An incoming business to Grimes County will be getting a small tax break, as they set up shop in the area.
In December, Executive Director for the Chamber Johnny McNally presented a tax abatement application from Skyline Champion Homebuilders, as they move to Navasota. But, after forming a committee, McNally says the proposed making the whole thing a 381 agreement instead of a tax abatement.
“Rather than have a five year abatement, this would become a three year tax refund, in the amount of 100% the first year, 50% the second year, and 25% the third year. There were some other items that had to be fulfilled for this to happen…agree to a minimum investment of $5 million, and a cap on those recruitments of $5.5 million, for purposes of tax refund,” said McNally at last week’s Commissioner’s Court meeting.
He says they will also work with the company and commissioners to ensure the target hiring rate for Grimes County residents.
As for how much this totals out to be in the long run…
“The dollar value, according to the application, for the tax refund over three years is about $51,000,” said McNally.
General Manager for Skyline Champion Scott Isom was also in attendance, saying they are in production now, after getting set up in September.
“We are training, building components…we do not have a rich depth of experienced help, but we have a robust training program,” said Isom. “We are getting ready for the federal certification, and expect to have a ribbon cutting, and celebrate with the community a little bit, in April.”
The Commissioners approved the 381 agreement with Skyline Champion.