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Fri June 15, 2012
Tax exemption would make Hunt County more competitive, official says
GREENVILLE - Local government leaders may be considering whether to grant freeport tax exemptions to Hunt County industries to help attract more business.
Greenville Board of Development Director Greg Sims contends area cities like Rockwall, McKinney and Terrell have an advantage having already passed such exemptions.
In an address to council this week, Sims asked the city to join with the Greenville ISD and Hunt County in a partnership freeport plan.
Under the exemption, goods which are shipped either inside or outside the state within 175 days are exempt from taxation, but only if the goods are kept in a location which is not under the control or owned by the manufacturer of the goods.
Sims says some corporations which he’s contacted have expressed concern because the city lacks the exemption.