[CPEO-BIF] American Spiral Weld Company offered incentives to come to Paris, Texas

[Lenny Siegel <lsiegel@cpeo.org>]

The fate of a new manufacturing company in Paris is one step closer

By Amanda Catchall 
eParis Extra (TX)
July 16, 2018

Paris Economic Development Corporation is set to ask the city for approval of revised incentives to entice American Spiral Weld Company to come to Paris.

PEDC Executive Director Michael Paris said, in addition to the land given, PEDC members would like to make a commitment to cover the cost of the setting up the property into three phases: Greenfield, Brownfield and Wetlands. The Greenfield portion, totaling about 98 acres, will be phase one. The Brownfield cleanup, totaling about 35 acres, will be phase two and the Wetlands section, totaling about 5 acres, will be phase three

Paris said cash would be given upfront to the project at $2.5 million. He said $500,000 would be from PEDC for rail and $1 million will be funded from a loan from local financial institutions to the company for each employee of ASW. Another $1 million will go toward the institution after a threshold has been met. That threshold, he said, has not yet been set.

…

For the entire article, see
https://eparisextra.com/all-business/fate-manufacturing-company-step-closer/

--

Lenny Siegel
Executive Director
Center for Public Environmental Oversight
a project of the Pacific Studies Center
P.O. Box 998, Mountain View, CA 94042
Voice/Fax: 650/961-8918 
<lsiegel@cpeo.org>
http://www.cpeo.org

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