$2 Million Grant from Texas Enterprise Fund will lead to 500 New Jobs
McKINNEY, TX -- Texas Secretary of State Roger Williams announced Wednesday that Torchmark Corporation is moving its corporate headquarters to McKinney, Texas, from Alabama, creating 500 new jobs for the area. A $2 million grant from the Texas Enterprise Fund helped lure the Torchmark relocation to Texas, along with the region’s strong business environment and excellent quality of life.
“I am very honored and pleased by Torchmark’s decision to move their corporate headquarters to the great state of Texas,” Williams said. “This is an important day for both McKinney and Torchmark.”
Torchmark is planning a $27 million, 150,000 square-foot facility at its McKinney location that is the first stage of a major consolidation program of its subsidiaries’ marketing and administrative functions including a centralized computer processing and customer service center. The company currently has over 600 full-time positions at the McKinney location, and will add at least 500 new jobs over the next five years.
“We have found McKinney, the DFW area and the state of Texas to be very conducive to the growth and success of our businesses,” Torchmark Chairman and CEO Mark McAndrew said. “With the business-friendly environment, easy transportation access and a family-oriented community, it just makes good business sense to consolidate our administration here. The Texas Enterprise Fund, along with local incentives, was instrumental in our decision to relocate to Texas.”
To date, the Enterprise Fund has helped Texas close the deal on projects that will create over 37,500 new Texas jobs and add nearly $7 billion in capital investment to our state’s economy.
Williams pointed to today’s announcement as further proof that the efforts Governor Perry and the state of Texas have taken with economic development are paying off. Since 2003 Texas has created more than 330,000 new jobs and Governor Perry recently received the Governors’ Cup from Site Selection magazine for the second consecutive year.