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The City will benefit from the significant increase in property tax revenue resulting from <br />increased property improvements, as well as increased sales tax revenue from local purchases <br />during and after construction. The City will also benefit by helping to ensure 400+, high-paying, <br />full-time positions will be maintained at the plant throughout the EZ program period (5-8 years). <br />Staff recommends approving the attached resolution to nominate Equistar Chemicals, LPas a <br />Texas Enterprise Project. <br />Action Required by Council: <br />Consider approval or other action of a Resolution nominating Equistar Chemicals LP (Equistar), <br />a subsidiary of Lyondell Chemical Company, as a triple jumbo Texas Enterprise Project (EP) for <br />the company’s investment and activity related to its plant in La Porte. <br />Approved for City Council Agenda <br />Corby D. Alexander,City ManagerDate <br /> <br />