GCU News & Blog

Tag: Business Expansion

  • Two Companies to Invest $49.4 Million in Denton, Create 222 New Jobs

    DENTON, Texas — In a move set to reshape Denton’s economic landscape, two major companies have announced plans to invest a combined $49.4 million in the city, a commitment that could bring more than 200 new jobs to the area.

    At the center of the plan is U.S. Cold Storage, a New Jersey-based company that distributes refrigerated goods for clients like Kraft and Butterball. The company plans to expand its existing facility on Jim Christal Road by 100,000 square feet, bringing its total investment in the area to $34.9 million. According to city records, the expansion would create 172 new jobs, with average salaries of just over $57,000.

    Denton officials are offering significant incentives to make that happen: a property tax abatement of 60 percent over eight years, and a sales tax rebate on construction materials, for a combined value of $1.07 million. In return, the city expects $1.4 million in new revenue, along with additional gains for Denton County and the local school district.

    Just down the road, Mayday Manufacturing, an aerospace parts manufacturer established in 1966, is planning a $14.5 million expansion at 3100 Jim Christal Road. The company, which was acquired by Esco Technologies in 2016 (NYSE: ESE), says the project is expected to create 50 new jobs with an average annual wage of $54,020, bringing its total Denton workforce to 450. Mayday has applied for a 60 percent property tax abatement over 10 years and a Chapter 380 economic development grant of up to $577,944. The Denton Economic Development Corporation Board has recommended approval, and city officials expect the incentives to pay off within four years.

    City analysts project that both investments would pay off in under a decade. But neither company has publicly commented on the plans, raising questions about transparency and public benefit ahead of a June 3 City Council vote.

    For Denton, the stakes go beyond job numbers. The decision reflects a broader challenge: how to attract and retain major employers without overcommitting public funds, and how to ensure that growth reaches the communities that need it most.

  • Aerolane Sets Up Headquarters at Fort Worth Alliance Airport

    Aerolane, a fresh face in aviation, is setting up shop at Perot Field Fort Worth Alliance Airport in the northern reaches of Fort Worth. They’re all about making air cargo more efficient with their cool new towed cargo glider technology, which promises to cut costs in air transportation.

    Right now, Aerolane is working on getting the necessary FAA certification to tweak aircraft designs. They’re moving into a 10,000-square-foot space at Alliance where they’ll also be putting together a custom aircraft designed specifically for their glider technology.

    Todd Graetz, CEO and co-founder of Aerolane, describes their technology as a “sky train,” where existing aircraft are modified to tow gliders, akin to a train with a locomotive and cars or a truck hauling trailers. They’ll kick things off with current planes and, once everything’s running smoothly, transition to custom-built cargo gliders tailored to different aircraft types.

    Chris Ash, who leads aviation business development at Hillwood and Perot Field, is confident in Aerolane’s promising future. He believes their innovative approach could significantly impact transportation and mobility, positioning them as a transformative force in the industry.

    Handling close to 2.5 billion pounds of cargo every year, Perot Field Fort Worth Alliance Airport is a major hub in the logistics industry. It’s a hub for innovation, hosting companies like Wing to test delivery drones in its Mobility Innovation Zone. Plus, AllianceTexas, Hillwood’s massive 27,000-acre development that includes Perot Field, made a whopping $10.21 billion impact last year.

    Graetz is excited about the choice of Alliance for their headquarters, thanks to the plentiful space for expansion. They’ve already secured their first major client, a well-known cargo airline, which plans to start using their technology by year’s end. Graetz foresees Aerolane increasing its team to roughly 50 staff members at Alliance as they scale up their activities.

    Chris Ash also pointed out that AllianceTexas is home to over 570 companies, mostly logistics and distribution centers. Hillwood aims to foster a thriving ecosystem that boosts air mobility and logistics. He sees Aerolane’s innovations as potentially transformative for companies transporting goods through the skies.

  • Why It Makes Sense to Set Up Your Business in Bangkok’s Capital City

    Location is a key factor in real estate investment. If you’re looking to start a new business or relocate an existing one, picking the right spot is imperative. The same goes for planning to expand or move. In the U.S., Dallas is a booming real estate and business hub, while international cities like Bangkok also offer prime locations that have drawn in many big companies.

    It’s easier to find Bangkok office for rent options compared to other cities in Thailand. If you’re planning to move or start a business, here are some things to keep in mind when choosing a location or setting up a business in this city

    1. It Means Better Accessibility

    First and foremost, you want it to be easy for your staff to find their workplace, but it’s just as important for customers to do the same. You also need to think about your suppliers because if you need frequent deliveries, they’ll only provide the service if you’re easy to reach.

    2. Take Advantage of the Competition

    There are two ways to look at this. You might think it’s better to be far from your competitors so you can do business without direct competition. On the other hand, having competitors nearby lets customers compare quickly, and they’ll return to your store because you’re the cheapest and the best.

    3. A Much Wider Employee Base

    No business can operate successfully without surrounding itself with the right employees, and your location plays a huge role in this. If your business is in a small town outside the main city, it may be hard to attract the right people to work for you. In Bangkok, where the infrastructure is excellent, shopping is everywhere, and accommodation is affordable, you’ll have a much wider pool of people to choose from.

    4. There’s Great Potential For Growth

    By setting up your business in the city, you’re creating more opportunities for yourself, especially if your business relies on passing traffic, where footfall is high. This brings more chances for walk-in customers, and word-of-mouth will spread more easily. The infrastructure is already in place, so when your business starts to grow, you’re in the right spot.

    5. So Many Networking Opportunities

    The city is home to thousands of businesses all in one place, which makes networking much easier. It’s important to expand your professional network so you can make the right connections and bring in more business. Depending on what you’re selling, having other businesses nearby that offer related products means customers can come to one area and get everything they need quickly and easily. There’s also a local department of commerce you can join to meet with other business leaders and discuss new ideas from time to time.

    Hopefully, you’ll start considering Bangkok for your new business premises. Rental properties are much more affordable than many expect, and compared to other cities around the world, Bangkok is a clear winner. Whether you’re just starting out or relocating, you want your business to hit the ground running, so setting up in the city simply makes good business sense.