Res 37-2026 facilitating a planned expansion of their current facility at 1600 Fisher 04/07/2026 Resolution No. 37-2026
Resolution approving the programs and expenditures of the Wichita
Falls Economic Development Corporation (WFEDC, 4A) by authorizing
funding up to $640,000 to WPT Power Corporation, to assist in
facilitating a planned expansion of their current facility at 1600 Fisher
Rd.
WHEREAS, Texas Local Gov't. Code § 501.073(a) provides "The corporation's
authorizing unit will approve all programs and expenditures of a corporation and annually
review any financial statements of the corporation"; and,
WHEREAS, on March 26, 2026, the Wichita Falls Economic Development
Corporation's Board of Directors approved the project.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF WICHITA FALLS, TEXAS, THAT:
The project described above of the Wichita Falls Economic Development
Corporation is hereby approved.
PASSED AND APPROVED this the 7th day of April, 2026.
MAYOR
ATTEST:
I
Deputy City Clerk
WICHITA FALLS ECONOMIC DEVELOPMENT CORPORATION
PROJECT SUMMARY
March 26, 2026
SUBJECT: Project USA Reshore
INITIATED BY: Moriah Williams
Overview.
WPT Power Corporation has been in operation since 1992 in Wichita Falls. They currently employ 30 full-time
employees. WPT has identified the need the need for an expansion that would construct a 10,000 square foot
manufacturing facility, upgrade equipment, and create 12 new full-time positions over the next 3 years,
allowing WPT to move additional assembly processes from Shanghai, China to Wichita Falls. WPT pays an
average annual wage of$73,350.
The Project:
10,000 square feet expansion with a new product line will be added to the existing plant, retention of all
existing full-time employees (30), and creating 12 new full-time positions.
Local Incentive Proposal:
The company is requesting the following from the Wichita Falls Economic Development Corporation:
Forgivable loan in the amount of$550,000 paid out over two years and forgiven after 5 years. If benchmarks
are met, forgiveness will be granted by retaining all existing employees and by adding 12 new full-time
positions by the end of year 3.
Cash-for-jobs incentive in the amount of$90,000 paid out at a rate of$7,500 per full-time position created, up
to 12 positions, and based off average annual wages at the facility being $73,350 (149% higher than the
average annual wages in Wichita Falls) and once the employee has been employed at the plant for at least 6
months or more.
Recommendation:
We recommend that a forgivable loan be paid out to WPT Power in the total amount of$550,000, paid out to
the company over two years, with proof of investment, and forgiven over 5 years for retaining all current
employees and hiring 12 new full-time employees. A cash-for-jobs incentive not to exceed $90,000 paid out at
a rate of$7,500 per new full-time position created, once the employee has been employed by WPT for a
minimum of 6 months.
WPT P.O.Box 8148
Wichita Falls,TX 76307
940-761-1971 P
POWER info@WPTpower.com
www.WPTpower.com
January 5, 2026
Dear Wichita Falls Type A Board,
I am writing on behalf of WPT Power Corporation, a leading provider of innovative power transmission solutions serving
industries such as manufacturing, energy, utility, mining, marine and agriculture,to formally request consideration for a
forgivable loan and property tax abatement to support our expansion and growth within Wichita Falls. As a committed
member of the community,we are eager to further our investment in Wichita Falls and contribute to its economic
vitality.
WPT Power has been in operation since 1992 in Wichita Falls, currently employing 30 local individuals and generating an
annual payroll of$2.6 million, annual property taxes of$40,000, annual inventory taxes of$38,000. We are planning a
significant expansion project that includes constructing a new 10,000 sq ft manufacturing facility, upgrading equipment,
and creating 12 new jobs over the next 3 years. The initial projected investment for this expansion is$2M, allowing WPT
Power to move additional assembly processes from Shanghai, China to Wichita Falls,Texas. This initiative will not only
strengthen our operations but also bring substantial benefits to the local economy, including increased employment
opportunities, enhanced tax revenues over time, and support for local suppliers and businesses.
To facilitate this expansion,we respectfully request:
• A forgivable loan in the amount of$640,000 to cover initial construction costs and equipment purchases.
The loan would be forgivable upon meeting agreed-upon milestones,such as job creation targets and
investment thresholds.
• A property tax abatement for 10 years on the new facility,which would help offset startup costs and
ensure the project's viability.
We believe this support aligns with the board's mission to foster economic development and job growth in Wichita Falls.
WPT Power is happy to provide supporting documents, upon request, including our business plan,financial projections,
and a detailed economic impact analysis demonstrating the long-term benefits to the community. We welcome the
opportunity to meet in person to discuss this proposal further and address any questions from the board.
Thank you for considering our request.We look forward to partnering with the Wichita Falls Type A Board to drive
prosperity in Wichita Falls. Please feel free to contact me at(940)761-1971 or byron.baber@wptpower.com to schedule
a discussion.
cerely,e.---
-Byron a er
Vice President
WPT Power Corporation