Gov. Rick Perry has announced a Texas Enterprise Fund (TEF) investment of $300,000 for Maverick Arms, Inc., a firearms company specializing in shotguns. The company has announced plans to expand its Eagle Pass manufacturing facility, creating 50 new jobs and $3.4 million in capital investment.
"Last month's outstanding jobs gains are further proof that Texas continues to be a national leader in job creation for employers of all sizes and across all industries," Gov. Perry said. "This TEF investment in Maverick Arms will help create jobs and opportunity in Eagle Pass, while reaffirming Texas' longstanding support of the Second Amendment."
Maverick Arms is a subsidiary of Mossberg Corp., the largest pump-action shotgun producer in the world, as well as the oldest family-owned firearm maker in America. The Eagle Pass facility currently assembles and distributes firearms for the Mossberg, Maverick and Mossberg International brands. This expansion will consolidate barrel production to the Eagle Pass facility.
"Investing in Texas was an easy decision. It's a state that is not only committed to economic growth but also honors and respects the 2nd Amendment and the firearm freedoms it guarantees for our customers," Mossberg CEO Iver Mossberg said. "A significant amount of our manufacturing has been done in our Eagle Pass factory since 1989. This new expansion will allow us to take full advantage of the outstanding work ethic of our long time Eagle Pass employees and help us meet an ever growing demand for Mossberg rifles and shotguns. We thank Gov. Perry and for his efforts, which have helped make this expansion possible and will help us create even more jobs in the community."
Gov. Perry has focused on creating an economic climate in Texas that allows companies from all industries to grow and create jobs. In 2013, the governor sent letters to firearm manufacturers across the country, including Mossberg, highlighting Texas' combination of low taxes, smart regulations, fair courts and skilled workforce. Earlier this year, he attended the National Shooting Sports Foundation's 2014 SHOT Show and Conference in Las Vegas, where he again shared this message with industry leaders.
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 invested more than $560 million and closed the deal on projects generating nearly 74,800 new jobs and over $24 billion in capital investment in the state.