The McKinney Economic Development Corporation (MEDC) has reached an incentive agreement with PACCAR, a Fortune 500 company, to construct a new manufacturing facility for its Dynacraft division in McKinney. The deal is expected to be finalized in the coming weeks. The City of McKinney is also participating in the incentives to the project.
PACCAR will build a 130,000 square foot manufacturing facility located at Wilmeth Road and Redbud Boulevard. Under the agreement, the company will bring 200 jobs to the community in the next six years and make capital investments of over $20 million.
PACCAR is a global technology leader in the design, manufacture and customer support of high-quality light-, medium- and heavy-duty trucks under the Kenworth, Peterbilt and DAF nameplates. PACCAR also designs and manufactures advanced diesel engines, provides financial services and information technology, and distributes truck parts related to its principal business.
“We are very pleased to welcome PACCAR to McKinney as our newest corporate citizen. This will be the start of a mutually beneficial relationship. I believe McKinney will foster an economic environment where Dynacraft’s presence in our city will grow well beyond its considerable initial investment,” said MEDC Board Chairman Jason Burress.
“We are excited PACCAR has chosen McKinney as the new home for the Dynacraft facility. Our city offers businesses unparalleled quality of life, excellent schools and an array of high-quality housing options that make McKinney an exceptional place to live and work,” said Mayor Brian Loughmiller.
“McKinney is an excellent community for Dynacraft’s new manufacturing facility,” said Anthony Levi, Dynacraft general manager. “We appreciate the outstanding support from the City of McKinney and MEDC.”
McKinney, Texas, is unique by nature. As one of the fastest growing cities in America, McKinney has a current population of more than 168,000. The city was #1 on the list of Best Places to Live in America in 2014, published by Money Magazine. Established in 1848, the city is located 30 miles north of Dallas and is the county seat of Collin County. McKinney offers award-winning schools, a vibrant historic downtown, diverse housing options, a robust economy and a uniquely beautiful natural setting, with rolling hills and lush trees. Visit the City of McKinney website.