With only one more taxing entity left to make a decision if it will participate or not, the Brownfield Industrial Development Corporation is almost finished assembling their incentive package they will present to Halliburton next week.
This latest piece to the presentation, the City of Brownfield offering to run city water and sewer to the 100 acres Halliburton site in the Hogue Industrial Park, is a key part of the incentive plan.
“When negotiations began in November of 2012, one of the most important infrastructure features that Halliburton was looking for was city water and sewer.” said David Partlow, BIDCorp’s Director. “The estimated cost to run water and sewer to the site will be between $1.5 – $2 million. The site is over ¾ of a mile from the nearest city water and sewer lines.
The Council has authorized City Manager Eldon Jobe to work with a local attorney to write up the incentive contract, but to have it include a “claw-back” phrase where if Halliburton doesn’t succeed in having at least $40 million in taxable property after 5 years they must repay the city on a pro-rated payback schedule yet to be worked out.
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 Brownfield Industrial Development Corporation extended an offer to reimburse Halliburton for infrastructure cost up to $600,000, and the County Commissioners and the Hospital District added to the incentive package by offering a five year tax abatement deal.
“We still have one other entity considering offering Halliburton an incentive, but negotiations are ongoing with that entity and I can’t say who it is or what that incentive might be 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. Our incentive proposal should be assembled by next week and then we will present it to Halliburton and hopefully soon after a final decision can be made.”