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Oct 25, 2022 · Context

Council approves $720,000 AEDC incentive, 30-acre conveyance and eight-year abatement for Coast Packing, 4-0

The council voted 4-0, with Councilmember Smith absent, on an AEDC location incentive agreement with Coast Packing Company – South: $720,000 for jobs paid over 10 years as they are created and 30.03 acres valued at $1,200,000. A second 4-0 vote approved an 80%, eight-year abatement on an estimated $30 million in improvements, in Reinvestment Zone No. 21.^[1]^[2]

Ginger Nelson Freda Powell Eddy Sauer Cole Stanley Amarillo Economic Development Corporation (AEDC)Coast Packing Company

What the sources say

✓ Verified
Mayor Pro Tem Powell moved and Councilmember Sauer seconded both items. The location incentive agreement provides Coast Packing Company – South $720,000 for jobs, paid over 10 years as they are created, and conveys 30.03 acres valued at $1,200,000. The tax abatement agreement provides 80% for eight years on $30,000,000 in estimated improvements. Each passed 4-0 (Nelson, Powell, Sauer, Stanley); Councilmember Smith was absent.^[1]
Incentive
$720,000
Land value
$1,200,000
Acres
30.03
Abatement
80%
Abatement years
8
✓ Verified
The AEDC memo projected (not results) $30 million in improvements and equipment, 60 new employees and $3,300,000 in new annual payroll, and said the AEDC board approved the agreement 5-0 on October 11, 2022. The draft abatement agreement recites that the council adopted Ordinance No. 8026 on October 25, 2022 establishing Reinvestment Zone No. 21, and places the Coast premises in that zone.^[2]
Projected jobs
60
Projected annual payroll
$3,300,000
✓ Verified
The AEDC's audited statements describe a larger total than the council motion: a $2,921,200 commitment made up of up to $720,000 in job incentives, $1,000,000 in railway (rail infrastructure) improvements and land worth $1,201,200. The council minutes do not mention the rail allowance; the AEDC board minutes of October 11, 2022 do ('up $1,000,000.00 in rail infrastructure in a location in CenterPort Business Park'). ^[3]^[4]^[1]^[5]
Total commitment
$2,921,200
Rail
$1,000,000
✓ Verified
The AEDC board minutes of October 11, 2022 record the rail allowance: 'a job creation incentive of $12,000/job for up to 60 jobs as well as up $1,000,000.00 in rail infrastructure in a location in CenterPort Business Park' and conveyance of 30.03 acres, approved unanimously.^[5]
Job incentive
$720,000
Rail infrastructure
$1,000,000
Acres
30.03

Sources

1.Amarillo City Council Regular Meeting Minutes, 2022-10-25 — City of Amarillo, Oct 25, 2022 · retrieved Oct 14, 2026primarySubject-authoredScanned minutes (OCR). Item 3D: "A motion was made to approve Western Builders, Inc as Construction Manager at Risk for the renovation of the Amarillo Hardware Building for the new City Hall ... with a price not to exceed $28,000,000.00" ... "absent was Councilmember Smith; the motion passed by a 3-1 vote."
2.Amarillo City Council Regular Meeting Agenda (with attachments), 2022-10-25 — City of Amarillo, Oct 25, 2022 · retrieved Oct 16, 2026primarySubject-authoredScanned file read with OCR. AEDC memo: "60 new employees projected", "$3,300,000 new annual payroll projected"; AEDC board approved the LIA 5-0 on October 11, 2022. Draft abatement agreement: "the City Council adopted Ordinance No. 8026 establishing City of Amarillo Reinvestment Zone No. 21".
3.Amarillo Economic Development Corporation Financial Statements (audit), September 30, 2023 and 2022 — Amarillo Economic Development Corporation, Mar 27, 2024 · retrieved Oct 16, 2026primarySubject-authoredScanned file read with OCR. Note 20: "In November 2023, AEDC conveyed land valued at $1,201,200 to Coast Packing Company-South, LLC"; "In February 2024, AEDC conveyed 413 acres of land valued at $4,961,160 to Plant AS". Note 16: Jax Transport "$75,000 of funds have been expended".
4.Amarillo Economic Development Corporation Financial Statements, September 30, 2022 and 2021 — Amarillo Economic Development Corporation, Mar 21, 2023 · retrieved Oct 16, 2026primarySubject-authoredAudited statements; scanned file read with OCR. Issued March 21, 2023 (Note 20). MD&A lists FY2022 approvals (Caviness, CVMR, Producer Owned Beef, Innovation Outpost, TWC matching funds, Albers, A-7 Austin) and says North Heights Linen Service received "$0.2 million in a location incentive" in 2021. Note 16 lists commitments; it does not name Mateen Bar USA or Horizon Ag Products.
5.Amarillo Economic Development Corporation Board of Directors minutes, October 11, 2022 — Amarillo Economic Development Corporation (via City of Amarillo CivicClerk), Nov 14, 2022 · retrieved Oct 22, 2026primarySubject-authoredScanned minutes (OCR); figures checked against the page images. 'published' is the date the board approved these minutes, as recorded in the minutes of that later meeting.