BROWNFIELD, TX— During their regular monthly meeting, the Brownfield Industrial Development Corporation’s Board of Directors approved offering Halliburton an incentive package totaling $600,000 to build needed infrastructure within the 100 acres of land on the Hogue Industrial Park located just north of the city.
“When we first starting talking with Halliburton in November of 2012, one of their infrastructure needs was rail.” said Partlow. “With the acquisition of the 100 acres they recently purchased in the Hogue Industrial Park, they had access to a main rail line but would need a spur to bring their product into the facilities they will build for their expansion of the existing plant. Since this was something they needed, we felt that by offering to pay for the rail spur or for other infrastructure needs would be the best incentive we could offer.”
As with all BIDC incentives, Halliburton must first build the spur, or other infrastructure, then seek reimbursement up to $600,000. BIDC incentive policy is to not pay fund upfront; but to wait until the facilities are built or jobs have been created and at end of each year, incentives can then be award. In this case, the spur/infrastructure has to be built first, then their cost are reimbursed.
This is just another part of the incentive package BIDCorp is assembling to keep Halliburton in Brownfield and allow them to expand their services here. Recently the County Commissioners and the Hospital District added to the incentive package by offering a five year tax abatement deal where Halliburton’s new location would be taxed at 50 percent in its first year, sliding down 10 percent each year until the full value is taxed in the sixth year.
“We still have a couple of other entities considering offering Halliburton additional incentives, but negotiations are ongoing with those entities and I can’t say what those are right now.” added Partlow. “But I believe when we are finished putting together the entire incentive package, we will have a very aggressive incentive package. “
It is anticipated the package to be complete around the first week of August and then it will be presented to Halliburton and hopefully soon after a final decision can be made to maintain the company’s presence in Brownfield.