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re: Good news for Lake Charles area - Commonwealth LNG moving forward in Cameron Parish
Posted on 8/16/23 at 11:16 am to rowbear1922
Posted on 8/16/23 at 11:16 am to rowbear1922
quote:
You are missing the entire point.
Without ITEP, all the sales taxes, added spending in the parish, rentals, etc for a project at large projects goes away in the short term and long term they still get $0 in property tax off these large investments.
I completely get this. I am stubborn. The property tax on these billion dollar projects dwarfs any other tax you are collecting. Louisiana also doesnt put a threshold on job creation or capital investment.
Also, do the companies have to buy materials from within the parish? If not what stops them from buying in Texas at a bulk discount with suppliers they are already partnered up with?
Posted on 8/16/23 at 11:22 am to jizzle6609
quote:these parishes cant come close to supplying the materials needed
Also, do the companies have to buy materials from within the parish?
yea ole cameron parish is just chock a block full of tank builders, metal supply houses, pipe fabricators etc that can handle a 4 billion dollar project
the materials will come from all over the world. only way projects this size can work
but plenty of locals will be hired and plenty out of texas to work there
and yea the property tax on billion dollar projects really do dwarf the others, especially in a parish like Cameron, its why they like these projects and are able to forgo the instant gratification for long term stability these projects will provide the parish. same with Calc.
Posted on 8/16/23 at 11:24 am to jizzle6609
and maybe im misunderstanding you, you seem to understand a good bit of the benefits of the ITEP but you keep brining up all these downsides that simply do not exist.
quite frankly, its really simple...get a lot in 10 years or get nothing...it really is that simple.
quite frankly, its really simple...get a lot in 10 years or get nothing...it really is that simple.
Posted on 8/16/23 at 11:25 am to jizzle6609
quote:
I completely get this. I am stubborn. The property tax on these billion dollar projects dwarfs any other tax you are collecting. Louisiana also doesnt put a threshold on job creation or capital investment. Also, do the companies have to buy materials from within the parish? If not what stops them from buying in Texas at a bulk discount with suppliers they are already partnered up with?
Apparently you don’t after the rest of your statement.
Without ITEP, they don’t get the billion dollar projects which means they don’t get property tax from the projects. Delaying a property tax to entice a project that triples the size of the parish means collecting a lot more tax than they would without the project.
I’m literally planning one of these projects now. If you can find me a single local shop in Cameron parish that can supply the volume needed for the project, please, point me in the right direction.
You don’t like double the size of the existing parish coming in to work for multiple years, spending money, temp living, etc then down the road getting the property taxes from these billion dollar projects or want to keep the status quo and collect no new property tax, no short term workers spending any money and nothing moving forward?
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