Indevco Plastics will add 40 jobs with yearly salaries above $41,000 over the next four years.

Longview Economic Development Corp. President/CEO Wayne Mansfield made the announcement to the Longview City Council moments before it unanimously approved an agreement with the company Thursday to abate its municipal property taxes over the next 10 years.

Mansfield and Mayor Andy Mack hinted that more good economic news might be announced today.

“We will have another announcement (today), I believe,” Mansfield said.

Mack answered, “Yes, we will.”

Mansfield declined to give further information. LEDCO directors will talk in closed session about economic development negotiations when they holds their monthly meeting at 11 a.m. at 410 N. Center St.

Indevco is investing more than $9 million into its plant on Jordan Valley Road through 2021. In exchange, the city has agreed to abate 100 percent of its taxes through 2029.

The abatement means a savings of $263,100 over the 10-year period, but the city will likely realize more than $6.3 million in sales tax returns directly from Indevco during that time, Mansfield said.

In other business, Nancy Murray, chair of the Arts! Longview Task Force, showcased a five-minute video that was submitted to the state arts commission, which is considering Longview and five other communities for a cultural arts district designation.

The designation could open Longview arts groups to state funding, Murray said, noting that 800,000 people work in the state’s creative sector, which brought in about $350 million statewide in sales tax revenues last year.

Murray thanked three city employees — Community Services Assistant Director Dietrich Johnson for serving as arts liaison to the task force, Media and Tourism Manager Shawn Hara for his information technology help and Community Services Director Laura Hill, who was the grant writer and “gave hundreds of hours of her volunteer time to this,” Murray said.

“The citizens of Longview are lucky to have Laura Hill,” she said.

Among consent agenda items, the council approved:

Using $110,000 in hotel occupancy tax funds to buy a 0.2994-acre residential property at 1113 Jaycee Drive that city staff says will enhance the Maude Cobb/Fairgrounds Complex;

Acceptance of the High and Franklin Sewer System Improvements work and final payment of $103,804 to Lopez Utilities Contractors LLC of Houston;

Spending up to $51,270 from the city’s Photo Enforcement Fund to buy mobile radios and associated equipment for Longview Police Department patrol vehicles; and

A contract with Henry and Peters PC of Longview to perform annual audit services for 2019 through 2025, including spending $91,600 to audit the 2018-19 financials for the city.

Jimmy Daniell Isaac covers the city of Longview and Gregg County. Follow him on Twitter: @jimmyisaaclives.