Commissioners OK Tax Abatement for Boyd Metals

SMITH COUNTY — The Smith County Commissioners Court on Tuesday voted to approve a reinvestment zone and a four-year tax abatement as an incentive for Arkansas-based Boyd Metals Inc. to open a full-line steel service center in Smith County. According to a press release from the Commissioners Court, Tyler Economic Development Council President/CEO Tom Mullins said they were contacted in 2014 by Boyd Metals about opening an assembly and distribution center in Smith County. Recently, the former Amega West facility on Sand Flat Road became available, and Boyd Metals closed on purchasing the 38,540-square-foot building on Monday, June 13. The company plans to operate a distribution center for all types of steel and expanded metal products.

The company projects starting with eight employees at the Tyler location, and expects to create up to 40 new jobs within five years. The average base salary is estimated at $52,000, including benefits, Mullins said.

On Tuesday, the Commissioners Court voted to approve a four-year, 100 percent tax abatement for the $1.6 million project with the creation of at least 30 new jobs. The Commissioners Court also voted to adopt an order creating the Boyd Metals Reinvestment Zone, which totals more than 22 acres of taxable real property. The Tyler Economic Development Council estimates that Smith County could forego up to $21,120 in taxes over a four-year period, at the current tax rate.

Boyd Metals has targeted operations to begin in Smith County in September and plans to expand its operations here in 2017.