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(Updated 01-08-18) <br />POLICY STATEMENT <br />'CRITERIA AND GUIDELINES FOR TAX ABATEMENT <br />An additional 20% abatement for newjob creation is available based on the following requirements: <br />a. A project that creates a minimum of 10 new jobs. <br />b. The new job wages = equal toor greater than the current County average wage for all private sector jobs excluding <br />retail trade and accommodation and food services ($41,M annually for 2013. Source: Texas Workforce Commission <br />via ",ww.traccr2.cnm. ( te: This represents 547 companies, 10,470jobs and 56% qf allprivate sector employment in <br />. -.6 ........ .. ..... Wo <br />Lamar County.) <br />c. The taxing jufisdictions and the company must agree to include measuring, tracking and annual reporting of the not <br />job increases (existing jobs plus new jobs) for the entire term of the abatement agreement. <br />For Net New Jobs (New Job Creation and Retention ting Jobs) <br />. . . . .......... . ..... <br />PTIVIM &MM <br />V1. Tax Abatement for Existing Empl1"% 1 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 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 />111uring <br />into the Taxing Jurisdictions), owns or leases an authorized facility and has plans to improve such <br />Troperty by constructing new improvements on its real property and/or adding new personal <br />property to its authorized facility which qualif� for tax abatement under these Policies, Criteria <br />and Guidelines, such employer may be eligible for tax abatement with respect to such <br />improvernents 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 />MI its 4 4 1 <br />FIJWTIMMMG� <br />ItIO Vl� <br />J )IiI (All (4) 0 1 VWZA 11iM <br />