IEEFA comments to Texas Comptroller regarding submission from Exxon Mobil

The Jobs, Energy, Technology and Innovation Act Application Form AP-243 submitted by Exxon Mobil Corporation and posted December 23, 2024 by the Texas Comptroller of Public Accounts on its website as J0014 for property tax abatement with Calhoun County ISD appears to have a discrepancy between tab 2 (description of the project) and tab 8 (the Economic Benefit Statement), and the form as posted does not provide for public review information that would be important to assess whether the project should be granted property tax abatement from the State of Texas.

A potential $189 million discrepancy in projected tax revenues during the construction phase was observed in the application by ExxonMobil Corp. for tax abatement with Calhoun County ISD in Texas. The discrepancy in the application relates to differing projections for construction employment within the information provided to the Texas comptroller. 

Key highlights from reconciling projections to the lower employment figure include:

• Average annual direct employment would equal 2,380, rather than the application’s figure of 10,462.
• Indirect and induced employment would equal 2,996, rather than the application’s figure of 13,170.
• Total payroll would equal $1.5 billion, rather than the application figure of $6.8 billion.
• Sales tax collections associated with total employment during the construction phase would equal $25 million, rather than the application’s figure of $110 million.
• Other taxes and revenues during the construction phase would equal $31 million, rather than the application’s figure of $135 million.

IEEFA recommends the Texas comptroller obtain sufficient information from ExxonMobil to evaluate the project in the context of long-term economic development of Calhoun County and then share that information with the public prior to making any decision.