WICHITA FALLS ( KFDX/KJTL ) — As Panda Gin rolls out more and more products from its raw hemp, they are now assured of tax breaks from the county for the next 10 years.

Wichita County Commissioners unanimously approved a 10-year, 70% tax abatement, which was originally approved in 2020.

However, it was never implemented for Panda because of start-up setbacks, delays, and the COVID-19 pandemic.

Now that the plant is operational and the required hiring and capital investment met, the modified agreement is set to begin for the 2024 tax year.

County officials say Panda has paid its taxes in the years without an abatement.

The major changes from the original agreement are that instead of a required $55 million capital investment, Panda must show $45 million.

Instead of having at least 50 full-time employees in four years, they have five years.

This agreement has no additional incentives added to the original agreement.

Panda officials do not talk like those expectations are unreasonable.

They plan to add a second shift in about 3 months and eventually a third so they can run 24 hours a day.

“It’s been great. You know, it took us a little bit to get this thing built, but we’ve got to build and we’ve got to run it like a sewing machine,” said Scott Evans, Chief Operating Officer of Panda Biotech. “We’re currently running one shift Monday through Friday, cranking through a lot of product there and getting the finished products out to the market.”

Commissioners said as long as additional raw material from growers can be obtained, the future looks bright for both this plant and the county.

Commissioner Barry Mahler added as additional farmers get on board with growing industrial grade hemp for textiles, building materials and other uses, hemp ginning can become a major local industry with numerous spin-off businesses also opening.

Right now, some of the raw hemp is coming from Oklahoma, and more is shipped in from other states.

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