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(Updated 01-10-2022) <br />POLICY STATEMENT <br />CRITERIA AND GUIDELINES FOR TAX ABATEMENT <br />via %wvw.t_racer2.com. (Note: This represents 547companies,10,470jobs and 56% ofall private sector employment ai <br />,Lamar County.) <br />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 />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 City <br />and County. The Taxing Jurisdictions desire to encourage existing employers to remain in the <br />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 and <br />Guidelines, such employer may be eligible for tax abatement with respect to such improvements to <br />its real property or its new personal property under the provisions of Article V above, even if no <br />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 />