The Amarillo Economic Development Corporation (EDC) today announced the reinvestment of funding originally awarded to the Fairly Group in an agreement reached in 2017. The agreement provided Fairly Group funds to allow for the expansion of high-quality jobs at its Amarillo headquarters. In the past year, the agreement has produced $27,000 for the company.
“We invested in the Fairly Group to create quality, high-paying jobs for Amarillo residents, which is aligned with our organization’s commitment to driving community development through strategic economic growth,” said Laura Street, Chairwoman of the Amarillo EDC Board. “Maintaining and investing in businesses that have chosen to establish themselves in Amarillo is an essential piece of our community’s economic development and helps to ensure our local businesses reach their full potential.”
The Fairly Group will return the $27,000 produced by the agreement, to date, for the Amarillo EDC to invest in other retention and expansion projects that can improve the area’s economy.
“I am extremely proud of the accomplishments of the entire Fairly Group team and the growth we have recognized in recent months,” stated Alex Fairly, President of the Fairly Group. “Now that the Fairly Group’s business plans do not require the financial support of the Amarillo EDC, we hope the organization can invest the funds originally allocated to us to support other Amarillo EDC projects that drive the growth and success of Amarillo.”
The Fairly Group is a risk consulting firm advising clients throughout the U.S. and in over 100 countries in several business segments including Corporate Risk, Human Capital and Benefits, and a broad array of Risk Consulting specialties. The Fairly Group has expanded significantly since the original agreement with the Amarillo EDC and report being in a financial position to continue their expansion without Amarillo EDC funds.
The Amarillo EDC creates jobs and drives economic growth in the greater Amarillo area by attracting new businesses to the community and helping established businesses grow through innovative business solutions. The Amarillo EDC's mission is to promote business expansion in the greater Amarillo area that builds a stronger, more diversified economy.