Tax abatement agreement between Fort Worth, Carhartt paves way for 500 jobs
Published: Wed, 04/26/23
Tax abatement agreement between Fort Worth, Carhartt paves way for 500 jobs
Carhartt, a Dearborn, Michigan-based business, will lease a warehouse space in northeast Fort Worth.
(Courtesy Carhartt)
Community Impact
By Cody Thorn
Updated
The city of Fort Worth and Carhartt entered into a seven-year tax abatement agreement to create a distribution center in northeast Fort Worth.
The company will lease a 1.2 million-square-foot location from DHL at 16101 Wolff Crossing, west of Texas Motor Speedway, and it will be operational by December 2024, according to the city. An estimated 500 full-time jobs will be filled locally, according to Cherie Gordon, who works in the city of Fort Worth’s business development
department.
“At Carhartt, we pride ourselves on delivering a best-in-class experience for our customers and consumers,” said Susan Telang, chief financial officer at Carhartt, in a press release. “By expanding our distribution network to Fort Worth, hardworking people in the western part of the U.S. will receive Carhartt workwear faster than ever before. That, combined with growing our partnership with DHL and the economic opportunity provided by the city and this new facility, makes Fort Worth a perfect place to do business.”
Notable numbers for the agreement include:
- The personal property taxes will be capped at $2 million.
- The estimated appraised personal property tax appraised value is $50 million.
- The city estimates a little more than $3.19 million in taxes over the next decade.
- The average minimum salary for full-time jobs will be $55,000, according to Carhartt.
- Carhartt will invest $80 million in business personal property, including machinery and equipment.
Carhartt is a family-owned business founded in 1889. Headquartered in Dearborn, Michigan, the company exists to “serve and protect hardworking people,” according to its website. With more than 30 store locations nationwide, the company employs 5,500 employees.