AMARILLO, Texas (KAMR/KCIT) — A company out of California is applying for a tax abatement with the City of Amarillo.

The Amarillo Economic Development Corporation said the company is interested in 55 acres near Georgia and Farmers.

The City will have to create a reinvestment zone, that is expected on March 9, after that, the project will have to be approved by the City, Amarillo College, High Plains Underground Water District, and Randall County.

“Well it would be a huge economic impact, they would spend up to $88 million on capitol investment. That’s huge to have the two projects that we’ve had. To be able to announce that hopefully, two of those projects early in the year would be great,” said Kevin Carter, President and CEO, Amarillo Economic Development Corporation.

The City is expected to make their vote on the project on March 23.