Another big expansion of the Port of Corpus Christi translates into a lot more tax revenue for the City of Port Aransas.
A company called Martin Midstream Partners is building a new liquified petroleum gas plant on Harbor Island.
The last available property belonging to the Port of Corpus Christi on Harbor Island has been sold for a plant that processes liquids from the Eagle Ford Shale. The 245 acres of property were purchased by Martin Midstream last week.
Port Commissioner and Port Aransas resident Charlie Zahn said the new LPG plant means a lot to the area, and especially to Port Aransas since the property is within their city limits.
"This industry that you and I are talking about at Harbor Island is going to make a half a billion dollar investment just over there, so from that standpoint, the increased tax base is going to help each one of us that pay ad valorem taxes in the Coastal Bend," Zahn said. "And of course, the big thing about them coming in here is that they're going to employ a lot of people with really, really well paying jobs."
Martin plans on constructing a berm around the new facility to eliminate lighting, odor and noise from the plant from affecting city residents along the ship channel. Once the plans are approved by regulators, the company is estimating it will spend some $550 million for a facility that could be completed in the next three years.
It's good news for the City of Port Aransas, which can start collecting more than $100,000 in taxes on that property next year.
"Clearly something of that magnitude is hard for us to fathom. That's about a third of our current tax base," Port Aransas Mayor Ray McMullin said. "That would allow the City to theoretically lower taxes to our existing residential and commercial taxpayers, which would be news that would be very well received, I assure you."
McMullin said that, with the double-digit increase in tourists over the last several years, a new influx of tax dollars would lower taxes for residents and businesses, help alleviate traffic congestion with new roads, and bolster the city schools budget.
While the construction of the new LPG plant would bring hundreds of construction jobs, the completed facility would provide at least 50 permanent positions.
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