Brazos County Commissioners set to discuss tax Incentives for EVAPCO’s manufacturing expansion
BRYAN, Texas (KBTX) -Brazos County commissioners are set to consider and approve an economic development agreement with a local provider of refrigeration valves and systems during Tuesday’s meeting.
EVAPCO, the parent company of RVS, is looking to expand its manufacturing operation near its existing site on Crosswind Drive, off Highway 21 in Bryan.
With over four decades of dedicated service to the industry, EVAPCO remains at the forefront, offering unparalleled and tailored solutions to address all cooling requirements.
Click below to learn more about EVAPCO’s history!https://t.co/EdNmSUoLs1#EVAPCOfor Life pic.twitter.com/H5P27wSFdX
— EVAPCO (@EVAPCO_Inc) August 21, 2023
EVAPCO is known worldwide for its heat transfer solutions and specializes in creating eco-friendly evaporative cooling and industrial refrigeration products like cooling towers and closed-circuit coolers. According to the company’s website, they prioritize energy efficiency across industries such as HVAC, industrial processes, and power generation.
The new facility is expected to generate an additional nine million dollars in taxable value and create 90 new full-time positions with an average salary of $65,000 by December 31, 2026.
In return, the county will offer tax incentives in exchange for the achieved economic milestones.
In accordance with Texas Tax Code Chapter 381, counties have the option to offer grants or loans of county funds or services to foster economic development. This can encompass a Chapter 381 grant provided through a county sales or property tax rebate.
In these agreements, local governments can choose to provide various incentives to businesses, including tax cuts, grants, and other financial benefits. These incentives are often offered to attract new companies, create jobs, and boost the local economy. The specific details of each agreement can vary significantly based on the community’s needs and the nature of the business involved.
According to the proposed agreement, Brazos County leaders say they strongly desire this employer to expand its facilities in Brazos County, increase the tax base, and generate new employment opportunities for residents.
A copy of the proposed Chapter 381 economic development agreement with EVAPCO, Inc. can be found below.
Commissioners are set to meet Tuesday at 10:00 A.M. at the Brazos County Administration Building located at 200 S Texas Ave, Bryan, TX 77803.
Proposed Chapter 381 Economic Development Agreement Between Brazos County and EVAPCO, Inc. by KBTX on Scribd
