Business Retention & Expansion Strategy in Action: Retain. Expand. Compete. Odessa Supports Homegrown Industries

Business Retention & Expansion (BRE) is a significant part of Odessa’s economic development approach. BRE is grounded in results demonstrated by new jobs, more investment, and increased economic resilience. The Odessa Development Corporation’s (ODC) strategy focuses on identifying local growth opportunities, removing barriers to expansion, and directly supporting the companies already driving Odessa’s economy.

One of the most recent and compelling BRE examples include Orrex Plastics. 

How ODC Helps Companies Like Orrex Scale with Confidence

The ODC Board made a $2.1 million business expansion grant to Orrex Plastic Companies. Orrex manufactures a variety of technical plastic products that are used in a wide array of applications for many national brands, and the company is focused entirely on reactive and complex extrusion compounding. Orrex will be adding 16 new jobs to its existing workforce of more than 160 current employees.

“The Odessa Development Corporation has been very busy and has helped provide incentive funding for a wide range of projects. From smaller employers and projects to multi-million dollar projects that are currently under construction, Odessa continues to be a very attractive place for businesses to call home,” said Tom Manskey, the Odessa Chamber of Commerce Economic Development Director.

The ODC’s BRE objectives are to support operational growth through targeted financial tools, preserve competitive advantages by backing companies with specialized capabilities, and create new jobs that keep trained talent in Odessa.

Ways the ODC supports its BRE program include funding assistance, planning and permitting assistance, serving as a point of contact for assistance with workforce training and hiring, permitting for expansions, building site selection, business issues, and general information about city policies and business incentives such as tax rebates and abatements, job grants, and more.

Want to talk about expansion? Contact ODC to learn how our BRE program can support your next growth phase.