The Development Corporation of Abilene offered a half a million dollar assistance package to Rentech a locally owned boiler company.

Rentech will use the money to expand into the Peerless Manufacturing Co. facility when that company closes its Abilene plant.

The company is looking to expand their Abilene operation.

Currently, they subcontract some parts to company's in Tulsa, Oklahoma, but they are looking to build the majority of them here.

Rentech has been in business for 16-years in Abilene and they build large boilers for refineries and chemical plants.

Owner Jack Rentz, told KTXS they are in demand all over the world.

"We're at 100 percent capacity at our existing facility and have been for several years," Rentz said. "We have been outsourcing the overflow in a lot of shops outside of Tulsa."

The old Peerless Manufacturing building off of east US Highway 80 is down the road from Rentech.

"The work that they do in the Peerless shop is extremely similar, if not identical almost to what we do and the skill set is identical to what we need," Rentz said.

In order for Rentech to receive money from the DCOA they have to create jobs. For the company to receive the full personnel portion of the assistance package, Rentech needs to add 35 new jobs over five years.

"We hope to hire the vast majority of the Peerless employees on our staff and we expect that they will not have a single day off of payroll," Rentz said.

Rentech currently employees 290 people.