Property tax abatement entices Bell Helicopter
Thu, 10 Jan 2013 04:44:40 GMT —
City commissioners approved a 10-year property tax abatement for a new military assembly center for Bell Helicopter.
The almost 250,000 square foot building will house the initial production phases of the 525 Relentless. The 28 million dollar project is set to be up and running by April 2013.
The property tax abatement will forgo taxes for the first 10 years of the project, thanks to the Amarillo City Commission, and incentives from the Amarillo Economic Development Corporation.
The project will employ local contractors and subcontractors. Commissioners are hopeful that the new facility will increase job growth, bring in revenue, and boost retail in the are.
The 525 will be the first commercial helicopter built in Amarillo.