By CLINT FOSTER
PALO PINTO – If all goes according to plan, Mineral Wells could soon be the home of Texas Ultra Precision Ammunition’s new ammunition production facility.
County leaders officially approved the necessary resolutions to adopt a tax abatement policy with a unanimous vote in an attempt to help lure the new bullet factory to Fort Wolters Industrial Park during a special meeting of the Palo Pinto County Commissioners Court, Monday morning.
The factory could potentially create hundreds of jobs, bring bushels of money into the city and county and increase Mineral Wells’ profile as a whole.
The proverbial ball is now in TUPA’s court and the citizens and officials of Mineral Wells and Palo Pinto County alike have only to await the upstart company’s decision of a home for the new factory in the coming months.
“We’ve done everything that we can possibly do to entice them to come to Palo Pinto County,” County Judge David Nicklas said. “They are very excited about coming – it seemed to me in a meeting we had with them – because the county and local governments have been really proactive in trying to get them everything they needed to come to the county.”
Mineral Wells City Council already unanimously approved the tax abatement on Nov. 5, which offers TUPA a whopping 75 percent of the company’s valuation for the next 10 years.
The abatement will have to be renewed every two years and is predicated on an agreement that TUPA meet certain requirements, such as reaching specified employment levels.
It’s an offer in the $7.25 million-range that local officials hope will be the large carrot at the end of a pole to make Mineral Wells as attractive a destination for the company as possible.
TUPA’s factory will focus primarily on manufacturing specialized bullets for military and law enforcement use. It’s a unique industry “that could be considered rather hot right now,” according to Steve Butcher of the Area Growth Council.