Medina County Commissioners voted April 7 to allow County Judge Chris Schuchart to negotiate and offer Volta LLC a tax break to locate near Yancey.
Schuchart told the Devine News that he is offering Volta a 50 percent tax break over a five year period. School and state taxes would not be affected, nor would road and bridge funds. Judge Schuchart clarified that it would be a 50% abatement for everything above the current tax revenue which was $9,500 a year.
Volta, based in Houston, is a leading manufacturer of industrial power systems. According to Dun and Bradstreet, the company generates $70.9 million in sales annually.
“They expect to provide 50 jobs in the first year, and eventually up to 140 jobs,” Schuchart said in a short phone interview