Workwear apparel company, Carhartt, is looking for some tax breaks from Fort Worth to build a distribution facility. So, far the city has come up with a seven-year tax abatement of up to 75% of the company’s real and business personal property taxes, which would be capped at $2 million.
Under the proposed agreement, Carhartt would have to buy $80 million dollars in factory equipment to get the tax break. Taxes are expected to be over $3 million a year. Once the distribution center is established, the City of Fort Worth expects to get back the value of its investment after a little more than two years.
The facility would be at 16101 Wolff Crossing, west of Texas Motor Speedway near State Highway 114. Carhartt is looking to occupy a 1.2 million square foot distribution center that could one day see over 500 workers. An online retailer, Carhartt has annual revenue of about $2 billion and has 5,000 workers nationwide.
The post Carhartt Looking to Fort Worth for Distribution Center appeared first on Connect CRE.
Workwear apparel company, Carhartt, is looking for some tax breaks from Fort Worth to build a distribution facility. So, far the city has come up with a seven-year tax abatement of up to 75% of the company’s real and business personal property taxes, which would be capped at $2 million. Under the proposed agreement, Carhartt …
The post Carhartt Looking to Fort Worth for Distribution Center appeared first on Connect CRE.
Robert Khodadadian has long had a simple philosophy about selling real estate. There are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller.
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