Governor To Sign Tax Break For Border Rail Hub
KRWG News – SANTA TERESA, N.M. (KRWG) Gov. Susana Martinez plans to sign legislation offering a tax break as an economic development incentive for a rail yard project in southern New Mexico.
The governor is to sign the measure Tuesday afternoon during a ceremony in Santa Teresa, where Union Pacific Railroad plans to spend more than $400 million for a refueling facility.
The legislation will provide a deduction that lifts a state tax from locomotive fuel starting in July 2013, if Union Pacific builds the project.
Construction is expected to create 3,000 jobs and there will be 600 permanent jobs when the facility is operating.
Union Pacific operates a rail hub in El Paso, Texas and the proposed facility is about 15 miles west in New Mexico near the international border with Mexico.
Copyright 2011 The Associated Press. KRWG