Ft. Worth Okays $18M Incentive Grant to Attract E-Commerce Firm
McMaster-Carr Supply Co. plans to invest $180 million in a new regional headquarters and distribution center. Fort Worth, in return, will provide incentives as high as $18 million if the company builds its factory out in a timely manner. The Dallas Business Journal reports the new regional headquarters will create almost $57 million in new incremental property and sales tax revenue, part of which will go to the $18 million in grants. If McMaster-Carr doesn’t complete the project on time, the firm will forfeit grants from the city.
McMaster-Carr Supply Co is an e-commerce distribution company that supplies specialized equipment, hardware, tools and other products. The expansion would create 250 jobs with an average annual salary of $85,000.
The firm has an existing footprint in cities like Atlanta, Chicago, Cleveland, Los Angeles and New Jersey. The Fort Worth facility marks the company’s sixth regional headquarters.
Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.