USA: Loram Technologies is to build a $17m research and development centre in Georgetown, Texas. The railway maintenance and services company expects to employ 310 people at the site, including 150 new positions.
Loram Technologies President Greg Grissom said the company’s vision was to build on the Georgetown Rail Equipment Co business, which Loram acquired in 2018 and renamed as Loram Technologies at the start of this year, along with other acquisitions.
‘By aligning global software, data and engineering teams, we will accelerate new product development and bring our railroad customers the very best in next generation technology products and field services’, he said. ‘Loram is also thrilled to bring further investment into Georgetown with a new state of the art office and manufacturing facility with construction starting in late 2021.’
Loram expects to invest $17m in the R&D centre. Georgetown Economic Development Corp will provide a job retention and creation grant of $1 000 per job, plus an infrastructure reimbursement to give a total incentive of $800 000 for the project.
‘We are excited to be home to this research and manufacturing facility’, said Georgetown Mayor Josh Schroeder. ‘Expanding on the innovation of GREX, a home-grown rail technology company started by Ned Snead, is great. This centre adds highly skilled jobs in our community and keeps us on track to strengthen our economy.’
