An effort to bring an out-of-state company to Texas will help create more Dallas tech jobs.
State officials recently announced that the Texas Enterprise Fund will invest $1.2 million in Consolidated Electrical Distributors, Inc. to move the company’s corporate headquarters from California to Irving, a nearby suburb of Dallas.
That move is expected to create 120 jobs and generate about $3.3 million in capital investment. CED supplies wire and cable, load centers, panel boards, transformers, switches, motor controls, drives and other electrical products to residential, commercial, and industrial customers.
“Employers across the nation are looking for a job-friendly environment where they can succeed,” Gov. Rick Perry said. “Thanks to the Texas Enterprise Fund, low taxes, predictable regulations, a reformed legal system and increasingly accountable public schools, Texas continues to attract businesses and investment, and is the number one state for job creation in the U.S.”
CED is one of the largest electrical distribution companies in America, one of the largest private companies in the nation, and a Forbes 125 private company.
“We are very pleased that CED has chosen to relocate its corporate headquarters from California to Irving,” Mayor Herbert A. Gears said. “As one of America’s largest and strongest electrical distribution companies and a Forbes 125 private company, Irving has much to gain from their relocation to our city.
“This includes 120 new quality jobs over the next four years, and the establishment of Irving as its ‘point of sale’ for inventory purchased and resold in Texas,” he continued. “I have no doubt CED will become a major contributor to the economic engine of our community, region and the great State of Texas.”
TEF was created by the Texas Legislature in 2003 and renewed in 2005, 2007, and 2009. The fund is aimed at creating jobs and ensuring business growth throughout the state. So far, TEF has helped to create more than 54,847 jobs, invested more than $414.8 million, and generated more than $14.6 billion in capital investment.
