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Crockett approves tax abatement, authorizes mayor to sign agreement with A and A Texas Capital LP
Summary
After a brief public hearing, the Crockett City Council approved a tax abatement and incentives agreement with A and A Texas Capital LP that commits to new jobs and roughly $3.63 million in improvements; a resident questioned whether the deal amounted to "giving this property away."
The Crockett City Council on Tuesday approved a tax abatement and incentives agreement with A and A Texas Capital LP, authorizing the mayor to execute the deal following a short public hearing.
The agreement, tied to Reinvestment Zone Number 1, commits the company to create new primary jobs with a combined minimum annual salary of $762,934 within 36 months, build approximately 6,500 square feet of office space and about 20,000 square feet of manufacturing, warehousing and distribution space, and carry out…
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