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Council approves $3 million AEDC job incentive and $300,000 facility reimbursement for Jax Transport, 5-0
The council voted 5-0 on an AEDC location incentive agreement with Jax Transport, LLC: $3,000,000 paid over five years on a 10-year performance term for up to 200 jobs, and reimbursement of $300,000 toward a new facility as the money is spent. The AEDC board had approved the deal on November 14, 2022, according to NewsChannel 10.[1][2]
Ginger NelsonFreda PowellEddy SauerHoward SmithCole StanleyAmarillo Economic Development Corporation (AEDC)Jax Transport, LLC
What the sources say
- ✓ Verified
Mayor Pro Tem Powell moved and Councilmember Sauer seconded the location incentive agreement: the AEDC will provide Jax Transport, LLC $3,000,000.00, paid out over 5 years on a 10-year performance term, for up to 200 jobs, and will reimburse Jax $300,000.00 toward the cost of the new facility as the funds are spent. It passed 5-0 (Nelson, Powell, Sauer, Smith, Stanley).[1]
- Incentive
- $3,000,000
- Facility reimbursement
- $300,000
- Projected jobs
- 200
- ✓ Verified
NewsChannel 10 reported that the AEDC board voted on November 14, 2022 to approve up to $3 million over five years for Jax Transport, an Amarillo company that hauls refrigerated trailers, to create up to 200 jobs, plus $300,000 toward a $2 million headquarters the company was building. The AEDC's audited statements describe a minimum capital investment of $2,000,000 to build and equip the facility.[2][3]
