Amarillo’s economy is set to get a big boost.
As ABC7 Amarillo reports, hundreds of high paying jobs are likely headed to Amarillo, following approval by the Amarillo City Council Tuesday of an incentive package for Maxor National Pharmacy Services to create positions.
Barry Albrecht, president of the Amarillo Economic Development Corporation, which developed the deal, said the $13 million incentive package will allow Maxor to keep 220 high-paying jobs and add 375 new jobs over the next few years.
The expected annual salaries of the new jobs is $70,000.
The incentive package includes a $5.5 million grant for Maxor to keep the existing jobs and the company could get an additional $7.5 million if it creates 375 new positions with a payroll of $25 million.
According to NewsChannel 10 reports, the multi-million dollar deal was created to keep Maxor from leaving Amarillo in order to expand, which the company is now looking to do in Amarillo, but no concrete plans are in place.