The deal is done — for the land anyway. Halliburton officials have confirmed that they have completed purchase of 100 acres of land on the southernmost portion of the Hogue Industrial Park just north of the city.
The company remains mum however on details of its plans for the location.
David Partlow, Executive Director of the Brownfield Industrial Development Corporation, said in a news release Tuesday afternoon that the land acquisition is final.
“By purchasing the land it draws us one step closer to consummating our deal to keep Halliburton in Brownfield and allows them to expand their services here,” Partlow said in the release.
“Although they have purchased the land, finalizing the deal is still months away, as we are still putting our incentive package together. We anticipate that package to be complete around the first week of August when we plan to present it to them and hopefully soon after that a final decision can be made.”
Figures made public in an abatement request last month to the Terry County Commisioners Court indicated a substantial project is planned for the new location.
Partlow told the News that the company would announce its plans later this year, but he remains bound by a confidentiality agreement.
The commissioners, as well as the Brownfield Regional Medical Center board of directors, have approved a five year abatement deal for the oil services giant.
In the deal, Halliburton’s new location would be taxed at 50 percent its first year, sliding down 10 percent each year until the full value is taxed in the sixth year of operation.
by Brian Brisendine
July 10, 2013 Issue of the Brownfield News