Humble company with plans to hire more than 100 nominated for state subsidy
Humble city council members approved a motion that could facilitate more than 100 new jobs within the city’s boundaries over the next three years.
Council members approved a motion to nominate CDI Energy Products to the Governor’s Office of Economic Development and Tourism through the Economic Development Bank as an enterprise project at a public meeting on Nov. 8.
The Texas Enterprise Zone Program is a tax refund program designed to encourage private investment and job creation in economically distressed areas of the state, according to the Texas Economic Development website.
In order to apply, communities must nominate companies in their area to receive an enterprise zone designation so they are eligible to receive state sales and use tax refunds.
Mark Mitchell, president of the Lake Houston Area Economic Development Partnership, said CDI Energy Products currently has about 450 employees and is looking to add from 50 to 120 employees in the next 36 months.
Eric Giesler with Economic Incentive Services was representing CDI Energy Products at the council meeting.
“The program’s mission is really to encourage capital investment and job retention and creation and they do that by offering a state sales tax refund. State (tax revenue) only so it doesn’t cost the city anything,” Geisler said.
Giesler said this is the first company in Humble that has been nomited for this tax refund.
Companies that are interested in participating in the Texas Enterprise Zone Program can contact City Manager Jason Stuebe at (281) 446-3061.
Toward the end of the meeting council members also approved a logo for the elevated storage tank that is currently under construction on Wilson Road.
The logo will face toward Turner Stadium.
“I think with this really awesome logo on the water tank, the way it’s going to look down on Turner Stadium, I’m confident that that’s going to give us more victories during football season,” Mayor Pro Tem Norman Funderburk said jokingly.