VanTran to Expand in Waco, Texas
TEXAS, November 18, 2024 – VanTran, who has operated in Waco since 1974, was recently acquired by MGM Transformers, headquartered in California and operating since 1974. Following this acquisition, the company has embarked on a large expansion in Waco including an additional 430,000 square-foot manufacturing facility. The project will add up to 700 jobs over the next 5 years, bring new investment to the region, and will retain the company’s existing presence and 198 workforce in Waco.
“We are excited for this new expansion in the City of Waco. This partnership between our business and the City of Waco will bring more jobs to the community and gives VanTran and MGM Transformers the opportunity for further growth. We would like to thank the Waco City Council, McLennan County Commissioners, the Waco Chamber of Commerce, and everyone else who helped facilitate this expansion.”
– Doug Banty, CEO of MGM Transformers
This project represents a capital investment of more than $20 million. Construction at the new site has commenced and production is anticipated by Q1 of 2025.
“MGM Transformers’ selection of Waco as a base from which to expand current operations, enhance production lines, retain and increase its workforce and infuse new capital into the local economy is a testament to Waco’s commitment to a vibrant environment for its residents and its workforce,” said Waco Mayor Jim Holmes. “We value new businesses coming to Waco, as well as the existing businesses that have made this a great place to live and work. For 50 years, VanTran has been an excellent corporate citizen, and we look forward to MGM being a part of the Waco community.”
“As the demand for electricity increases, so does the need for updating and expanding delivery infrastructure. The work being performed by VanTran and MGM Transformers is critical to Texas and the US electrical grid systems, and
we are pleased to celebrate their growth in Waco,” said McLennan County Judge Scott Felton. “Their decision to expand in Waco and McLennan County continues to reinforce the investments we have made in economic development and throughout the community to attract high quality jobs, grow a skilled workforce and expand the tax base in order to enhance the quality of life for our citizens.”
The company has requested support from the local community, which will be considered by public officials in the near future. Support could include a phase in of property taxes and a grant through the Waco-McLennan County Economic Development Corporation to assist in offsetting a portion of expenses associated with establishing a new operation in Waco.