Company wants tax breaks to redevelop LeTourneau site
Published: December 13,2012
Tags: county, development, economic development, enertgy, exemption, fuel, gasoline, government, industrial, land, manufacture, manufacturer, manufacturing, Oil, petroleum, property, real estate, redevelopment, supervisor, tax, tax break
VICKSBURG — A company that proposes to redevelop the former LeTourneau Technologies site says it needs a tax exemption on up to $41 million in equipment and buildings.
A representative for Cameron International Corp., the Houston-based oil services company that bought the LeTourneau yard in 2011, told Warren County supervisors Monday the company plans to create about 167 jobs over a decade.
The Vicksburg Post reports Wes Bowen of Harvest Group, LLC, a Tennessee tax incentive negotiation firm hired by Cameron, told supervisors the company needs new flattening presses, paint booths, cranes and an improved sprinkler system as part of an expansion.
The company is seeking assurances from supervisors that a property tax exemption will be approved. A formal request for the tax break will be filed in June 2013.
“We want this facility to have good jobs that last for a long time,” Bowen said. “What you’ll see in the next few years is a conversion from temp and contract labor to full-time employment, which is what everybody wants — with benefits and all those types of things,” he told the supervisors.
Cameron has refocused the facility’s business plan on component kits for offshore oil drilling rigs instead of full-size jackup rigs made locally for years under previous owners.
Annual salaries of new hires would average $40,000, according to an overview of the expansion provided to the supervisors.
“We embrace this growth and we want to help any way we can,” Board President Bill Lauderdale said, adding it would benefit the company to involve officials such as the tax assessor to ensure the improvements would meet all requirements for an exemption.
Cameron employs more than 19,000 people at 300 sites worldwide.
To sign up for Mississippi Business Daily Updates, click here.
Top Posts & Pages
- Investigators find massive Ag Museum fire was an accident
- Half century of memories — Christmas on Deer Creek to celebrate 50th anniversary
- Bryant wants free tuition for students with technical diploma
- Analyst: KiOR Columbus plant may end up sold as scrap
- Prison-contract task force working in wake of Epps' indictment
- (UPDATE) Gov. Bryant: $1.2 billion aluminum plant is a very exciting proposition for the state of Mississippi
- Former MDEQ Executive Director Trudy Fisher joins Butler Snow
- BILL CRAWFORD: Bryant’s tax cut won’t stop spending growth
- WILLOUGHBY: Bernie Reed cites hard work as key to success of Reed’s Metals