Peterbilt will soon begin a $23 million expansion of its current plant in Denton, now with the help of a tax abatement from the city.
The Denton City Council approved a 70 percent tax abatement for eight years in last night’s meeting, which means the company will get about $822,000 in incentives.
In the presentation, details of the plan and Peterbilt’s expansion were explained by Aimee Bissett, director of economic development for the city.
The expansion comes after the company added 500 jobs in 2014, and so far this year have already added 200. In 2014, their production levels increased 32 percent. When they opened in Denton in 1980, they had just 83 employees. You can read more about Peterbilt’s history in Denton here.
The expansion will add 17,500 square feet to the property to help increase production.