The Bryan city council has approved an economic development agreement with a local chemicals manufacturer.
The eight year property tax break is based on a minimum $25 million dollar addition at the Lubrizol plant in the Brazos County Industrial Park. That includes a building with a minimum size of 66,000 square feet.
City manager Kean Register says the company will add at least 24 employees.
Councilman Al Saenz asked Register about residency requirements for the new workers, which will generate one and a half million dollars a year in pay and benefits.
Lubrizol is one of Warren Buffett’s Berkshire Hathaway companies.
The agreement calls for the expansion to be completed in two years. And the city will reimburse Lubrizol up to $75,000 dollars in development fees.
Click HERE to read the background information presented to the Bryan city council.
