The City of Odessa has approved a grant between Liberty Oilfield Services and the Odessa Development Corporation that is expected to bring over 100 jobs to the city. The grant, which was ratified at an Odessa City Council meeting on Tuesday, October 10th, aims to bring around 1500 jobs to the area and generate approximately $515 million in payroll.
According to a post by the City of Odessa, the grant was unanimously approved by the city council. Kris Crow, Chair of the Odessa Development Corporation, expressed his support for the agreement, stating that they are working on agreements that make financial sense for the city and getting back to basics. He also cautioned that while some ventures may sound exciting, they can drain cities financially.
During the City Council meeting, Crow presented the grant to the council and highlighted the benefits it would bring. Liberty Oilfield Services plans to create 1,456 full-time-equivalent jobs and contribute over $515 million in payroll over the next five years. Additionally, the company will invest approximately $34 million in the construction of maintenance and support facilities in Ector County.
Liberty Oilfield Services, as described on their website, offers various services to oil and natural gas production companies. They prioritize safety, efficiency, and high-quality hydraulic fracturing, engineering, and wireline services. The company also emphasizes their investment in their workers, stating that their technology leadership, low employee turnover, aligned incentives, and culture of excellence deliver industry-leading results.
The grant between Liberty Oilfield Services and the Odessa Development Corporation is expected to have a significant economic impact on the City of Odessa, bringing in new jobs and contributing to the local economy.