Fort Worth Sales Jobs Attract Incentives

City officials are doing their part to keep Fort Worth sales jobs and many other positions in town.

Most recently, city officials offered RadioShack an incentive package for almost $10.8 million to keep the company in Fort Worth during the next six years. The package was put together by Jay Chapa, director of the Housing and Economic Development Department, and must be approved by the City Council and the TIF 6 board.

According to an article by the Fort Worth Business Press, officials wanted to extend an enticing offer to RadioShack after the company announced it was considering moving its headquarters to another city, possibly Tampa, Fla.; Raleigh, N.C.; Albuquerque, N.M.; Nashville, Tenn., and Irving.

The incentive package offered by Fort Worth would amend RadioShack's original economic development agreement. Amendments would include such things as reducing the required number of employees at the company's headquarters from 1,000 to 400.

The package also includes a point-of-sale agreement that would allow the city to take a 1 percent sales tax from RadioShack, giving .5 percent to the Crime Control and Prevention District and .5 percent to the Fort Worth Transportation Authority.

That sales tax would be split 50-50 between the city and RadioShack once the company collects the $10.76 million in incentives. RadioShack makes $15 million in new sales each year in Fort Worth.

In addition, the package would require officials to nominate RadioShack for the Texas Enterprise Zone Program, which provides state refunds for capital investments on job creation.

Aside from the pending RadioShack deal, the City Council also recently approved a 10-year tax abatement plan for Allen's Inc. in exchange for the company investing $4.7 million in property improvements at a recently-purchased building. That company plans to create 140 new jobs.