San Antonio is taking it back to the future with tax abatements approved by Bexar County recently.
The county granted a combined $1.6 million in tax breaks over 10 years for the revived DeLorean Motor Co. and the 70-year-old San Antonio-based chain Bill Miller Bar-B-Q. Each will build new headquarters in the Alamo City, the San Antonio Express-News reported.
DeLorean will build a multistory building at Port San Antonio, on the city’s Southwest side, and Bill Miller will build on the West side, at Texas 151 and Old Highway 90.
The car company was granted a 100 percent abatement on property taxes for 10 years, which will save it about $455,000. DeLorean also secured a performance-based incentive deal worth $562,500 from the City of San Antonio, in exchange for creating 450 jobs.
DeLorean is working on an electric-powered version of the iconic car featured in the “Back to the Future” movies. It is currently working out of a temporary office at the port.
Bill Miller Bar-B-Q secured approval for a 75 percent abatement on property taxes for 10 years, worth about $1.1 million. The local chain restaurant bought almost 57 acres from the city for $3.1 million for its headquarters, which will include a commissary, dry goods warehouse, bakery and offices. The restaurant is running out of space at its current downtown headquarters, at 430 South Santa Rosa Avenue.
The barbeque chain said it plans to invest $55 million into the new facility, which will allow the company to maintain its 413 current jobs and create dozens more. The expanded hub could help it double its number of locations to 150, up from 80. The project, which will be built in two phases, represents the largest single investment the company and Miller family have taken on, Jim Guy Egbert, CEO and president, told the outlet.
— Victoria Pruitt