Texas Agency Investing in Plastics Recycler

Texas Governor Rick Perry has announced that the state is investing $550,000 through its Texas Enterprise Fund (TEF) in Coll Materials Exchange, Zanesville, Ohio, for the company's expansion into Waco, Tex. Contingent upon the completion of a local incentive agreement, the investment is expected to result in the creation of 111 jobs and generate an estimated $5.9 million in capital investment.

"Employers from around the nation and all over the world continue to seek the job-friendly climate we've created in Texas with our low taxes, reasonable and predictable regulations, fair legal system and skilled workforce," says Gov. Perry in a release. "This TEF investment will help with Coll Materials' expansion into Waco, create jobs for 111 Texans and generate millions of dollars into the City of Waco's local economy."

Coll Materials Exchange handles both post-industrial and post-consumer plastics. The company processes plastic scrap into pellets for reuse and resale. Processed material is sold to plastic manufacturers for various uses, including thermoformers, injection molders, structural foam molders and vacuum formers.

The TEF notes that its investment in Coll will allow the company to expand its current operations to the Southwest, where the combined capacity of the company’s two plants will produce more than 100 million pounds per year, with the capability for growth.

"Coll Materials is excited about doing business in Texas, specifically in the great City of Waco," says Brian Coll, president and CEO of Coll Materials Exchange. "The State of Texas and Texas Enterprise Fund, as well as the economic development representatives and officials in the City of Waco and McLennan County, have been tremendously helpful in providing competitive incentives, assisting with the details of doing business and responding promptly to our questions."

The legislature created the TEF in 2003 and re-appropriated funding in 2005, 2007 and 2009 to help ensure the growth of Texas businesses and create more jobs throughout the state. TEF projects must be approved by the governor, lieutenant governor and speaker of the House. To date, the TEF has invested more than $434.7 million and closed the deal on projects generating 59,136 new jobs and more than $14.7 billion in capital investment and more than $14.7 billion in capital investment in the state.