Coffee Tech Industires

Coffee Tech Industries is set to build it's headquarters and a manufacturing facility in Seguin.

Seguin and Guadalupe County made way for instant jolts to the local economy with deals to help bring a $56 million development project to the area.

Coffee Tech Industries, Inc. is building its new plant and headquarters on Eighth Street just off Interstate 10 in an area called the Rio Nogales Industrial Park. Both government entities entered into incentive agreements for tax abatements with the company to help it bring its headquarters and co-manufacturing facility to town.

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(2) comments

Shepard

And what tax abatements or other financial incentives did we extend for this business? Who is the contractor slated to build this? What road improvements or new roads / easements will be required?

Considering that +98% of the 56 million investment expenditures will not come from the county or city, the tax revenue expected is what the officials are relying on. What exactly is that estimated number?

Also, note that the majority of people employed will most likely not live within the city of Seguin. The ‘average’ of $55,000 over 90 plus personnel is murky as the top management staff will have triple the income of the floor employees.

I guess we’ll have to see how this pans out...

Shepard

Apologies, as the Gazette did indeed publish a well written article on this project in July and I failed to ‘do my research’ properly before commenting.

The abatements start at 85% for two years, 10% for 6 years, ending the final two years at 25 and 35%.

The expected tax revenue over 10 years for Seguin ISD is 5.8 million, county at about 210,000.

Let’s hope these tax giveaways are worth it.

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