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Owens Corning seeks $1.36M city tax abatement and Texas Enterprise Zone nomination for Houston plant expansion
Summary
Owens Corning proposes a roughly $39 million investment at a Houston facility that would retain 105 jobs and create 75 new jobs; staff recommended a local tax abatement as the local match to a $750,000 Texas Enterprise Fund award and outlined a projected city abatement cap of about $1.36 million over 10 years.
Senior Staff Analyst Andrew Busker of the Mayor—s Office of Economic Development presented details on a proposed incentive package for Owens Corning Roofing & Asphalt, which would add a new manufacturing product line at an existing Houston facility and require local and state incentives to be competitive with two out-of-state alternatives.
Busker said Owens Corning is proposing about $39,000,000 in total investment at 8360 Market Street (District B), including roughly $33 million in machinery and equipment; the proposal would retain 105 jobs and create 75 new jobs over a roughly three-year ramp-up (00:27:48). He told the committee the company…
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