Gov. Perry Announces TEF Investment Bringing More Than 200 Jobs to Seguin
Gov. Rick Perry today announced the state is investing $800,000 from the Texas Enterprise Fund (TEF) in Siro Group USA to close the deal on a manufacturing facility in Seguin that will create more than 200 jobs and pump $58.5 million in capital investment into the local economy.
“Texas’ economy continues to flourish across all industries and wage levels because we’ve created an environment that is laser focused on job creation through our low taxes, smart regulations, fair courts and skilled workforce,” Gov. Perry said. “This TEF investment in Siro Group USA will create jobs for Texans in Seguin while expanding our state’s diverse manufacturing and production base.”
Grupo Siro, the parent company of Siro Group USA, is one of the biggest names in the Spanish food industry, with 19 production facilities, a research and development center and headquarters in five countries. The company produces baby food, cookies, pastries, pasta, frozen desserts, bread and cereals, with more than half of its total output sold to retailers as private label products. This TEF investment will help establish a new facility to produce these products for customers located in Canada, Mexico and Central America.
“The city of Seguin is, undoubtedly, a strategic location to set up our factory due to its environmental conditions and highly qualified people. This factory will allow us to meet the demands of our clients in the United States while creating long-term economic and social value for locals” said Luis Ángel López, Cerealto Siro Foods’ CEO. “We are really thankful for the support given by the Texas Enterprise Fund, the Guadalupe County Tax Abatement Committee, the Seguin City Council and the Seguin Economic Development Corporation without which our dream couldn’t become a reality”
“We are so delighted to be joining forces with Siro Group USA LLC. The announcement of our partnership with Siro Group adds another great step in our quest to add more diverse jobs here in Seguin,” said Terry Trevino, Director of The Seguin Economic Development Corporation. “All of our teamwork towards building a strong foundation of diversified employers has put us high on the map and earned us recognition for “Where the Jobs Are” nationally and recently, No. 12 in a ranking of ‘Cities on The Rise in Texas.’ Seguin has the jobs and we are blessed to jump on board with Siro’s vision to make this possible for everyone.”
The Legislature created the TEF in 2003 and reauthorized funding in 2005, 2007, 2009, 2011 and 2013 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. The fund has since become one of the state’s most competitive tools to recruit and bolster business. To date, the TEF has awarded more than $575 million and closed the deal on projects generating nearly 77,000 jobs and more than $24 billion in capital investment in the state.