New Braunfels Edition | September 2025

BY AMIRA VAN LEEUWEN

The company makes those initial capital investments and employment commitments prior to the expiration of that designation period. The company would pay state sales and use tax on qualied expenditures. “If the company fullls those hiring and investment requirements, they’re eligible for a refund up to $2,500 per employee hired, up to a maximum of $1.25 million ,” Jewell said. Breaking down the incentive If Leo fails to meet the performance metrics, it will repay NBEDC $2,000 annually for each employee. The company would also rebate $2,000 annually to the NBEDC for every year that it is at least $500,000 below the minimum taxable value, according to agenda documents. The company agreed to provide a $450,000 let- ter of credit before receiving the initial payment. The letter of credit will be maintained by Leo for the rst ve years of the project, agenda documents state. “This would make sure that the EDC could draw on it and reclaim any incentives that are

Performance metrics The $950,000 incentive will be delivered to Leo over three years, provided the following requirements are met.

Payment

Timeline

Requirement

$450k issued

Following $4M investment in buildings, real property, improvements, machinery and equipment

December 31, 2026

20 full-time employees with an average pay of $62,000 per employee, maximum taxable value of $6M in business personal property, machinery, equipment and tenant improvements At least 100 full-time employees with average cumulative payroll of $62,000 per employee, minimum taxable value of at least $10M in business personal property, machinery and equipment and tenant improvements

$250k issued

Within 30 days of January 1, 2028, with continued occupancy of the building

$250k issued

Within 30 days of January 1, 2030, with continued occupancy of the facility

SOURCE: CITY OF NEW BRAUNFELSCOMMUNITY IMPACT

basis, according to agenda documents. Looking ahead

paid out,” Jewell said. The company has also agreed to a local hiring requirement—20% of employees must reside within Comal or Guadalupe County unless the employment rate is less than 3.5% on an annual

The company will begin operating at the facil- ity by December 2026, agenda documents state.

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