The city of Fort Worth just offered up $2 million in incentives to lure a major cosmetic producer.
Two weeks ago, Beauty Manufacturing Solutions Corp. announced it was planning to plunk down $150 million for a new facility in the AllianceTexas development in North Fort Worth. For the prospect of this 445,870-square-foot plant, Fort Worth’s city council has agreed to provide a 10-year, 70 percent property tax abatement to the firm. In exchange for the proposed tax breaks, the company would be delivering 250 jobs with an average salary of $65,800 to the area, according to Fort Worth’s economic development department.
The total proposed capital investment that Beauty Manufacturing Solutions would make as part of this project is $70 million, the Dallas Morning News reports. As part of the agreement with the city, the company is committing to a minimum of $30 million in real property improvements by Dec. 31, 2024, as well as a minimum of $40 million in taxable business personal property by Jan. 1, 2026.
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The new plant would help “build upon our city’s historic strengths in advanced manufacturing,” according to Robert Sturns, Fort Worth’s director of economic development.
Total investment at the 27,000-acre AllianceTexas development topped $12.6 billion in 2021, according to Hillwood, the developer selling 5650 Alliance Gateway Freeway to Beauty Manufacturing Solutions.
“Reshoring continues to be an important piece of our regional economic development story, and the beauty industry is quickly becoming a focal point in our growing manufacturing sector here at AllianceTexas,” said Samuel Rhea, director of industrial leasing at Hillwood.
The Fort Worth plant will operate in addition to Beauty Manufacturing Solutions’ headquarters at 1250 Freeport Parkway in Coppell, near DFW International Airport. The century-old company produces a variety of products for brands including L’Oreal, Johnson & Johnson, Mary Kay, Unilever and Tree Hut.
“This site will merge new technologies in manufacturing along with the supporting infrastructure and ambitions from the city and our company,” said Beauty Manufacturing CEO Peter Song.
— Maddy Sperling