Business Matters February 2017 - Page 17

PROJECT FACTS

THE PROJECT WILL BE A SIGNIFICANT JOB CREATOR -More than 11,000 construction jobs over the 5-year period -More than 3,500 indirect jobs from project ' s sheer economic footprint -More than 600 permanent jobs
-Average annual salary of $ 90,000 and benefits
MASSIVE INVESTMENT IN THE COMMUNITY -The project is a multi-billion dollar project to the region
-Projects of this scale do not come around very often -The project will provide job / skill training for the community and students
-High Schools and Del Mar College
TAXES -The project is projected to contribute $ 200 million in taxes to the county
GPISD
-WAUG supporters attended board meeting -Exxon and SABIC have filed a tax abatement application with Gregory- Portland ISD -The program is very complex but it ' s important to remember the companies will still pay taxes ; it ' s a question of who gets those taxes- GPISD or the state . Additionally , Exxon and SABIC could choose to come here without the abatements .
TAX ABATEMENT BACKGROUND
-What happens if GPISD enters into agreement ? -Gregory-Portland ISD receives $ 200 million in taxes during the eightyear abatement period . -Gregory-Portland ISD retains the authority to negotiate terms and ensure they are met by the project . If the project doesn ' t meet the requirements , it doesn ' t get the state tax break .
-What happens if GPISD does not enter ? -Gregory-Portland ISD misses out on more than $ 200 million in taxes . The project pays the taxes but the state does not return them to the school district .
WHERE DO WE GO FROM HERE ? -GPISD board meeting February 21st -More discussion is needed as a community
HOW CAN YOU GET INVOLVED ? -Facebook page is up and running- Please like us ! -Sign up for email updates
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