A regular board meeting of the Ector County Independent School District trustees on Tuesday evening was full of lawyers and contractors seeking agreements with the board under the state’s 313 tax code, which allows districts to agree to appraised value limitations on qualified projects.
More than an hour of presentations ended with board members clapping and declaring their excitement about the possibility that new projects could help the bottom line of ECISD and bring billions into the local economy.
The board learned the agreements are win-wins for both school districts and industry – allowing qualified businesses to save tax costs during the first years of the agreements but also a win for districts to grow and diversify the tax base.
A number of projects wowed the board with values in the hundreds of millions – but some indicated values in the billions for projects that mostly indicated they would be developed in the Penwell area.
In all unanimous votes, the board agreed to accept a series of six applications for appraised value limitations on qualified property under the Texas Economic Development Act, Texas Tax Code, Chapter 313 from PointFive P1, LLC for Direct Air Capture Builds One through Six.
Representatives from the group detailed that the project could be upward of $24 billion if all six builds are done in Texas. The group seeks the 313 in advance of making a decision on where they will build. The board was told that each of the six builds could mean 100 or more permanent jobs and thousands of construction jobs during the building phase. Construction would start in 2029 and officials said they pull carbon dioxide out of the air to sequester and to do other things with, like for use in downhole or sell to an industrial offtaker.
The permanent jobs could move some employees out of more traditional Permian Basin jobs and make good use of the skilled labor force here, officials detailed.
Board members were told if all six are located in Ector County there is a possibility it could more than double the current tax base.
The board also unanimously accepted another 313 for DG Penwell North, LLC, which is a $180 million solar project that will support Nacero.
Another 313 was also unanimously accepted for Ophelia Solar. The facility is a general solar that would sell power and is a $150 million project. Construction would be 12 to 18 months with 200 jobs and once in operation would have two to three jobs.
GCC Permian, LLC’s 313 was also unanimously approved. The group is a cement facility.
The board also accepted a presentation of United Way of Odessa Awards to ECISD for raising more than $77,000 this year. A number of students were also recognized for a variety of achievements from all-state football to the Broncho Spirit and Mojo Spirit scholarship awards.
