Smith County approves tax abatement package for Jasper Ventures

Nov

Articled originally posted at: www.tylerpaper.com

 By Erin Mansfield, emansfield@tylerpaper.com | Nov 13, 2018

Smith County officials have agreed to give five years of tax abatements on an expansion at Jasper Ventures Inc. in the southeastern part of the county.

The Smith County Commissioners Court approved the manufacturing company’s tax abatement package 4-0 at a regular meeting on Tuesday. Commissioner Terry Phillips was absent. 

 Jasper Ventures will have 100 percent of its property taxes abated on an $11 million expansion for two years, starting in 2020. The percentage abatement will change to 80 percent during years three and four, and 50 percent during year five.

The company also is seeking abatements from the city of Whitehouse and Smith County Emergency Services District No. 2 as part of the package, according to the Tyler Economic Development Corporation, which is associated with the Tyler Area Chamber of Commerce.

Commissioner Cary Nix, who represents the southeastern part of the county, said it’s rare for these abatement packages to come to the Whitehouse area.

“It’s great for that community,” he said. “It’s great for Smith County.”

County Judge Nathaniel Moran also praised the deal.

“In truth, we’ve been talking with (company president Brent Jasper) for a year or so — a year and a half — about their expansion and what’s going on in their plant,” Moran said. “They’ve already grown from about 70 employees to over 200 employees.”

Moran said the company is “headed in a very, very good direction.” He credited the management for growth at the company.

Jasper Ventures is an engineering company that makes processing plants for the oil and gas industry. The company owns several subsidiary brands. The corporate headquarters are in Whitehouse, and there are manufacturing facilities in Troup and White Oak. The company has about 270 employees.

Under the abatement deal, Jasper Ventures will need to hire about 90 more employees over the five-year term and make the $11 million investment in its plants.

Jasper said in an interview the company bought 4 acres next to its Whitehouse corporate headquarters, and the plan is to build an additional 16,000-square-foot facility on the property.

The company also plans to expand its presence at its location in an unincorporated area of Smith County near Troup. The company bought land adjacent to that property, as well, and plans to build a new warehouse and turn its current facility into a pipe shop.

“Our business is growing altogether,” Jasper said. “There’s a great need for gas processing and gas plants out in the Permian Basin,” in West Texas, and in Oklahoma.

“There’s just been a great demand for new processing facilities, so our growth has really been spurred by trying to meet that demand,” Jasper said. “And we do that just through our reputation and history of providing world-class facilities over the last two and a half decades.”

He said the company also plans to make improvements to facilities to benefit employees, such as building a new break room and new restroom facilities.

Read the article at: https://tylerpaper.com/news/local/smith-county-approves-tax-abatement-package-for-jasper-ventures/article_6ac08c36-e772-11e8-9303-cbf92306fb95.html

 


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