The Lubbock City Council on Thursday will consider a $5,380,200 tax abatement over the course of 10 years for Monsanto.
Monsanto previously announced plans for a new cottonseed facility at 11613 North Interstate 27.
“Total investment in the project will be $56,500,000 for real property improvements and $43,500,000 for machinery and equipment,” public records said. “The project will create 40 new jobs with an annual payroll of approximately $2,065,000.”
The abatement required the creation of a reinvestment zone, which the City Council approved in October.
