Posted on August 3, 2017
The economic development department has worked with Glazer since April of 2016. After 14 months of communication, meetings, compliance and travel, the project’s grant was approved by the ODC on May 11, 2017 in the amount of $1.1 million. City Council approved the ODC incentive and tax
abatement in June 2017.The components of this capital investment include a 100K SF build to suit facility on 20 acres of land. This new facility will retain 100 jobs and create another 10 jobs for our community. The total capital investment is estimated to be around $14 million.
The impact summary concludes that the payback period for the City of Odessa’s investment will be 5.6 years.