Recruitment efforts to bring businesses to the Texarkana area are receiving some additional support.
Today Texarkana College board members approved a resolution in support of TexAmericas Center’s proposal to state lawmakers, asking them to eliminate some taxes on businesses who lease property from the redevelopment authority.
Officials said the taxes put TexAmericas Center at a disadvantage when recruiting companies to the campus, and the more businesses they’re able to recruit, the better it is for the whole community.
“Lots of benefits for everybody down the road as we get more businesses and more jobs, more homes, more expendable dollars in this community for the future,” said TexAmericas Center Executive Director and CEO Scott Norton.
TexAmericas Center plans to establish a Payment In Lieu of Taxes (PILOT) program for existing tenants, which will offset up to 90 percent of the lost revenue, once the resolution is passed.