Exxon Considering Gulf County for $8.6B Plant

Spring, Texas-based Exxon Mobil Corp. might build a new $8.6 billion polyethylene plant in Calhoun County. But it’s far from a sure thing. The company is considering other sites worldwide, such as the Middle East and Asia.

The Houston Business Journal reports the company has applied for school tax abatements under the new Texas Jobs, Energy, Technology, and Innovation program. This incentive program allows school districts to limit the taxable value of a property for a portion of school taxes, potentially saving companies millions of dollars on what is typically the largest portion of property tax bills.

If the project were to move forward, it would start construction in 2026 and begin operations in 2031.

The project would require roughly $8.6 billion in capital investment over 40 years, creating about 300 permanent jobs and 300 contract jobs in the area.

Over 40 years, the plant would pay about $1.7 billion in taxes to Calhoun County, Calhoun County ISD, Calhoun Port Authority and the Groundwater Preservation District.