Duncan_Duncan has seen some economic struggles over the past year. Halliburton lost employees worldwide, and one of the city's biggest plants closed. However, the Duncan Area Economic Development Foundation has taken matters into its own hands and purchased the 141,000 square-foot Haulmark Building. In 2007, the company left Duncan because business was slow, and it had the community worried. However, this purchase has put the city back in business.
The Haulmark Building cost Duncan $2 million, which came from an economic development bond that recently passed. It won't cost Duncan residents any additional tax dollars, and they will be seeing a great return.
Sentry International is one of Duncan's newest employers, and the city's newest acquisition could be its new home thanks to the economic foundation's purchase. "We're obviously looking for a larger place to grow and expand our business," said CEO Charley Pollack. "The foundation has been entrusted to grow and create jobs," he said. That's why Lyle Roggow with the Duncan Area Economic Development Foundation says they purchased the building.
The Haulmark building has been empty since the fall of ‘07, and it caused some other companies in the area to become nervous. "If Enventure couldn't find a home by December, they were going to be heading back to Houston," said Roggow. Economic concerns helped the foundation make the decision to purchase the building, and Eventure - an oil drilling component manufacturer - will be moving into 50,000 square-feet of the building. "With the extra space, we're going to help some of our other companies do some expanding," said Roggow.
The foundation plans to add a business incubator for new Duncan businesses. "It's going to allow us to see some new companies get some growth opportunities in a three-year time period," Roggow said. While gathering the help the foundation needs to get off the ground, Roggow says their plans will bring a lot of new opportunities to the area. "The economic group has done a great service to the community by jumping in that facility, and it gives a lot of people a lot of options," he said.
Eventure is expected to move into the old Haulmark building in October and should be up and running by December, 2008. With this expansion, Eventure Global Technology and Sentry International will bring more than three dozen new jobs to the area.
Count on 7News to keep you updated on Duncan's progress.