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Mayor's office proposes Powell Electrical Systems for Texas Enterprise Zone nomination
Summary
The Mayor’s Office of Economic Development recommended nominating Houston-based Powell Electrical Systems for a Texas Enterprise Zone designation, citing an $8 million investment and new and retained jobs; council members questioned whether the state tax rebate would change the company’s plans.
The Mayor’s Office of Economic Development told the Houston Economic Development Committee it will propose nominating Powell Electrical Systems Inc. for a Texas Enterprise Zone designation, a state program that can reimburse eligible projects for state sales-and-use taxes, senior staff analyst Andrew Busker said.
The nomination would be placed on the City Council agenda on April 30 for consideration, Busker said; he said the company plans about $8 million in capital investment over five years across two Houston sites and listed 15 new jobs and a larger number of retained jobs in the company’s application. The state program requires a municipal or county nomination and is intended to encourage companies to invest in under-resourced census tracts, Busker said.
The Texas Enterprise Zone program is created in the Texas Tax Code, chapter 2303, and is administered by the state. It operates on a rolling application process and requires a…
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