One company could be getting a big incentive package, funded by Amarillo taxpayers.
Last week, the Amarillo City Council approved a tax abatement and incentive package for Cacique LLC. The company, which is a producer of Latin dairy products and salsas, is considering Amarillo as a potential site for its possible expansion project.
Under the deal approved by the Amarillo City Council and Amarillo Economic Development Corporation, the company would receive a 100 percent tax abatement for 10 years on future taxes on construction and equipment costs. The company would also receive a tax incentive package of up to $5 million, paid out over five years.
Officials said the company has also submitted an application with the Texas Enterprise Fund, and they expect to hear a decision on that application by the end of the month.
While the incentive deal has been finalized by the Amarillo City Council, the abatement deal still has a few more hurdles to cross before it can be finalized. In addition to the council, the abatement has been approved by the Amarillo College Board of Regents and is set to go before the Randall County Commissioners Court and the High Plains Underground Water Conservation District Board.
