North / South America
U.S. Concrete to move headquarters to Euless
Apr, 30 2012
(Texas) -- U.S. Concrete, a producer of ready-mix concrete and precast concrete products, will move its headquarters from Houston to Euless, becoming the only publicly traded company based in the Northeast Tarrant County city, officials said Wednesday.
The company already employs 250 workers at a regional headquarters for its Redi-Mix subsidiary at 331 N. Main St., which the city built for the company. U.S. Concrete is expected to add 45 professional-level jobs with the relocation, which is expected to be completed by July 1.
"Redi-Mix has been a crucial business partner with Euless for many years, and we are excited to see them expand," City Manager Gary McKamie said.
Bill Sandbrook, U.S. Concrete's chief executive, said that the company has no operations in the Houston area and that moving to the Redi-Mix site will help the headquarters staff "become more aligned and responsive to both our customers and operating companies' needs."
Sandbrook also cited available space at the Euless facility, financial incentives from the city and proximity to Dallas/Fort Worth Airport as factors in the decision.
Euless put together a generous incentive package for Redi-Mix when it needed to expand several years ago.
The city built the regional headquarters, spending $4.9 million for a 27,551-square-foot building on 2.2 acres. Redi-Mix occupies the building rent-free as long as it generates a certain level of sales tax revenue.
Under a 25-year agreement, a portion of sales taxes from regional concrete sales are rebated to the company.
To attract the corporate headquarters, Euless committed $150,000 to help renovate the building and will give U.S. Concrete $2,000 per new job, up to 45 jobs, city spokeswoman Betsy Deck said.
U.S. Concrete went through a Chapter 11 bankruptcy reorganization in 2010.
By Steve Kaskovich
Hanley Wood LLC, the premier media, event, information and strategic marketing services company serving the construction industry and the U.S. Green Building Council (USGBC) announced today a strategic partnership whereby Hanley Wood has acquired the Greenbuild International Conference and Expo. More
SMC to spend $750M for 3 cement plants. More