Texas needs property tax abatements to compete with other states and attract major...
These astronomical figures demonstrate that just as investment in large-scale, capital-intensive projects in the U.S. is reaching near-unprecedented levels, so is the fierce competition amongst states to capture these jobs and lay the groundwork for the industries of the future.
For capital-intensive projects like the ones we recently lost to other states and many that are under discussion today, an abatement of a portion of the property taxes on the new investment is key.by Todd Hunter , which would incentivize projects categorized as manufacturing, national security, grid reliability, supply chain infrastructure and “mega projects” .
The proposed legislation addresses the accountability and transparency concerns that plagued the former Chapter 313 program. Should a project fail to meet the terms of the agreement, the company must return any tax savings. In addition, projects that fail to meet the number of qualifying jobs will be required to pay a substantial fee, with exceptions for grid reliability projects that will strengthen our power grid regardless of the jobs delivered.
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