An Amazon.com fulfillment center in Fernley, Nevada.[/caption]
Harris County Commissioners Court approved June 28 the creation of a reinvestment zone at Beltway 8 and I-45 N. where Amazon is seeking a tax abatement for a warehouse and fulfillment center.
The proposed $136 million project would add $82 million in value to the property when completed and would bring 1,000 new full-time, permanent jobs to the area and retain 43 full-time jobs, according to a project summary submitted to the court by the county Community Services Department.
The project summary calls for a 10-year abatement of 65 percent of the property tax revenue on the property’s added value, contingent on the creation of new jobs.
“Commissioner’s Court believed that with the value of the improved property in the long term plus the promise of as many as a thousand new jobs, the math made sense to pass it without comment,” said Mark Seegers, Harris County Precinct 4 communications director.
The current annual tax revenue received by the county from the property is $61,012, but that annual revenue will grow to $393,314 after the abatement if Amazon builds there, according to county documents.
Over the 10 years, Harris County would receive more than $3.3 million from the added value of the property.
The proposed facility is an 855,000-square-foot fulfillment center with warehouse and distribution space on 71 acres at the 971-acre Pinto Business Park.
Amazon did not immediately return calls seeking comment.
An Amazon.com fulfillment center in Fernley, Nevada.[/caption]
Harris County Commissioners Court approved June 28 the creation of a reinvestment zone at Beltway 8 and I-45 N. where Amazon is seeking a tax abatement for a warehouse and fulfillment center.
The proposed $136 million project would add $82 million in value to the property when completed and would bring 1,000 new full-time, permanent jobs to the area and retain 43 full-time jobs, according to a project summary submitted to the court by the county Community Services Department.
The project summary calls for a 10-year abatement of 65 percent of the property tax revenue on the property’s added value, contingent on the creation of new jobs.
“Commissioner’s Court believed that with the value of the improved property in the long term plus the promise of as many as a thousand new jobs, the math made sense to pass it without comment,” said Mark Seegers, Harris County Precinct 4 communications director.
The current annual tax revenue received by the county from the property is $61,012, but that annual revenue will grow to $393,314 after the abatement if Amazon builds there, according to county documents.
Over the 10 years, Harris County would receive more than $3.3 million from the added value of the property.
The proposed facility is an 855,000-square-foot fulfillment center with warehouse and distribution space on 71 acres at the 971-acre Pinto Business Park.
Amazon did not immediately return calls seeking comment.
