Council accepts annual review finding Hood Packaging and Trane compliant with tax‑abatement agreements

The Tyler City Council on Aug. 27 accepted the annual review of property‑tax abatements for Hood Packaging and Trane, and staff recommended continuing the abatement percentages called for in each company’s agreement.
Economic development staff reported the review covered performance through Dec. 31, 2024. The review found Hood Packaging met its targets by expanding employment by 18 jobs and investing about $20 million in plant and equipment against a performance target of $17 million; staff recommended honoring the abatement at the contractual 80 percent level for 2024.
Staff reported that Trane met its performance obligations for the review period, maintaining employment levels tied to its project, and that staff recommends the full abatement (presented as 100 percent for the third consecutive year) for the company for the review year. Staff said Trane’s reported investment for the new building was roughly $118 million and that company‑wide job totals related to the project were reported by staff as about 2,139 with an addition of more than 1,700 jobs attributed to the broader project.
Councilmembers asked one clarifying question about whether recent layoffs at a named employer affected the reported numbers; staff replied the annual report covers activity only through Dec. 31, 2024. Council then moved and approved acceptance of the annual review report by voice vote.