Georgetown-based Texas Speed and Performance, a high-performance aftermarket automotive parts retailer, is expanding its operations in Georgetown. Founders Trevor Doelling and Jason Mangum have plans to construct two buildings through their real estate company Motion Commercial Properties LLC.
Motion Commercial Properties purchased 157 acres next to the Georgetown Municipal Airport and will build two commercial buildings with a total of 200,000 square feet. Texas Speed will occupy 70,000-square-feet within the first building that will total 120,000 square feet, and the remaining space will be leased to other businesses.
The total capital investment for the project is expected to be $11.5 million, including $1.5 million in infrastructure improvements.
“It’s great when our local businesses expand here in Georgetown because it shows they know this is a wonderful place to do business,” Mayor Dale Ross said. “Georgetown residents have said one of the top needs in our community is creating employment opportunities, and Texas Speed and Performance’s expansion helps us get one step closer to that goal. We work hard to build relationships with our existing businesses to support their continued growth that helps make Georgetown the best place to live, work and play.”
Doelling said the company purposefully chose to expand in Georgetown because so many of the company’s employees are already located in the Georgetown area.
“We also wanted to stay on the same electric provider because of its reliability, which is a concern due the power requirements to run all of our machining equipment,” he said.
“We love working with the City of Georgetown with all of our businesses, and we are very excited for the opportunity to expand our business even further. Georgetown is a great location, and with the significant growth it makes it a no-brainer to continue our expansion in the city that has supported us with our other ventures,” Doelling said. “We are anxious to begin the construction of our facility that will offer lease space to attract additional businesses to Georgetown, and the ultimate goal is to add a second facility once the first one is fully leased out. Georgetown is a prime location for continued growth, and we are excited to be a part of it.”
Texas Speed, founded in 2002, is now one of the largest high-performance late-model General Motors parts retailers in the country and currently leases 36,000 square feet of space from Texas Outdoor Power Equipment. The company employs 62 people and plans to add 45 new employees with an average salary of $50,000 over the next five years.