Fox Tank Company Announces $7.9 Million Investment in Coshocton County 

Oil and Gas Industry Supplier Making First Ohio Investment, Creating 89 New Jobs

Company Name: Fox Tank Company

Location: Coshocton

Site Region: Southeast

Industry Sector: Advanced Manufacturing

Company Profile: A family-owned business, Fox Tank Company is a leading manufacturer of steel storage tanks and equipment for the oil and gas industry, specializing in API-grade tanks for upstream and midstream operations. The company was founded in 1979 in Kerrville, Texas.

Company Website: foxtankcompany.com

Project Summary:

• Type of Project: New Location
• Jobs:
  • Jobs committed: 89
  • Jobs retained: 4
• Capital Investment: $7,998,900

Company Need:

Fox Tank Company is a well-established Texas manufacturing corporation that has been growing its oilfield storage tanks and separation equipment production for over 15 years. The company wanted to expand its manufacturing capabilities in Ohio to provide its equipment to customers in the Appalachian Basin.

Testimonial:

“The expansion comes in response to the increasing demand for Fox Tank’s equipment from customers producing oil and natural gas from the Marcelus and Utica shale formations covering Pennsylvania, West Virginia and Eastern Ohio. This strategic move will create many new jobs in Coshocton and the surrounding area and further solidify Fox Tank Company’s position as a key economic driver in the region. The expansion also allows FTC to better serve our customers, both established and new, with faster delivery times, lower freight rates and enhanced support.

– R. Nathan Fox, Fox Tank CEO

Why Ohio?

The Marcellus and Utica shale formations have become a national center of natural gas and natural gas liquids production. This resource base will play a key role in satisfying America’s increasing reliance on natural gas, according to an IHS Markit study. The projected savings linked to processing natural gas liquids such as methane, propane, and butane in the tri-state region of Ohio, Pennsylvania, and West Virginia rather than the Gulf Coast are expected to range from 6 percent to 26 percent. 

Collaborators:

• JobsOhio
• The Ohio Department of Development
• Ohio Southeast Economic Development
• Coshocton Port Authority