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Council approves $650,000 DCUA incentive for local company expansion financing $5.9 million project
Summary
The council approved a $650,000 incentive from the Development Corporation of Abilene for a local manufacturing expansion (Project Hamilton) that will add a 30,000-square-foot building, $5.9 million of private investment, and 33 new full-time jobs.
The Abilene City Council approved a Development Corporation of Abilene (DCUA) incentive package for a local existing company, identified in staff materials as “Project Hamilton,” that will expand manufacturing operations in Abilene.
Misty Mayo, CEO of the DCUA, described the project as a local expansion with a planned $5,900,000 private investment to build a 30,000-square-foot facility, retain 19 existing full-time-equivalent jobs and add 33 new full-time-equivalent jobs. The DCUA board recommended a $650,000 incentive to be paid over up to five years of performance; the contract will include standard clawback provisions requiring the company to meet job and investment commitments or return funds.
Mayo said 33 new positions will be created and annual wages for retained and new jobs are above $52,000. She said the DCUA has a record of investing in local companies, and that 33 of the 40 projects in recent years were expansions of local firms. Council members had no public questions and the mayor opened and closed a public hearing with no speakers.
Councilman McAllister moved to approve the DCUA participation; Councilman Craver seconded. The mayor announced “all yeses, motion carries.” The company name will be made public when the contract is fully executed, per DCUA practice.
Votes: Motion to approve DCUA incentive (Councilman McAllister), second (Councilman Craver). Outcome: approved. Notes: incentive $650,000 over up to five years; private investment $5.9 million; 19 retained jobs, 33 new jobs.
