Posted 12:28 am Wednesday, August 08, 2012
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Hyponex Offered Tax Deal
An Ohio company received a little more incentive to come to Tyler during the Smith County Commissioners Court's Tuesday meeting.
Hyponex Corp., which makes Scotts Miracle Gro, was granted a three-year, 100 percent abatement on property taxes by the court.
The move could create up to 40 jobs and bring and $9 million in investments to the location on the site of the former Goodyear tire plant on Texas Highway 31 West, Tyler Economic Development Council President Tom Mullins said.
In a presentation to the court, Mullins said most permanent and temporary jobs will be packaging related. He said the positions will add about $400,000 annual payroll to the area.
The company is buying 250,000 square feet of the 1.12 million square foot facility and 63 acres from California-based investment firm Industrial Realty Group. IRG plans to turn the 155-acre tract into a business-industrial park, Mullins said.
More than 1,000 jobs left Tyler when Goodyear closed the plant in 2007. A 2006 study conducted by Impact DataSource, of Austin, showed that with 1,075 hourly and salaried employees, the Tyler Goodyear payroll was $70.3 million. Production was picked up by other U.S. and foreign plants.
Commissioner JoAnn Hampton thanked Mullins for his attempts to bring jobs to Smith County and find potential employers to fill the space at the former tire plant.
Officials were excited about the prospect of more businesses locating at the site. Jobs, tax dollars and the multiplier effect on the local economy will follow, Commissioner Jeff Warr said.
Scotts Regional Director Dale Vacek said East Texas makes a perfect fit to complement plants in north and south Texas. Bark-based materials are needed for Scotts' products and prevalent in the region because of its timber industry, he said.
Hyponex Corp., which makes Scotts Miracle Gro, was granted a three-year, 100 percent abatement on property taxes by the court.
The move could create up to 40 jobs and bring and $9 million in investments to the location on the site of the former Goodyear tire plant on Texas Highway 31 West, Tyler Economic Development Council President Tom Mullins said.
In a presentation to the court, Mullins said most permanent and temporary jobs will be packaging related. He said the positions will add about $400,000 annual payroll to the area.
The company is buying 250,000 square feet of the 1.12 million square foot facility and 63 acres from California-based investment firm Industrial Realty Group. IRG plans to turn the 155-acre tract into a business-industrial park, Mullins said.
More than 1,000 jobs left Tyler when Goodyear closed the plant in 2007. A 2006 study conducted by Impact DataSource, of Austin, showed that with 1,075 hourly and salaried employees, the Tyler Goodyear payroll was $70.3 million. Production was picked up by other U.S. and foreign plants.
Commissioner JoAnn Hampton thanked Mullins for his attempts to bring jobs to Smith County and find potential employers to fill the space at the former tire plant.
Officials were excited about the prospect of more businesses locating at the site. Jobs, tax dollars and the multiplier effect on the local economy will follow, Commissioner Jeff Warr said.
Scotts Regional Director Dale Vacek said East Texas makes a perfect fit to complement plants in north and south Texas. Bark-based materials are needed for Scotts' products and prevalent in the region because of its timber industry, he said.
Vacek said other local businesses, including John Deere and Ingersoll Rand dealers, Suddenlink, and local trucking companies, will benefit from the company's move to the region.
The plant will create products for Texas, Arkansas, Louisiana and Oklahoma.
Most of the products will go to retailers such as Lowe's and Home Depot, Vacek said.
He said there is a growing market for their gardening and landscaping products because retirees are settling in East Texas.
“That's the exciting thing about this move. Baby boomers are moving to this area and what do they want to do with their time?” he said. “They want to garden.”
The plant will create products for Texas, Arkansas, Louisiana and Oklahoma.
Most of the products will go to retailers such as Lowe's and Home Depot, Vacek said.
He said there is a growing market for their gardening and landscaping products because retirees are settling in East Texas.
“That's the exciting thing about this move. Baby boomers are moving to this area and what do they want to do with their time?” he said. “They want to garden.”
