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MegadealsSubsidy Tracker Individual Entry
Company: OCI Beaumont
Parent Company:
OCI N.V.
Subsidy Source: local
Location: Texas
City: Beaumont
County: Jefferson
Project Description: Ammonia and biomass fuel plant
Year: 2022
Major Industry of Parent: chemicals
Specific Industry of Parent: fertilizers
Subsidy Value: $362,970,582
Program Name: Chapter 313/Economic Development Act
Awarding Agency: Beaumont ISD
Type of Subsidy:
MEGADEAL
Number of Jobs or Training Slots: 30
Wage Data: $61,764
Wage Data Type: Average annual wage
Capital Investment: $4,875,000,000
Source of Data: Chapter 313 School Value Limitation Agreements #1741:
(click here). Chapter 313 School Value Limitation Agreements #1742:
(click here). Jana Stafford, April 21, 20222, "Nearly $5B expansion in the works at OCI's Beaumont facility," Business & Industry Connection Magazine,
(click here). Courtney Pedersen, December 7, 2022, "Construction on new Beaumont plant kicks off," Beaumont Enterprise,
(click here).
Notes: OCI will expand its facility in Beaumont, Texas to include a new nitrogen production complex and a gasification unit for converting biomass from wood waste into fuel. The company has been awarded two 15-year Ch. 313 property tax abatements from the Beaumont ISD for each phase of the project: $209 million for the nitrogen production complex and $154 million for the biomass fuel production. Investment, job creation, and wage figures are all drawn from the company's abatement applications, but in subsequent news coverage OCI has indicated that total investment spending will be less than originally anticipated and that the number of new permanent jobs created higher. OCI has also indicated it intends to claim federal 45Q income tax credits for carbon capture, storage, and sequestration projects, which were expanded under the Inflation Reduction Act (not included in subsidy total). Overlaps with main Subsidy Tracker data: none.
Source Notes: If an online information source is not working, check the Tracker
inventory page for an updated link.