The Dayton City Council on Sept. 21 adopted a resolution authorizing an Incentive Agreement for Business and Commercial Development between the Dayton Community Development Corporation (DCDC) and Colgan-Wilson Metals, LLC, which is doing business as Colgan Industries.
DCDC will provide up to $20,500 in incentives to reimburse Colgan Industries for permitting, construction costs, equipment, and relocation costs associated with the project. Per the agreement, Colgan Industries will invest at least $1.9 Million in the project.
In January 2020, the Dayton Community Development Corporation and the City of Dayton adopted Dayton’s first Incentive Policy. This policy utilizes quantifiable project information to calculate the total value of incentives based on the project’s direct impact to the City of Dayton. It ensures that the total amount of incentives does not exceed the project’s return on investment to the community. While DCDC is working on many projects using this process, Colgan Industries is the first to be awarded incentives through this process.
DCDC Board President Wendell Null said, “A project like this allows the City of Dayton to expand our tax base, create quality jobs, and bring a vacant building back into productive use.”
Colgan Industries will operate at the industrial complex at 825 Klemp Road Dayton, Texas, which has been vacant for several years after AMICO closed its plant in Dayton.
Ann Miller, executive director of the Dayton Community Development Corporation, is excited about this project, and the company expects to open in the next few months.
“Colgan Industries will provide new employment options for our residents, paying a higher wage than the average wage in Liberty County,” said Miller
As part of the agreement, Colgan Industries will employ at least 15 full-time employees by the end of 2021, with each earning at least $71,000 annually. Colgan Industries will maintain these employees through December 31, 2026.
The Dayton Community Development Corporation approved the agreement in June 2020; however, Council postponed authorization until the project had finalized everything on their end.
“This project represents what I hope will be the first of many industrial and commercial development projects to utilize our new Incentive Policy and streamlined process to bring new investment and jobs to the Citizens of Dayton. I want to thank Colgan Industries for choosing to invest in Dayton, Texas,” stated Mayor Caroline Wadzeck.
Additionally, as part of a partnership, the Dayton Community Development Corporation will pay the first year membership dues of Colgan Industries to the Dayton Chamber of Commerce.