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Potter County approves tax abatement for International Aerospace Coatings hangar expansion
Summary
The Potter County Commissioners Court voted 4-0 July 28 to join the City of Amarillo in granting a property tax abatement to International Aerospace Coatings for a planned $27.7 million wide‑body hangar at Amarillo International Airport, a project the county and AEDC say could add up to 70 jobs.
Potter County’s commissioners voted unanimously July 28 to join the City of Amarillo in approving a property tax abatement for International Aerospace Coatings to build a 78,000‑square‑foot wide‑body hangar at Amarillo International Airport. The vote came during the Commissioners Court meeting at 9 a.m.
The county action opts Potter County into an eight‑year, step‑down property tax abatement that the presenter said applies when a project has more than $12 million in capital expenditures and creates at least 50 jobs. Under the formula described to the court, the abatement is 80% in year one then declines by 10 percentage points each year through year eight.
The…
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