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Active Economic Incentive Agreements

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TransparencyStar_ED

 The Economic Development Transparency page is provided in an effort to increase transparency in the area of economic development and inform taxpayers about programs and incentives supported by their tax dollars that are designed to attract industry and investment, create jobs and otherwise grow the economy. The City of Carrollton strives to be an open government in all areas and is working to further develop information published for public viewing in the areas of finance, contract and procurement, economic development, public pensions, and debt obligations. For more information on the City's designated Transparency pages, please visit our Transparency page.  

For more information on the Texas Comptroller's efforts to encourage transparency among local governments, please visit their webpage at TexasTransparency.org

 

Economic Development Summary

The City of Carrollton is dedicated to achieving the highest quality of development, infrastructure, and quality of life for its citizens. These objectives are met, in part, by the enhancement and expansion of the City’s economy. Additionally, the competitive nature of other municipalities on the local, state and international levels can necessitate additional inducements to attract investment and business to the community. The City’s “pro-business” philosophy is designed not only to attract high quality companies but to retain them as well. Furthermore, the City works to negotiate “win/win” incentive agreements, fully understanding the need for a fair and reasonable return on investment for our taxpayers on any agreement.

It is the City’s policy to encourage new investment and business attraction through the utilization of tax grants, performance-based job creation grants, and/or other redevelopment grants, as authorized by Chapter 380.001 of the Texas Local Government Code. The City has chosen Chapter 380 as the preferred path for the provision of incentives and does not currently offer tax abatement, as authorized by Chapter 312 of the Texas Tax Code, which may provide a reduction of taxes owed on new added value for a defined period of time.

Tax Grants Provided

In an effort to foster continued new investment and reinvestment in the City’s physical environment and provide a foundation on which businesses may locate and expand their operations, the City may provide a tax grant equal to a portion of the taxes owed on new real and/or business personal property values over a base year value. The actual amount and duration of the tax grant may vary based on a determination by City Council, but projects may be eligible for a grant equal to 100% of real or personal property, for a period of up to ten years.

 Assessed Value Subject to Grants

Of the Active Tax Grants, the 2021 Assessed Value Subject to Tax Grant is $579,772,101.

 

 Assessed Value vs Grants per Capita

Figures above are based on annual population estimates as reported by the North Central Texas Council of Governments.  Carrollton's 2021 estimated population is 137,650.

 

 Grants Provided vs Taxes Paid

A total of $2,952,471 in tax grants were provided to recipients in 2021.

Details pertaining to the City's active grants are provided below. Please click on the Resolution Number to view the action authorizing the incentive and the Company name to view the agreement.

Business Personal Property Grant: City provides grants equal to 75% of the Added Taxable Value each year for 13 years. 
Company Resolution Capital Investment & Project Details Term (Years) Tax Grant Amount Fiscal Year (Begin) Fiscal Year (End) Total Grant (To Date) Added Value
Lowen Raiford Hospitality

Resolution
Full-service hotel
10
85% HOT rebate
2017
2026
$53,557.07
$10,506,640
Prologis
  4-building development on 54 acre site
5
100% real property grant
2017
 2021 $88,324.59
$14,728,130
DC International
Resolution 75,000 sf manufacturing, sales and distribution facility
7
50% real and personal property tax grant
2016
 2022 $20,128.70
$838,299

AmeriSourceBergen

Resolution   13 75% added taxable value 2019 2032 $114,085.60 $13,959,700

MFirm1LLC (Mattress Firm)

Resolution

$25M, 300,000 sf Corp. Hdqrts & Whse. Facility


9 90% real property tax grant 2014 2022 $216,878.18 $10,600,124
Cyrus Networks (CyrusOne) Resolution  
659,000 sf Shell Conversion for Data Center

10

90% real & personal property tax grant

2012 2021 $4,392,774.18 $269,857,967

Download Table Above-Tax Grants Table (Excel).

Job Creation Grants Provided

The attraction of quality employers to the City which positively contribute to the Carrollton economy, is a priority of the City. In order to recruit and retain such desirable employers and make Carrollton a place where companies wish to locate and invest, the City may provide job creation grants based on the number and type of new full-time equivalent positions.

A performance-based job creation grant may be authorized in order to attract and/or retain companies. Those companies hiring and/or relocating employees to Carrollton, which are paid an average annual full-time equivalent salary above the City’s mean annual wage, may be eligible for a Job Creation Grant.

Company Resolution  Term (Years)   Incentive Amount Fiscal Year (Begin)   Fiscal Year (End)  Incentive Amount
AmerisoureBergen Resolution  4 Grant of $1,000 per qualifying job for period 1-3. $350 per qualifying job for period 4-6. 2018  2028  $1,923,200

 

Download Table Above-Job Creation Grants Table (Excel).

 Other Chapter 380 Agreements

While the Tax Grant Program is the City’s primary incentive, certain circumstances may necessitate the use of alternative types of financial assistance in order to encourage new investment or re-investment. These alternative programs are reserved for significant investment projects which are deemed to be catalytic and transformative. Details pertaining to these active grants are provided below. Please click on the Resolution Number to view the action authorizing the incentive and the Company name to view the agreement.

Company Resolution Capital Investment & Project Details Term (Years) Grant Amount Fiscal Year (Begin) Fiscal Year (End)

Total Grant 

 (To Date)

Added Value
ST Micro (aka Prologis, L.P.) 3731 Demolition of former ST Micro facility and construction of new industrial product 10 10-Year, 100% real property tax rebate, demo grant equal to 50% of remediation & demo costs (max. $750,000) , & 100% reimbursement of bldg. permit fees (max. $300,000) 2015 2032 $750,000 (plus partial bldg. permit fees) TBD

 

Download Table Above-Other Chapter 380 Grants Table (Excel).

Questions? Please Contact Us.

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