Commissioners Approve Tax Abatement for Local Businesses - Newschannel 6 Now | Wichita Falls, TX

Commissioners Approve Tax Abatement for Local Businesses

Commissioners met on Thursday to approve changes to tax abatements affecting a handful of Texoma businesses.  There was a rush on these abatements because the incentives were set to expire tomorrow.

Natura World and Cryovac were able to renew their incentives.  Changes the county made to it was adding personal property to the tax abatement list.  That means investments in equipment and not just buildings can receive an incentive.  It's a win win for the both the county and these local businesses.

"It means we're going to have a long time business partner and the county is going to
 have more investments here and more jobs," said Wichita County Judge, Woody Gossom.

"It just provides a great platform for growth," said Barry Hardin with Cryovac.

Hardin says their abatement in Wichita Falls was renewed for another 10 years.  He doesn't know a firm number on what their incentive is.  He did add that they will be expanding and adding an additional 13 jobs.

Also on the agenda for tax abatement action was Latex International, but they did not pursue it at this meeting.

Tim Chase with the Wichita Falls Chamber of Commerce says in the past year the city has renewed, expanded, and added 12 companies to the area.  That's the most the city has seen in at least three decades.

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