Chemicals company Chemicals Guys announced plans to build a new chemical plant in the South Texas town of Galveston that will employ at least 500 people.
It’s part of a broader effort to expand production and create jobs in the town of more than 1,300 people.
The Galvestons newest chemical plant will be the fifth in Texas.
The company said it plans to spend $1 billion to make the facility.
It has a total of 30,000 square feet of space.
In addition to the plant, the company is looking to build the largest refinery in the country and will add more than 400,000 barrels of crude a day from the facility, according to a statement from the company.
The announcement came a day after a similar announcement that the company plans to expand operations in Texas to produce crude oil.
The refinery is the only one in the state to have been built in the last decade.
The new plant will likely produce more than 300,000 gallons of crude per day, according the statement.
The announcement comes after an agreement with the state of Texas that allows for a $3 million incentive payment for a facility that would be constructed and operate in Galvestona.
Construction of the new plant is expected to begin in 2019 and be completed by 2024, the statement said.
According to the company, the plant will create over 200 jobs in Texas, with the company expecting to create 1,000 new jobs in 2019.