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W.R. Grace outlines $15 million investment and estimated tax impact in ITEP briefing
Summary
W.R. Grace officials described a proposed $15 million investment in polypropylene catalyst production, estimated to generate about $2.3 million in additional property tax revenue over 10 years; staff explained an ITEP approval would exempt 80% of the incremental tax under current rules, leaving the school system with roughly $200,000 over 10 years.
W.R. Grace representatives briefed the committee on a proposed investment at a local site to produce polypropylene catalyst for export and domestic customers. Kyle Roesch, the plant manager who spoke for the company, said the facility produces roughly 150 metric tons per year and packages product in 55-gallon drums; the company estimates a capital investment a little over $15,000,000 for the project.
Staff shared BoardDocs estimates of the property-tax impact: roughly $2,300,000 over 10 years (about $233,000 per year) in additional property taxes from the investment, with the school system’s share estimated at about $100,000 per year. Staff explained that if the ITEP is approved by the school board under current rules, 80% of the incremental tax would be exempted and roughly $200,000 would still be received over 10 years; estimated sales-tax benefits to the school system were also discussed (~$160,000). "So the quick summary about w r Grace... we produce roughly a 150 metric tons a year," the company representative said while describing operations and the proposed investment.
Staff asked whether company representatives would attend the full board meeting; the company said representatives could attend if the board wished. The committee thanked the presenters and noted they will include the ITEP application on the board agenda for consideration.
