Roosevelt ISD to double taxable assets with new dairy plant
In exchange for more resources and opportunities, Leprino Foods gets a tax break
LUBBOCK, Texas (KCBD) - It took several hands to get the new Leprino Foods factory project approved and moving forward, the city’s largest private capital investment to date.
From Governor Abbott at the state level, to the city and the Roosevelt ISD school board.
Superintendent Dallas Grimes calls it a “huge blessing” for the district of 1,100 students.
Grimes said the District was involved from the beginning stages for the project, to be built east of the loop.
The pandemic stalled the project for a year.
For Grimes, it seemed at the time that it was “too good to be true.”
“When the phone rang and they said ‘hey we want to come down there and resuscitate talks’ that was a good day and you knew that they were really serious about coming to Lubbock. We were willing to help them out as much as we could,” he explained.
That included a tax break for the company. Documents from the state comptroller reveal that the district and Leprino Foods reached an agreement that the plant will not exceed an appraisal value of more than market value or $40 million dollars, whichever is the lesser value.
Grimes says the pros outweigh the cons.
The project is expected to bring in double the taxable assets for the district plus 600 new jobs, meaning more resources and more opportunities for both students and staff.
“Yes, they’re going to get a tax break for 10 years, but we’re still going to have that factory on the tax rolls for the foreseeable future,” Grimes said. “Our students deserve the best. I think we’re going to take a serious look at what we’re able to do for our staff, and bring in the best quality staff for our students.”
Leprino Foods has also taken an interest in the district’s future career and technical education center, training students to be ready for the workforce.
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