The initiative comes in the wake of International Paper’s closure, which resulted in approximately 500 job losses for the community.
ORANGE, Texas — The Orange City Council, on Tuesday, voted to create a reinvestment zone at the site of the former International Paper (IP) plant, potentially bringing new jobs and revenue to the city. The reinvestment zone will enable the so-far unidentified company to access state grants and economic development programs.
The city is not yet identifying the company involved because a deal has not yet been finalized, according Mayor Larry Spears, Jr.
Spears described the move as a “big win” for the city. “Today, the council was able to successfully pass to ensure that we’re going to make that area a reinvestment zone,” Spears told 12News after the vote. The reinvestment zone is designed to provide financial incentives to the incoming company, helping to offset potential costs and encourage economic development.
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