The City of Sugar Land and the Sugar Land Development Corporation recently approved an agreement to support expansion plans by Applied Optoelectronics, Inc. (AOI) that will potentially bring more than $30 million in investments, retain 235 jobs and add 530 new jobs during a 10 year period.
Given the foreseeable growth in laser components in the markets AOI serves, the company plans to expand its headquarters and build new research and development and manufacturing facilities, totaling approximately 111,600 square feet. The new facilities will be located adjacent to AOI’s existing building in the Sugar Land Business Park. Construction is expected to be completed late 2015.
The company decided to expand its facilities in Sugar Land after evaluating options overseas.
“We have experienced significant growth in the markets we serve and are excited to expand our facilities and production capacity in Sugar Land,” said Dr. Thompson Lin, AOI founder and chief executive officer.
Due to the significant capital investment and job creation, a multi-faceted incentive package was created by the City’s Office of Economic Development and approved by both City Council and the Sugar Land Development Corporation to secure the retention and expansion of AOI’s office and manufacturing presence in Sugar Land.
“Having begun at the University of Houston by developing lasers for military and space applications, AOI’s continued success and its position as a global industry leader is a prime example of the positive local economic impact that can result when a community provides access to higher education and encourages a strong entrepreneurial spirit,” said Mayor James Thompson. “We could not be prouder that AOI has chosen to expand its corporate headquarters in Sugar Land, and we look forward to seeing the company’s continued growth and success in the future.”
Applied Optoelectronics Inc. (AOI) is a leading provider of fiber-optic access network products for the cable broadband, internet data center, and fiber-to-the home markets and has grown significantly over the past year, achieving 70 percent revenue growth in the first six-months of 2014. AOI’s products are the building blocks for broadband fiber access networks around the world, where they are used in the CATV broadband, internet datacenter, and fiber-to-the-home markets. AOI supplies optical networking lasers, components and equipment to tier-1 customers in all three of these markets. In addition to its corporate headquarters, wafer fab and advanced engineering and production facilities in Sugar Land, TX, AOI has engineering and manufacturing facilities in Taipei, Taiwan and Ningbo, China. For additional information, visit www.ao-inc.com.
BancorpSouth opens Sugar Land office
BancorpSouth Bank, subsidiary of BancorpSouth, Inc. (NYSE: BXS), has opened a loan production office in Sugar Land, Texas, an award-winning community and regional employment center southwest of Houston.
BancorpSouth’s new office, located at 8410 Highway 90A, Suite 100 in Sugar Land, is staffed by a group of local, veteran lenders and support staff providing a wide range of commercial and consumer banking services, including commercial real estate, construction, and residential lending.
The BancorpSouth Sugar Land team includes Steven E. Smith, Fort Bend Market President; E.D. Sadka, Senior Vice President and Commercial Lender; Richard A. Mahabir, Senior Vice President and Commercial Lender; Ronnie R. Kirkwood, Vice President and Commercial lender; Jennifer Galvez, Assistant Vice President and Loan Administrative Assistant; and Lori Soliz, Loan Administrative Assistant.