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(Updated 01-08-18� <br />POLICY STATEMENT <br />CRITERIA AND GUIDELINES FOR TAX ABATEMEV-1 <br />9. An additional 20% abatement for new job creation is available based on the Mowing requirements: <br />a. A project that creates a minimum of 10 new jobs. <br />b. The new job wages are equal to or greater than the current County average wage for all private sector jobs excludirig <br />retail trade and accommodation and food services ($41,158 annually for 2013. Source: Texas Workforce Commission <br />via %A-nA,,W,,_traccr2.qnm. Mote.- Ais repments 547 companies. 10,470jobs and 56% pf allprivate sector employment in <br />Lamar County.) <br />c. The taxing jurisdictions and the company inust agree to include measuring, tracking and annual reporting of the net <br />job increases (existing jobs plus new jobs) for the entire term of the abatement agreenwat. <br />... I -"'' . . . ......... ..... . ...................... - --------- - . . ....... - <br />For Net Nee.eeeeeew Jobs (New Job Creation and Retention of Exi )Obs) <br />Net New Jobss. Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 <br />10 new jobs minimum. *20% 20% 20% 20% 20% 20% 20% <br />2. New job wages =car > average annual <br />wages for prNate secior jobs in Lamar <br />County. (Excluding reuil, acconmwdaUons, food <br />service. See It 9.b. above.) <br />3, Agree to maintain existing base and now <br />jobs during the entire bum of agreement, <br />4. *Year I cannot, exceed 100%- <br />. ... ...... - . -1-1--'_ -," -- -, -1- -- ........................ <br />V1. Tax Abatement for Existing Employers Regarding Real or Personal Property, <br />The Taxing Jurisdictions recognize the value of its existing employers to the well-being of the <br />City and County. The Taxing Junsdictions 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 />iffoperty by constructing new improvements on its real property and/or adding new personal <br />property to r facty which qualify for tax abatement under these Policies, Criteria <br />Y-nd Guidelines, such employer may be eble 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 />".bojobs or newly created minimum annual payroll are created. <br />M 71 - . I Iff 11111 -* I * - 1 0 9MM <br />; W-1 to t1 i v 4 F�r <br />