02-25-19 Regular Meeting of the La Porte City Council

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MII of this application). There are no employees currently located at the La Porte site. The project's total capital investment in the new facility will be in excess of $6,000,000, including approximately $3,400,000 in November and December of 2018, and $2,600,000 in 2019. The investment in the La Porte distribution center is expected to include racking, fire suppression sprinkler equipment, a chemical room storage building, dock levelers and equipment, RF equipment, wrappers, scales, and other various warehouse and office equipment and building finish -out. The Company will maintain separate payroll and tax records relating to the business activity conducted at the qualified business site. The Company does not have any transportation needs not currently met through existing infrastructure. Valvoline LLC will be the payroll entity that will hire and pay employees. The building lease will be in the name of Valvoline LLC. Additionally, Valvoline LLC will be registered for sales tax and may pay sales and use taxes on purchases made for the qualified site. The project will create 50 new full-time jobs in total, with ten of the jobs being listed as "for benefit" in the Texas Enterprise Zone application. The ten new full-time jobs being listed as "for benefit" will create a total annual payroll of $703,000. The new jobs will comprise of an operations manager, two production supervisors, an ICC senior, three team leads, and three material handlers. A designation as an Enterprise Project and potential tax savings are very important to Valvoline and the City of La Porte. Valvoline is committed to the State of Texas and the City of La Porte, and the incentive provided through the Enterprise Project designation will assist in offsetting the additional overhead and real estate costs associated with this La Porte location. We appreciate your consideration of Valvoline LLC as an Enterprise Project. Please let me know if you have any questions or need additional information. Sincerely, a Elizabeth Russell Tax Counsel Valvoline Inc.