ExxonMobil plans to move more than fourteen hundred jobs into a pair of twelve-story office buildings, now under construction in the Hughes Landing development in The Woodlands. Over the next decade, the company will receive a 100% tax abatement on one building and a 50% abatement on the other.
J.R. Moore is Tax Assessor/Collector for Montgomery County.
“Basically, that property there is undeveloped and it’s bringing us, between the two tracts of land, our total tax revenue right now is $6,037. When they finish the ten-year abatement, our revenues will be $567,000 a year, so it’s a win-win for everybody.”
Unlike those workers moving to the company’s future campus, who are moving to The Woodlands from out of state, those moving to Hughes Landing are expected to relocate from elsewhere in the Houston area.
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