· Related development
City Council approves hydraulic hose plant incentive with 20.7 acres in the South Georgia park area, 4-0
The council voted 4-0 to approve an AEDC location incentive agreement with A-5 Realty, LLC and A-7 Austin, LLC, a hydraulic hose manufacturer, providing $300,000 for full-time jobs paid over five years and conveyance of 20.7 acres valued at $724,500, and a 60% tax abatement for six years. The Globe-News placed the planned 100,000 square-foot hydraulic hose plant at South Georgia Street and East Farmers Avenue.[1][2]
Kevin CarterFreda PowellEddy SauerHoward SmithCole StanleyAmarillo Economic Development Corporation (AEDC)A-7 Austin, LLC (hydraulic hose manufacturer; with A-5 Realty, LLC)
What the sources say
- ✓ Verified
On August 2, 2022 the council voted 4-0 (Mayor Nelson absent) to approve an AEDC location incentive agreement with A-5 Realty, LLC and A-7 Austin, LLC (a hydraulic hose manufacturer), providing $300,000 for full-time jobs paid over five years as they are created and conveyance of 20.7 acres valued at $724,500, and 4-0 on a tax abatement of 60% for six years on construction and equipment costs. [1][2]
- Job incentive
- $300,000
- Acres conveyed
- 20.7
- Land value
- $724,500
- Abatement
- 60%
- Abatement years
- 6
- ✓ Verified
The Globe-News reported (projections) a $10 million, 100,000 square-foot plant on 20.7 acres at South Georgia Street and East Farmers Avenue, 20 new employees in phase one and 30 in total, and an economic impact of about $60 million over 20 years as estimated by the AEDC president. [2]
- Projected investment
- $10,000,000
- Projected jobs
- 30
- ✓ Verified
The AEDC's January 31, 2025 project report lists the A-7 Austin project with an original project amount of $650,000, no prior-year payments, $130,000 budgeted for the year and $520,000 in future commitments. The report does not break the $650,000 into components. [3]
- Original project
- $650,000