Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Council signals support for Endurance Technologies inducement as company eyes Las Cruces site
Summary
The council adopted an inducement resolution to allow Endurance Technologies to apply for tax-exempt purchase certificates while the company evaluates a vacant industrial-park site; the council also closed out a separate Local Economic Development Act project with Saputo Cheese USA.
The Las Cruces City Council on Sept. 15 adopted an inducement resolution expressing the city’s intent to issue industrial revenue bonds (IRBs) for Endurance Technologies, a Canadian steel-pipe manufacturer that told council it expects to hire 41 workers and invest roughly $17 million if it locates here.
Elizabeth Teeters, the city’s economic development director, described the IRB as “an economic development tool available to counties and municipalities” that allows a qualified company to receive limited, statutory tax abatements and to use nontaxable transaction certificates for eligible purchases while bond and ordinance paperwork proceeds.
Jeff Pacura,…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
