(Photo by Brady Bauman)
Updated:
Cowley County commissioners approved an adjusted 9-year property tax break for Tulsa-based Zeeco Incorporated, which recently began operations in Strother Field.
The company, in partnership with Winfield Industrial Properties LLC, sought an Economic Development Exemption from the county that voided 100 percent of its annual property tax bill for nine years.
Commissioners approved the EDE 3-0, but at 100 percent for the first year only. From there, the exemption would decrease 10 percent each subsequent year. By year nine, the exemption would be reduced to 20 percent.
Cowley County Administrator Lucas Goff told KSOK-NewsCow Thursday commissioners have expressed interest in taking a closer look at tax abatements.
“Based on the last few meetings’ discussions, I believe the board plans on reviewing the plans and policies over the next few months on how they would like to see IRBs and EDXs processed,” Goff said via email.
From Dec. 16:
Cowley County commissioners will meet Tuesday night in Winfield to consider approval for a 9-year property tax break for Tulsa-based Zeeco Incorporated, which recently began operations in Strother Field.
The property, located on 22695 D St. in Strother Field, had been vacant for approximately 12 years, according to the county. Operations there began June 2018 after multiple years of renovation.
If approved, Zeeco will owe no property tax for the years 2020-2028.
According to the company’s website, Zeeco designs, engineers and manufactures combustion equipment and advanced environmental systems.
The county expects at least 95 new and indirect jobs over 10 years. Approximately 44 people work there now.
An approval would save Zeeco roughly $2.4 million in property taxes with $1.5 million of that at a cost to Cowley County, its school districts and Cowley College.
However, the county projects the public benefits to exceed $8 million, with $3.5 million of that expected to come back to the county.
According to Cowley County Economic Development Director Kerri Falletti, the request made by Zeeco meets cost-benefit incentives for the county, per County Resolution 90-1, to approve.
The meeting will be at 6 p.m. inside the 1st Floor Assembly Room at the Cowley County Courthouse.
