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Manufacturer, 150 jobs coming to Bastrop; EDC offers $400K incentive

The Bastrop Economic Development Corp. is offering up to $400,000 in incentives to a granite and stone material manufacturing company to move to Bastrop, build a $9 million, 50,000-square-foot facility and hire 150 employees over five years, according to an economic incentive package the corporation’s board approved Monday.

According to the corporation, Granite & Stone LLC, an importer, wholesaler and fabricator of granite and stone materials, is proposing to purchase about 5.5 acres of land in the northwest portion of the Bastrop Business and Industrial Park at a cost of $215,622. The company plans to build a 50,000-square-foot facility that will house its fabrication, stone yard, administrative offices and retail showroom.

Granite & Stone is proposing to invest up to $9 million in real property, personal property and working capital in the facility.

“Granite & Stone LLC is going to be an excellent addition to the Bastrop Business Park,” corporation executive director Shawn Kirkpatrick said. “The company intends to hire up to 150 employees and invest up to $9 million in their 50,000-square-foot facility. This project announcement provides our residents the opportunity to live and work in Bastrop with good paying jobs that include benefits.”

Once the facility is completed, the corporation will rebate the company $96,000, according to the agreement. A second $96,000 allocation will be rebated to the company once it hires 50 employees and completes its first year in operation.

The corporation is providing a job creation incentive in the maximum amount of $112,500 over five years, if the company hires 150 employees. It will also rebate a quarter of the sales tax the corporation collects from the company’s retail sales after an initial $5 million every year for five years. The corporation estimates it will rebate the company $86,625 over the life of the agreement.

Read the full article at Stateman.com