along the border area,” to a skilled labor force, central location, business resources and community character, said Jose Rangel, Foster’s vice president of El Paso operations.
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