MCLENNAN COUNTY, Texas (KXXV) — Companies moving to or expanding in our community will have to pay employees $25 an hour, if they want to receive incentives. It's part of an overall effort to build a skilled workforce in Central Texas.
- The minimum wage rate was raised from $15 to $25.
- The increase applies to industrial and manufacturing companies wanting incentives.
- There are several ways the county can incentivize a company including tax abatement, business grants and cash incentives to build more infrastructure.
- The incentives are from the Waco-McLennan County Economic Development Corp.
BROADCAST TRANSCRIPT:
“It’s just an update to bring in what we require to what’s actually happening,” McLennan County Judge Scott Felton said.
The county and city of Waco updated minimum wage rates from $15 an hour to now $25 an hour— after County Judge Scott Felton says it's already surpassed that on its own. The increase applies to industrial and manufacturing companies wanting incentives.
“We want a company that has a need for a skilled workforce because we can provide it,” Felton said.
The goal is to keep our skilled workforce right here in McLennan County.
“Skilled workforce generally requires a higher salary. Those people making higher salaries have more financial opportunity to buy homes and live here which increases economic impact back into the community.”
Judge Felton tells 25 News our community has made an effort to invest in a skilled workforce through its partnerships with TSTC, MCC, Baylor, and even the local independent school districts.
Right now, he says the county is at full employment— meaning, essentially everyone who can work, is working.
“If we don’t keep those salary ranges high, it will be hard to attract people to come in to apply for these jobs,” he said.
Businesses who don’t want to meet the new minimum rate are still able to come to Waco, but will not qualify for incentives.
There are several ways the county can incentivize a company including tax abatement, business grants and cash incentives to build more infrastructure.
Judge Felton says Texas is the place to be for companies looking to move or grow.
"There's a big movement across the United States right now for companies to move into states with lower taxes, less regulation," Felton said. "The net take home for their employees is higher."
