Wichita County approves 10-year tax abatement for Sealed Air expansion in Iowa Park

The Wichita County Commissioners Court on June 24 authorized the county judge to sign a tax abatement agreement with Cryovac Sealed Air Corporation for an expansion at the company’s Iowa Park facility that the court said would involve a $31,400,000 investment and 25 new full-time positions.

The abatement, which follows the court’s April designation of a reinvestment zone for the site, would begin Jan. 1, 2027, run 10 years and use the same tiered percentage schedule as Sealed Air’s earlier agreement: 80% abatement for the first two years, 70% in years three and four, 60% in year five and 50% for the final five years. The court recorded the measure as averaging about a 67% abatement over the life of the agreement.

BDO consultant Nick McGirl, representing Sealed Air, told the court the company is evaluating U.S. facilities to accommodate increased customer demand and has identified the Iowa Park plant as a leading candidate for the investment. “If the Iowa Park is selected for this project, the company does intend to invest about 31,400,000.0 and create 25 full time positions,” McGirl said, adding the new positions would have average wages of roughly $60,000 and that the investment includes real-property and power distribution upgrades as well as personal property improvements.

County officials said the abatement’s compliance will be tracked through annual reporting that confirms placed-in-service assets. The court said the appraisal district will record added equipment and improvements in order for the abatement schedule to apply when the property is rendered and processed.

The motion to authorize the county judge to sign the agreement was made by Commissioner Beauchamp and seconded by Commissioner Watts; the court voted 5-0 to approve the authorization.

A public hearing on the abatement was held earlier in the meeting; no public speakers spoke for or against the agreement during that hearing.