Subsidy Tracker Individual Entry
The value of the Texas Enterprise Fund financing comes from Gov. Abbott's April 19, 2017 press release available at https://gov.texas.gov/news/post/A-Multibillion-Dollar-Petrochemical-Proj.... The value of the local tax abatements, jobs and investment levels were reported by Jack Witthaous in "Tax break approved for Exxon and SABIC's massive $10B petrochem project" on March 22, 2017 in the Houston Business Journal; online at : http://www.bizjournals.com/houston/news/2017/03/22/tax-breaks-approved-f.... Local tax breaks were also reported by Olivia Pulsinelli in the Houston Business Journal on April 19, 2017 in "Exxon, SABIC officially pick location for proposed $10B petrochem project," at http://www.bizjournals.com/houston/news/2017/04/19/exxon-sabic-officiall...
The project is a partnership between ExxonMobil Chemical Company and SABIC US Projects LLC. The reported state and local subsidy package includes an estimated $460 million from Chapter 313 tax abatements approved by the Gregory-Portland School Board and other unspecified tax abatements approved by the San Patricio Commissioners Court. In addition, the project was approved for Texas Enterprise Fund awards of $1.35 million for SABIC US Projects and $5 million for Exxon. ?Overlaps with main Subsidy Tracker data: none.