Houston midstream co. nabs Texas incentives worth more than $50M

Joshua Mann
Houston midstream co. nabs Texas incentives worth more than $50M

Houston-based Enterprise Products Partners LP (NYSE: EPD) has reached a deal with a Texas school district cutting taxes on a $675 million project it’s considering in Chambers County. Barbers Hill Independent School District agreed to tax a new natural gas liquids fractionation plant at Enterprise’s Mont Belvieu complex as though it were worth only $80 million, instead of the full value, for 10 years, according to an agreement published by the Texas Comptroller. Enterprise also sought incentives from Chambers County and the city of Baytown that would render $16.67 million and $21.32 million in tax benefits, respectively.