Nacero Inc., a Houston based corporation was granted a 10 year property tax abatement in Tuesdays Commissioners meeting. The company has plans to build a $4.7 Billion dollar gasoline manufacturing plant 15 miles Southwest of Penwell. Nacero is looking to build a facility that would convert natural gas to methanol and then the methanol into gasoline. Upon completion it would have the capacity of producing 90,000 barrels per day. The project is planning to start construction in November and begin commercial operations in the final quarter of 2024. It will create more than 250 new jobs, each paying at least $81,000 per year.
