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Benicia mayor: impending Valero closure could cost city $10–12 million a year; city seeks transition planning
Summary
Benicia Mayor Steve Young told the joint hearing that Valero’s announced planned closure would be an immediate shock to the city’s budget and economy. He and city staff are pursuing multiple task forces to measure fiscal and secondary impacts and pressing state agencies for mitigation and redevelopment support.
Benicia’s mayor told the June joint hearing that a probable Valero refinery closure would be an acute fiscal and employment shock for the small port city and requested state support as the community plans for a long‑term transition.
Mayor Steve Young said Valero is the city’s largest employer and taxpayer; while the company pays no sales tax, the refinery provides property tax revenue, utility user tax receipts and purchases more than half the city’s water. “The closure … will result in losses to the city directly of about 10 to $12,000,000 a year,” Mayor Young said, and the city has hired an economics firm to…
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