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(Updated 1-11-16) <br />POLICY STATEMENT <br />CRITERIA AND GUIDELINES FOR TAX ABATEMENT <br />via www.tracer2.com. (Note: This represents 547 companies, 10,470 jobs and 56% of all private sector employment <br />in Lamar County.) <br />c. The taxing jurisdictions and the company must agree to include measuring, tracking and annual reporting of the net <br />job increases (existing jobs plus new jobs) for the entire tern of the abatement agreement. <br />For Net New Jobs(New Job Creation and Retention <br />of Existing Jobs <br />Net New Jobs <br />Year 1 <br />Year 2 <br />Year 3 <br />Year 4 <br />Year 5 <br />1 Year 6 <br />Year 7 <br />1. 10 new jobs minimum. <br />*20% <br />20% <br />20% <br />20% <br />20% <br />20% <br />20% <br />2. New job wages = or > average annual <br />wages for private sector jobs in Lamar <br />County. (Exchxling retail, accommodations, food <br />service. See hem 9.b. above.) <br />3. Agree to maintain existing base and new <br />jobs during the entire term of agreement. <br />4. *Year 1 cannot exceed 100%. <br />VI. Tax Abatement for Existing Employers Regarding Real or Personal Property. <br />The Taxing Jurisdictions recognize the value of its existing employers to the wellbeing of the <br />City and County. The Taxing Jurisdictions desire to encourage existing employers to remain in <br />the Taxing Jurisdictions and to improve their respective businesses and industries, as well as their <br />profitability. <br />Accordingly, if an existing employer (as opposed to a newly created business or industry moving <br />into the Taxing Jurisdictions), owns or leases an authorized facility and has plans to improve such <br />property by constructing new improvements on its real property and/or adding new personal <br />property to its authorized facility which qualify for tax abatement under these Policies, Criteria <br />and Guidelines, such employer may be eligible for tax abatement with respect to such <br />improvements to its real property or its new personal property under the provisions of Article V <br />above, even if no new jobs or newly created minimum annual payroll are created. <br />In projects involving existing employers, the criteria for tax abatements for improvements to real <br />property and for new personal property at authorized facilities set forth in Article V above shall be <br />