Sherman council expected to vote on tax abatement for Texas Instruments

By  | 

SHERMAN, TEXAS -- Tonight, the Sherman city council is expected to vote on a tax abatement to Texas Instruments.

Sherman's Chief Financial Officer Robby Hefton says the tax break would allow TI's plant here in Sherman to pay taxes at 55 percent of the normal property tax rate for five years, as an economic incentive.

TI is interested in storing up to $300 million dollars in equipment at their Sherman plant, which would increase money coming into city tax rolls.

Hefton says these kinds of tax abatements encourage industries to come to -- and stay in -- Sherman.