From
Letecia McClendon
Title
Resolution for Flex-N-Gate Enterprise Zone Project
Presenter
Marty Wieder, Director of Economic Development
Recommended Action
Approve
Analysis
Flex-N-Gate, a Tier 1 supplier to the automotive industry, purchased the 430,188 square foot speculative shell building at 2150 West Bardin Road, Grand Prairie, Dallas County, Texas. Having started in 1956 as a small manufacturing shop, Flex-N-Gate has grown to manufacture metal and plastic original equipment components and mechanical assemblies for BMW, General Motors, Ford Motor, Nissan Motor, and Toyota Motor - ranging from advanced computerized bumper assemblies and hinges to pedal systems and instrument panels.
Flex-N-Gate is a good candidate for the Texas Enterprise Zone Program because they will retain 172 jobs, and will add an additional 615 jobs. In addition to investing over $24,000,000 in real property and upgrades, over $140,000,000 in new state-of-the-art robotic equipment will be purchased. Their facility is located in an Enterprise Zone; therefore, they will be committed to hiring 25% economically disadvantaged and enterprise zone residents.
Financial Consideration
No City funds are required to nominate Flex-N-Gate for the Texas Enterprise Zone Program.
Body
A RESOLUTION OF THE CITY OF GRAND PRAIRIE, TEXAS, DECLARING THAT FLEX-N-GATE 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 AND THAT THE ENTERPRISE PROJECT SHALL TAKE EFFET ON THE DATE OF DESIGNATION OF THE ENTERPRISE PROJECT BY THE AGENCY AND TERMINATE FIVE YEARS FROM THE DATE OF DESIGNATION
Whereas, the City of Grand Prairie (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 No. 7358;
Where...
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