"Ferdinand updates recent county industrial projects" by: Mike Reddell

   Of the three most recent industrial proposals before Matagorda County Commissioners Court, one received a county tax abatement, the other an approved tax reinvestment zone, while the third has made application.
   Readers have asked the Bay City Sentinel about the progress on these projects – and others.
   So the newspaper asked Mike Ferdinand, executive director of the Matagorda County Economic Development Corporation, for an overview on those projects.
   Lodestar Energy got a five-year tax abatement for a $35 million, 227-acre rail transfer station near the El Maton-Buckeye area from Matagorda County Commissioners Court Monday, Dec. 23.  The Court first created a reinvestment zone so that incentives could take place.
   The court vote was 3-1 for the tax abatement that would be 85% for the first two years, and 75%, 50% and 25%.
   Lodestar is still active, Ferdinand said.
   Since the Lodestar rail terminal project depends on petroleum products to move, Ferdinand said the oil price plunge and the COVID pandemic have affected the pace of progress.
   ‘There are still milestones we’re working through now,” he said.

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