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Commissioners OK tax abatement for new $90M plastics facility
Calhoun County commissioners designated Formosa Plastics Corporation's newest project a reinvestment zone and approved an application for tax abatement Thursday.
The action followed a public hearing in which no citizens commented.
"The Calhoun County Commissioners Court approved a tax abatement program that will help Formosa Plastics locate another plant at their Point Comfort site," Jack Wu, vice president in charge of development, said. 'The new plant will help the Formosa Point Comfort site remain competitive in the industry, as well as provide new jobs to further improve the economic development of Calhoun County and the surrounding areas."
The proposed plant will produce specialty polyvinyl chloride resin.
SPVC is used to manufacture items such as medical gloves, traffic cones, coating materials and window blinds. Some of the SPVC used in North America now is imported. The new plant will cost about $90 million to construct and provide around 100 full-time jobs. The project will require 500- 600 workers during the peak construction.
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