Local government officials in northwest Texas recently signed off on handing over perks—funded by taxpayers— to a corporation in Amarillo.
This week, members of the Amarillo Economic Development Corporation Board of Directors voted to approve an incentive package for Panhandle Pure LLC, a water bottling company. Their parent company is Affiliated Foods, a grocery store wholesaler that already has a warehouse location in Amarillo.
The package approved by the Amarillo EDC offers up to $300,000 in incentives for the company to be located in Amarillo, with officials saying the project could create up to 30 jobs. Amarillo residents can expect the company to receive $2,000 per employee under the terms of the agreement.
According to the Texas Comptroller’s website, Type A economic development corporations, such as the Amarillo EDC, “are typically created to fund industrial development projects such as business infrastructure, manufacturing and research and development. Type A EDCs can also fund military base realignment, job training classes and public transportation.” The Amarillo EDC is funded through sales tax revenues collected in Amarillo.
These deals are very common in Texas, as seen with Travis County’s offers of incentives to Tesla.
While the Amarillo EDC has signed off on the incentives, the agreement is now expected to head to the Amarillo City Council for a final vote of approval. Concerned citizens are encouraged to reach out to their city council members.