Houston to require firms to give more to get tax breaks - Newschannel 6 Now | Wichita Falls, TX

Houston to require firms to give more to get tax breaks

By JUAN A. LOZANO
Associated Press

HOUSTON (AP) - Houston has approved new rules outlining additional community benefits companies seeking tax breaks for development projects will need to provide in order to get financial incentives from the city.

The new benefits - including improved training and affordable housing for the local workforce - are geared in part toward helping development in economically challenged communities.

The discussion in Houston over its tax abatement program is similar to others being held in other cities around the country over how communities can get the most from programs that offer tax breaks to spur economic development.

In 2016, voters in Detroit passed an ordinance aimed at making sure developers get input from community members on benefits local residents would like to receive from companies in exchange for tax breaks.

Copyright 2018 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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