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(Readopted 01-13-2020) <br />POLICY STATEMENT <br />CRITERIA AND GUIDELINES FOR TAX ABATEMENT <br />9. An additional 20% abatement for new job 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 are equal to or greater than the current County average wage for all private sector jobs excluding <br />retail trade and accommodation and food services ($41,15$ annually for 2013. Source: Texas Workforce Commission <br />via www.tracer2xom. (Note: This represents 547 companies, 10, 470 jabs and 56% of all private sector employment in <br />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 term of the abatement agreement. <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 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 />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 />