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Council adds tax‑rebate option to economic incentives policy to increase flexibility for business recruitment
2729958 · March 21, 2025
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Summary
Socorro amended its Chapter 380 economic development incentives policy to add a tax‑rebate option alongside existing tax abatement authority; staff said rebates allow performance‑based payments after compliance is verified.
The Socorro City Council on March 20 approved a revision to the Chapter 380 Economic Development Incentives Policy to add tax rebates as an incentive option in addition to tax abatement.
Jose Quinones, special projects and economic recovery, told the council the existing policy on record limited incentives to tax…
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