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REQUEST FOR CITY COUNCIL AGENDA ITEM genda Date Requested: 7/12/10 Requested By: Stacey Osborne Department: Administration Appropriation Source of Funds: Account Number: Report: Resolution: Ordinance: Amount Budgeted: Amount Requested: Budgeted Item: YES NO Exhibits: Texas Enterprise Zone Presentation Exhibits: Exhibits: SUMMARY & RECOMMENDATION The Texas Enterprise Zone Program is an economic development tool for local communities to partner with the State of Texas to promote job creation/retention and capital investment in economically distressed areas of the state. Companies that wish to apply for Texas Enterprise Zone Program designation must have the nomination of a local community in order to participate. E. I. du Pont de Nemours and Company ("DuPont") is planning to invest approximately $70 million in the next five years, and they have committed to retaining a total of 490 jobs at the La Porte facility. DuPont is requesting a nomination for Texas Enterprise Zone Project designation from the City of La Porte, which would allow them to apply for Texas Enterprise Zone Project designation from the State of Texas, Office of the Governor. We recently nominated Invista as a Texas Enterprise Zone -.oject, and we discussed the program in depth at that time. I am happy to explain the program once more and answer any Jditional questions you might have tonight. Scott Grisham from Deloitte Tax LLP, who is representing DuPont, is also here, as well as a representative from DuPont if you have any questions about the DuPont nomination. If Council is amenable, we would like to schedule a public hearing and a resolution before Council at the July 26,2010 Council Meeting to nominate DuPont for this designation. Following is some information about DuPont's La Porte site: The site opened in 1956 to manufacture chemicals for the Grasselli Chemicals Department. Through the 1960s and 1970s, the plant produced Hyvar@ X bromacil weed killer and opened new facilities for formaldehyde production and other biochemicals. One of La Porte's main products is herbicides: production ofGlean@ herbicide began in 1983 and Velpar@ in 1988. La Porte is also the site of the world's largest polyvinyl alcohol plant, which is used in weaving polyester blends. In the 1990s, La Porte developed new environmental programs as part of DuPont's goal of zero waste and zero emissions. La Porte's revolutionary Terathane@production system cut air emissions by 200,000 pounds, brought solid waste down 25 million pounds, and reduced liquid waste by 500 million pounds. The new process saved DuPont over $5 million a year, proving that environmental protection could be good for business. The La Porte Terathane@ team has earned Excellence Awards from DuPont and accolades from the state of Texas. ~ Date