From
Bob O'Neal
Title
Resolution nominating Bell Helicopter Textron, Inc. for an Enterprise Zone Project
Presenter
Bob O'Neal, Economic Development Director
Recommended Action
Approve
Analysis
Bell Helicopter Textron is requesting nomination for the State of Texas Enterprise Project Status for Job Retention by the City of Grand Prairie. If selected, Bell would be eligible to receive State sales tax rebates from taxable purchase made by the Company in its retooling efforts.
Bell currently has 1,200 employees at its 1700 North Highway 360 Grand Prairie facility. Bell plans to purchase 29 million dollars' worth of capital equipment over the next few years. Bell hopes to receive a Texas Enterprise Program designation from the State of Texas to assist with the retention of these jobs for the length of the program's 5 year designation period.
Bell has been a long time major employer and a great corporate citizen within the City. Bell is committed to hiring 35% economically disadvantaged persons or enterprise zone residents over the next five years for new or replacement jobs at the facility.
Financial Consideration
None
Body
A RESOLUTION OF THE CITY OF GRAND PRAIRIE, TEXAS, AUTHORIZING THE CITY OF GRAND PRAIRIE TO NOMINATE BELL HELICOPTER TEXTRON INC. TO THE OFFICE OF THE GOVERNOR ECONOMIC DEVELOPMENT AND TOURISM ("OOGEDT") THROUGH THE ECONOMIC DEVELOPMENT BANK ("BANK") FOR DESIGNATION AS A QUALIFIED BUSINESS AND ENTERPRISE PROJECT ("PROJECT") UNDER THE TEXAS ENTERPRISE ZONE PROGRAM UNDER THE TEXAS ENTERPRISE ZONE ACT, CHAPTER 2303, TEXAS GOVERNMENT CODE ("ACT").
WHEREAS, the City of Grand Prairie (the "City") has previously passed Ordinance No. 7358 electing to participate in the Texas Enterprise Zone Program, and the local incentives offered under this resolution are the same on this date as were outlined in Ordinance 7358,
WHEREAS, the Office of the Governor Economic Development and Tourism (OOGEDT) through the Economic Development Bank (the "Bank") will consider Bell Helicopter Textron Inc. as an enterprise project pursuant to a nomination and an application made by the City;
WHEREAS, the City desires to pursue the creation of the proper economic and social environment in order to induce the investment of private resources in productive business enterprises located in the City and to provide employment to residents of enterprise zones and to other economically disadvantaged individuals;
WHEREAS, pursuant to Chapter 2303, Subchapter F of the Texas Enterprise Zone Act, Texas Government Code (the "Act"), Bell Helicopter Textron Inc. has applied to the City for designation as an enterprise project;
WHEREAS, the City finds that Bell Helicopter Textron Inc. meets the criteria for designation as an enterprise project under Chapter 2303, Subchapter F of the Act on the following grounds:
1. Bell Helicopter Textron Inc. is a "qualified business" under Section 2303.402 of the Act since it will be engaged in the active conduct of a trade or business at a qualified business site within the governing body's jurisdiction located outside of an enterprise zone and at least thirty-five percent (35.0%) of the business' new employees will be residents of an enterprise zone or economically disadvantaged individuals; and
2. There has been and will continue to be a high level of cooperation between public, private, and neighborhood entities within the area; and
3. The designation of Bell Helicopter Textron Inc. as an enterprise project will contribute significantly to the achievement of the plans of the City for development and revitalization of the area.
WHEREAS, the City finds that Bell Helicopter Textron Inc. meets the criteria for tax relief and other incentives adopted by the City and nominates Bell Helicopter Textron Inc. for enterprise project status on the grounds that it will be located at the qualified business site, will create a higher level of employment, economic activity and stability; and
WHEREAS, the City finds that it is in the best interest of the City to nominate Bell Helicopter Textron Inc. as an enterprise project pursuant to the Act;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF GRAND PRAIRIE:
That the findings of the City and its actions approving this resolution taken at the council meeting are hereby approved and adopted.
BE IT FURTHER RESOLVED that Bell Helicopter Textron Inc. is a "qualified business", as defined in Section 2303.402 of the Act, and meets the criteria for designation as an enterprise project, as set forth in Section 2303, Subchapter F of the Act.
BE IT FURTHER RESOLVED that the enterprise project shall take effect on the date of designation of the enterprise project by OOGEDT and terminate five years from the date of designation.
PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF GRAND PRAIRIE, TEXAS, ON THIS THE 21ST DAY OF AUGUST, 2012.