Exxon Mobil gathers tax incentives in Texas’ battle with La. for plant site
The school board in a south Texas community competing with two Louisiana sites has approved an estimated $1.2 billion in tax breaks to entice Exxon Mobil Corp. and its Saudi partner to build a $9.3 billion petrochemical plant within its district along the Texas Gulf Coast.
Earlier this year, Exxon Mobil officials said Ascension and St. James parishes are in the running for the petrochemical complex, though company officials have said the Portland, Texas, site is the front-runner and another Texas site is also under consideration.
Louisiana Economic Development Secretary Don Pierson said his agency “continues to do everything within our power to attract the highest-quality investments and best jobs for our state. For projects that remain in confidential negotiations, we respectfully reserve comment until a later date when proprietary prospect information and incentive details have been finally determined and can be made public upon announcement at the appropriate time”…