POSTED: Friday, July 20, 2012 - 12:31pm
UPDATED: Friday, July 20, 2012 - 12:44pm
Longview, TX — Construction of a $181 million refinery in Rusk County could begin this fall.
Gregg County Refining has received notification that the refinery project, which has been under development for more than a year, has been designated for funding under the Hurricane Ike Disaster Area Bond Program.
“We feel like it will have a tremendous economic impact on our county,” said Rusk County Judge Joe Hale. “We’re excited and pleased to learn that the refinery expects to begin construction soon.”
The Angelina & Neches River Authority (ANRA) is the conduit bond issuer for the Gregg County Refinery, which will be built about a mile southeast of New London in West Rusk Consolidated ISD.
Tommy Alexander, superintendent of the school district, said the refinery would have a “breathtaking” economic impact on his district.
“The effect on the school district will be enormous,” Alexander said. “We expect it to increase our tax revenue by about $4.5 million annually once it’s up and running.”
Read more  from the Longview News-Journal.