Foreign Direct Investment Emerges as Major Economic Force in Greater Waco

In his From the President letter at the beginning of this magazine, Greater Waco Chamber President & CEO Matt Meadors talks about the remarkable changes taking place in our regional economy and how foreign direct investment (FDI) is helping to drive these changes and create expanded wealth for our citizens. Global companies are calling Waco and McLennan County home at a rapid pace, acknowledging the state’s attractive regulatory and tax climate, our welcoming and business friendly local culture, our growing, capable, and reliable workforce, and our secondto-none physical location on Interstate 35 in the heart of the economic juggernaut known as the Texas Triangle.

As Meadors stated in his letter, industrial investment in our region accelerated at a breathtaking clip in 2020. Your Chamber’s professional team, working in tandem with strategic partners including the City of Waco, McLennan County, the Waco Industrial Foundation (WIF), and the Waco-McLennan County Economic Development Corporation (WMCEDC) helped facilitate 39 economic development projects over the past five years. Eleven of these projects were new investments made by international companies representing six countries: Germany, Mexico, Canada, Spain, Italy, and Thailand. The FDI from these companies approaches $1 billion dollars, and they have constructed more than 2.3 million square feet of industrial space and created more than 800 skilled jobs in our community. This assessment of their impact does not include induced jobs created, jobs retained by existing companies in our community because of the expanded economic activity spurred by their investments, and the growth in tax revenue. All are important and substantial.

GERMAN COMPANIES calling our region home include ZinkPower Waco, Uzin Utz North America, Knauf Insulation North America, and Messer.

ZINKPOWER Waco is a European leader in hot-dip galvanizing and powder-coating services and chose the Greater Waco community for its first greenfield operation in the U.S. This plant is the only hot-dip galvanizing center between the Dallas/Fort Worth Metroplex and San Antonio and is home to Zinkpower’s largest dipping kettle and employs 100. Since beginning operations in 2021, the company has expanded operations to include painting.

Uzin Utz North America, a subsidiary of Uzin Utz AG, chose Greater Waco in early 2021 for its second U.S. production operation. The new 125,000 squarefoot facility includes manufacturing and distribution, a customer training center and research and development.

Knauf Insulation North America, a subsidiary of the Knauf Group based in Iphofen, Germany, chose Greater Waco for its 600,000 square foot state of the art fiberglass insulation facility. The facility recently began operations and employs more than 150 people in the McGregor Industrial Park.

Messer has constructed a state-of-the art, large-scale air separation unit that operates substantially off energy supplied from an onsite solar panel array. Not only will the plant reduce the carbon footprint of nitrogen and oxygen production, but it will increase the security of supply of these gases to the entire state of Texas.

MEXICO COMPANIES calling our region home include Envases Group, Electrolit, and ARCA Continental Coca-Cola Southwest Beverages.

Envases Group selected Waco for its first U.S. aluminum can production and distribution facility in December 2020. Waco now serves as the headquarters for the U.S. can division of the company. The 450,000 square-foot facility is fully operational and employs nearly 200.

Electrolit , owned by Pisa Pharmaceuticals, the largest pharmaceutical company in Mexico and Latin America, has selected Waco for its first U.S. production facility. This investment represents Pisa’s largest single investment project in the company’s more than 70 year history. The 600,000 square-foot, state-of-the-art facility is currently under construction and will be operational in early 2026, employing 200 skilled workers.

We've also seen investments from CANADA , ASIA , SPAIN and ITALY.

Aspen Custom Trailers, an Alberta, Canada-based leading manufacturer of heavy haul commercial trailers, selected Waco for its first greenfield operation in the United States in October 2020. The company operates as Aspen Custom Trailers US and the site serves as a center for Aspen’s manufacturing, service and sales operations across a wide, multi-state region.

FoamTec International, headquartered in Bangkok, Thailand, specializes in the manufacture of wipes, swabs, sponges and mops to serve the medical device, pharmaceutical, and semiconductor manufacturing industries.

Allied Steel Buildings, based in Spain, is a global manufacturer of steel buildings and structural steel solutions. Its site in McGregor is its second manufacturing facility and strengthens its position as an industry leader while demonstrating its commitment to innovation, growth, and the advancement of the manufacturing sector.

Polyglass U.S.A., Inc. is a leading manufacturer of high-quality modified bitumen roofing and waterproofing solutions. Acquired in 2008, Polyglass is a member of the Italy-based Mapei Group, a global leader in the building materials industry. In 2017, Polyglass opened its fifth manufacturing plant in Waco and expanded it in 2023. It is the largest of Polyglass’ state-of-the-art manufacturing facilities.

A hallmark of the Chamber’s economic development strategic plan is a significantly enhanced domestic and international business development initiative. Each year, your Chamber connects with 100 local business leaders through in-person meetings. This strengthened approach broadens the scope of outreach and enables the Chamber team to engage with companies directly at their headquarters. So far in 2025, we’ve taken part in two global missions aimed at building on our recent success.

First, your Chamber joined Team Texas, the memberbased state business attraction program through the Texas Economic Development Council, a professional association for Texas economic developers, in their booth at SelectUSA’s conference in Mexico. The conference brought together over 35 U.S. economic development organizations and allowed your Chamber to connect with industry leaders and continue to foster new relationships.

Also, in the spring, a delegation of Greater Waco Chamber leadership visited Germany. During the fast and furious five-day trip, the team met with the top officials from businesses that have invested in our community and made new connections with prospective companies evaluating our community.

The rapid rise of foreign direct investment in Greater Waco is not a passing trend—it’s a defining force shaping the region’s economic future. The impressive scale and diversity of international companies now operating in McLennan County is a testament to Greater Waco’s strengths: a pro-business climate, strategic geographic location, growing infrastructure, and an increasingly skilled workforce. These global investments are fueling not only job creation and industrial development but also elevating the region’s profile on the world stage. They are helping to retain local talent, attract new talent to our market, generate long-term economic stability, and lay the groundwork for even greater innovation and opportunity.

As your Chamber continues to strengthen ties with international partners and execute its forward-thinking economic development plan, Greater Waco is wellpositioned to remain a magnet for global industry. By building on this momentum, through strategic outreach, collaborative leadership, and a steadfast commitment to growth, the community is writing a new chapter in its economic story, one where Greater Waco competes and thrives in the global marketplace.