Odessa Fuels Business Growth and Expansion

Business-friendly communities like Odessa, Texas, create an environment for industry-changing businesses and dynamic leadership to thrive. Many companies in the Permian Basin have grown into global leaders in their field or are achieving notable success, such as Liberty Energy, one of multiple companies to expand or relocate to Odessa in 2024. President-elect Donald Trump recently tapped Liberty CEO Chris Wright as his pick for Secretary of the U.S. Department of Energy.

Economic development incentives fuel growth

In March 2024, Liberty Energy, a top North American energy service company providing completion services and technologies to onshore oil and natural gas exploration and production companies, broke ground on a $50 million regional headquarters now under construction in Odessa. In a recent Business Xpansion Journal, Liberty Oil indicated the Odessa location will allow the company to consolidate multiple facilities while leaving space for further expansion. At the Leeco Industrial Park groundbreaking ceremony, Wright said Liberty Energy was excited about the new facility and the opportunity to deliver services more efficiently.

"We are in the business of bettering human lives, and there is no better place to make that happen than in Odessa, Texas, the heart of the Permian Basin,” Wright said.

Liberty received a $2.5 million grant from the Odessa Development Corporation for the project. The grant will be awarded over five years as Liberty meets investment, job creation and salary requirements. Through the expansion, Liberty retains 1,000 current employees and adds 500 positions, largely in administrative and managerial roles.

Additional grants awarded by ODC in 2024 are boosting Odessa’s retail landscape – a necessity for retaining top talent and adding new manufacturing jobs. According to an ODC Business Facilities report, Orrex Plastics received a $2.1 million grant for expansion, and the manufacturer of technical plastic products will add 16 new jobs to their 160-employee workforce. On the retail side, ICA Development received $4.4 million to build and expand infrastructure in East Odessa for a 100,000-square-foot Bass Pro Shop, enhancing retail offerings in Odessa while providing over 115 jobs. 

Grants and incentives offered at state and local levels help businesses and leaders succeed and grow in Odessa. Popular programs include job creation, capital investment and infrastructure improvement grants, as well as property tax incentives and training and workforce development programs.

Attracting industry leaders fuels further growth

By attracting and retaining top companies such as Liberty Energy, Odessa further solidifies itself as “the heart of the Permian Basin.” Growth in one industry furthers expansion in adjacent industries, such as suppliers, and also spurs additional development in the same sector. Business leaders have the opportunity to oversee advancing enterprises in a supportive region and benefit from the innovations of a highly skilled workforce when choosing Odessa as a manufacturing base. 

As the city solidifies itself as a manufacturing hub supporting oil, gas, and renewable energy, a diversity of roles in the private and public spheres will be available for top business leaders, making Odessa a place to grow a company and develop a personally rewarding career. 

To learn more about the business-friendly environment in Odessa, contact Odessa Development Corporation today.