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RVP Presents Annual Eco-Devo Compliance Reports To The City Councils

The Research Valley Partnership (RVP) presented annual reports at the last Bryan and College Station city council meetings of eight agreements the economic development agency monitors.

The RVP’s Charles Martinez says those agreements combine for more than $53 million dollars in payroll and more than $434 million in property valuation.

Martinez says Axis Pipe and Tube is exceeding what is required for their agreement, as the manufacturer is in their first year of making a payment in lieu of property taxes. AXIS is judged by a formula involving a combination of factors. Separately, Axis has invested more than $281 million dollars in its plant and equipment, which is more than twice the $120 million that is their target. Axis has 149 employees, just over half of the target of 285. Their payroll $9.5 million dollars, which is $1 million short of its target.

Another agreement Martinez explained at length was the FUJIFILM pharmaceutical plant in the biocorridor, which was purchased from the Texas A&M System. FUJIFILM’s investment in buildings and equipment is $84 million dollars, which is above the requirement of $70 million. And FUJIFILM’s payroll, at almost $7.5 million, is above their $6 million dollar requirement.

Martinez says two companies who are in their final year of incentive agreements continue to exceed minimum requirements. One is Kent Moore Cabinets. The other is College Station software company Reynolds and Reynolds.

Martinez also reported on the first year of a second agreement with the Bryan specialty chemicals manufacturer Lubrizol, where an expansion will be completed by the end of this year.

Martinez also had updates for agreements with Nutrabolt, ViaSat, and Wayfair.

Click HERE to read and download the presentation given by Charles Martinez.

Click below for comments from Charles Martinez at the July 25, 2017 Bryan city council workshop.

072517-RVP-presentation-to-Bryan-council.mp3

 

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Posted by on Aug 4 2017. Filed under Featured Stories, News.

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