This should get you where you want to go. Let me know if there is anything else.
Sub testit()'10 10 0 "Materials" "Layer1"
'10 20 0 Bearings Layer2
'10 30 0 Square Layer3
'10 40 0 Fasteners Layer4
'10 50 0 Plates Layer5
'10 60 0 Cubes Layer6
'10 70 0 Rectangles Layer7
PlaceText "Materials", 10, 10, 0, "Layer1"
PlaceText "Bearings", 10, 20, 0, "Layer2"
PlaceText "Square", 10, 30, 0, "Layer3"
End Sub
Sub PlaceText(ByVal iText As String, ByVal iX As Double, ByVal iY As Double, ByVal iZ As Double, ByVal iLayer As String, Optional ByVal iHeight As Double = 0.125)
Dim mPoint As Variant, mPt(0 To 2) As Double, mText As AcadText
mPt(0) = iX: mPt(1) = iY: mPt(2) = iZ
mPoint = mPt
Set mText = ThisDrawing.ModelSpace.AddText(iText, mPoint, iHeight)
With mText
.Layer = iLayer
End With
End Sub