Tue, Oct 21, 2014 23:48
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Texas To Give $2.3 Million To Fortune 500 Energy Company

Texas Business reports: Texas plans to invest $2.3 million through the Texas Enterprise Fund (TEF) in CH2M Hill Co., a Fortune 500 energy business.

TEF officials said the money would help create $5.2 million in capital investment and 285 jobs.

CH2M Hill is an engineering and construction firm that helps government and industry clients plan, develop and manage infrastructure and facilities that improve efficiency and safety.

The company provides engineering design, construction, operations and maintenance services to public utility and government clients in the United States and in 140 countries. The energy practice plans to work with companies in the chemical, energy and life science industries.

“Thanks to state and local incentives, the Houston office will continue to grow from its current workforce of 285 to more than 500 employees by 2015,” said CH2M HILL vice president Michael E. Lucchesi in a prepared statement. “As one of the worldwide hubs for the global energy market, investment in our Houston operations will allow us to meet staffing demands created by capital project investment and growth by our clients in the energy, petrochemicals and chemicals market sectors.”

The Texas legislature created the TEF in 2003 and has re-appropriated funding in every legislative session since then 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.