The corporation had failed to meet a requirement to have 470 employees at each of its buildings in The Woodlands as of the January reporting period, county officials previously reported. It would have faced paying about $4 million to taxing entities including Montgomery County unless it complied within 30 days, Community Impact Newspaper previously reported.
“We have received notification from ExxonMobil that they are in compliance; they have moved 477 employees from their campus located in Spring and the adjoining building, to building B, bringing them into compliance with the terms of the agreement,” Montgomery County Tax Assessor-Collector Tammy McRae said at the April 27 meeting.
McRae said the company would follow up with other governing bodies that have granted an abatement, including The Woodlands Township.
In 2013, Montgomery County Commissioners Court and The Woodlands Township board of directors each approved two 10-year 100% tax abatements to ExxonMobil for one and a half office buildings and an 11-story parking garage in the Hughes Landing development in The Woodlands.
As part of the agreement, the company was required to meet various job-creation requirements.
Commissioners updated the county’s tax abatement guidelines March 30 to include language stating the county’s goals in allowing those abatements, and The Woodlands followed suit, updating its own guidelines April 22. Updates included clarifications to the county’s intent in employing the incentives.
“Montgomery County adopts these guidelines to provide incentives for businesses to invest in Montgomery County,” the resolution states. "Montgomery County intends to be competitive in attracting businesses to locate, relocate and/or consolidate their facilities within the county without detrimentally affecting existing enterprises.”
Eva Vigh contributed to this report.
