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S&W payments linked to jobs
November 12, 2012, 9:00 pm by Adam Troxtell
After approving a measure
last month to give up to $2.5 million to Scott & White for hospital
construction costs, the Economic Development Corporation board has agreed to
give out the money based on jobs created over the next five years.
Scott & White will
receive $5,605 per job created, according to an agreement proposal drawn up by
EDC staff. EDC Board Director Steve Reitz said the Finance Committee, which he
serves on, felt this was the best way to go about reimbursing Scott & White
as incentive for completing the medical facility project and for bringing an
expected job and economic boost to the community. The clinic and hospital are
expected to bring in a combined 500 jobs when both open up near the
intersection of US 281 and TX 71 in 2013 and 2014, respectively.
"Just like any company, we
would give out reimbursements based on performance, or the number of created
jobs,” Reitz said.
For more of this story, see Tuesday's Highlander.
For more of this story, see Tuesday's Highlander.
P.O. Box 1000, Marble Falls, Texas 78654 - Phone: (830) 693-4367