August 2, 2019
The Carthage (TX) City Commission approved an agreement with Sharps Environmental for a tax abatement agreement to pave the way for a 17,500-square-foot addition to Sharps’ Carthage, TX facility. The company, which provides medical waste disposable management services, plans to spend $3.5 million on the facility in the East Texas town, and will pay 60% of taxes over a five-year period.
As part of the tax abatement process, commissioners approved a tax reinvestment zone to be created for the project.
Sharps had requested a 100% tax abatement for five years, followed by a 20% annual tax reduction for the following five years. However, Carthage’s tax abatement policy limits agreements to 60% for five years, with a provision that agreements can be extended under certain circumstances.
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