Dis­trict OKs $1.2B tax break for Exxon

School board near Cor­pus Christi gives break for fu­ture plant.

Austin American-Statesman - - BUSINESS - By Rye Druzin San An­to­nio Ex­press-News Exxon

Exxon Mo­bil Corp. and its Saudi part­ner have been granted an es­ti­mated $1.2 bil­lion in tax breaks over 10 years from a South Texas school board to build a $9.3 bil­lion petro­chem­i­cal plant just north of Cor­pus Christi.

The Gre­gory-Port­land In­de­pen­dent School Dis­trict board unan­i­mously ap­proved the tax pack­age, despite op­po­si­tion from some in the community. The tax break is in­tended to help en­tice Hous­ton-based Exxon and part­ner Saudi Ara­bia Ba­sic In­dus­tries Corp., or SABIC, to build what would be the world’s largest eth­ane steam cracker plant in Port­land, a town of about 15,000 just north of Cor­pus Christi.

The joint ven­ture ear­lier got a sep­a­rate pack­age of tax in­cen­tives worth roughly $210 mil­lion over seven years from San Pa­tri­cio County.

The tax breaks are con­tin­gent on job cre­ation. Plans sub­mit­ted by project lead­ers to the Texas Comptroller’s Of­fice com­mit to cre­at­ing 13,570 tem­po­rary con­struc­tion jobs at av­er­age an­nual wages of $87,500 and 170 per­ma­nent jobs at av­er­age an­nual wages of $59,408. SABIC’s tax abate­ment ap­pli­ca­tion shows an ad­di­tional 1,750 tem­po­rary con­struc­tion jobs at av­er­age an­nual wages of $67,500 and 230 per­ma­nent jobs at av­er­age an­nual wages of $59,408.

Af­ter the fi­nal vote was tal­lied, Randy Eu­len­feld, pres­i­dent of

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