The Fort Worth City Council will vote Tuesday on an $18 million grant agreement to help an e-commerce hardware distribution company set up shop in far North Fort Worth.
McMaster-Carr is proposing to build its southwest regional headquarters on a 117-acre site at 4894 Litsey Road. The company would need to commit to spending at least $180 million to develop the site and an additional $180 million on business personal property in order to get the grant funding, according to city documents.
The company would also need to create a minimum of 150 full-time jobs within the first year of the operation, and 250 full-time jobs after six years. The jobs would have to have an average annual salary of $85,000.
The city estimates the development would bring in an additional $56,796,775 in property and sales taxes.
Founded in 1901, the Elmhurst, Ill.-based company is a supplier of hardware, tools, raw materials, industrial materials and maintenance equipment.
Harrison Mantas, Fort Worth Star-Telegram (TNS)
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