The City of Lockhart recently approved incentives for local expansion by Iron Ox. The incentives package includes a grant for utility construction at the company’s planned 10.000 square meter facility on 85 acres on Commerce Street. The project will bring jobs, revenues, and other benefits to the City.
“Iron Ox has already made a great impact in the City of Lockhart at their facility on Reed Drive,” said Lockhart Mayor Lew White. “Our City Council was pleased to offer these latest incentives so the company can move forward with its new facility on Commerce Street, which will create more job opportunities and enhance our community’s business development.”
By voting on November 16 to commit $200,000 toward the construction of water and wastewater utilities, the Lockhart City Council provided incentives for Iron Ox to expand its footprint in the city. Those incentives also include the five-year City property tax rebate incentive to Iron Ox, once its expansion facility on South Commerce Street is finished and a certificate of occupancy has been granted. Texas consumers will begin finding Iron Ox produce in their local grocery stores in early 2022.
“Companies like Iron Ox are making a difference in small-town local economies in Texas. That’s why I’m so proud to have them as a GO TEXAN partner,” exclaimed Texas Agriculture Commissioner, Sid Miller. “Iron Ox has chosen to grow with Lockhart. As a result, our Texas agricultural economy will benefit from their expansion. To many, Bar-B-Q helped put Lockhart on the national stage. Now, thanks to Iron Ox, Lockhart can be known as a center for agricultural innovation, and a trend setter in the future of agriculture in both Texas and the nation.”
To receive the rebate, Iron Ox must close on the land, construct the utilities and pay for them, and begin construction for the new facility, with an expected capital investment of $120 million. The Lockhart City Council felt that construction of the utilities will provide benefits beyond the facility, as that area within the community continues to experience growth requiring public services.