Ken Hastings, PACCAR’s head of investor relations and corporate development, confirmed to Fleet Owner the company is planning to a new manufacturing facility in McKinney, TX, located about 30 miles north of Dallas.
The McKinney Economic Development Corp. (MEDC) issued a press release last week stating a deal with Paccar was expected to be finalized in the coming weeks. The expected 130,000 square foot facility will be part of PACCAR’s Dynacraft division, which manufacturing components, subassemblies and specialized services. Currently, Dynacraft has manufacturing facilities in Algona, WA and Louisville, KY.
Hastings said the company is planning a capital investment of more than $20 million and will likely receive a $3 million incentive package from MEDC. It is expected to create 200 local jobs.
“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.