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The Dallas County Commission unanimously approved tax abatements for local auto parts manufacturer Seoyon E-Hwa brought to them by Selma – Dallas County Economic Development Authority (EDA) Director Wayne Vardaman.
The proposed tax abatements came from Vardaman in the form of a one-time sales tax abatement of $156,537.50 and a 10 year property tax abatement totaling $200,460.
Located at Craig Field, Seoyon E-Hwa produces parts for Hyundai Motors.
The proposed tax abatements, which the Commission unanimously approved, are for the company’s expansion which will add two new lines to supply Hyundai Motors with interior parts for their Elantra and Tuscon.
According to Vardaman, they company’s expansion, a capital investment of $5,140,000, will create 60 new jobs.
Vardaman said the expansion is estimated to begin April 1, and completed on Sept. 30, 2020.
Vardaman said that Seoyon E-Hwa currently employs 436 people, and the expansion will put their roster at roughly 500 employees.
“When they get to that, I think that moves them up to about third [largest employer] in Dallas County,” said Vardaman.
“Wayne [Vardaman] doesn’t come to visit us often, but when he does I’m glad to see him because he’s talking about new jobs or bringing in new industry or new business,” said Dallas County Commissioner Roy Moore. “It’s important that we not only work with the EDA but that we work with these industries. They are already here. We want to work with them and satisfy them to the point where they won’t ever leave. Y’all know I’ve always been high on economic development and I still am. It’s the tax base of our county and that’s our problem now, we don’t have enough tax base.”
Dallas County Probate Judge and Commission Chairman Jimmy Nunn thanked the Seoyon E-Hwa representatives present at Monday’s meeting.
“We want to thank you for being in Dallas County,” he said. “Thank you for close to 500 employees. You’re affecting not just them, but their families. You’re affecting their kids.”