Victory Packaging seeks incentive deal for relocation to CentrePort
03/18/2014 6:10 PM
03/18/2014 6:10 PM
Houston-based Victory Packaging wants to consolidate two Dallas locations into a new, more efficient facility near CentrePort in far east Fort Worth.
The company is asking the Fort Worth City Council for a 10-year abatement on up to 50 percent of the real and business personal property tax, or $675,000, to help with development of a 330,000-square-foot building at 15101 Grand River Road, east of Texas 360 and south of Dallas/Fort Worth Airport.
The family-owned company, which specializes in distributing such things as boxes, paper and cushion packaging and shipping supplies, said it will spend about $12.5 million to build the facility by June 30, 2015. The city would also waive $75,000 in permit fees under the deal.
Margaret Gay, Victory Packaging’s vice president for real estate, said the company has outgrown its Dallas facilities on Saner Avenue, which total about 240,000 square feet. Employees would transfer to the new facility, but the company also plans to hire additional workers. Gay said she didn’t know how many workers would relocate or be hired.
Gay said the company is looking at other sites in Grand Prairie, Arlington and Flower Mound, but will commit to Fort Worth if the economic incentive is approved. The council will vote on the deal March 25.
The City Council is also considering an abatement on up to 50 percent of the business personal property tax for the Dannon Co., which wants to improve and expand its machinery and equipment at its Fort Worth yogurt plant. The five-year economic incentive deal would abate $320,625 in taxes.
Dannon’s Fort Worth plant has undergone several expansions since it opened in 1979 at 1300 Peter Smith St.
Brad Burkenpas, the plant’s production director, said Dannon is adding new products but also wants to expand capacity.
“It’s an exciting time for us,” Burkenpas said.
Under terms of the incentive, Dannon must spend $9 million in capital improvements by Jan. 1 and another $12 million by Jan. 1, 2017. Dannon must also agree to retain its current 140 employees, and create 20 more jobs by the end of 2016.
Dannon Co. is headquartered in White Plains, N.Y. In addition to Fort Worth, it has plants in Minster, Ohio; West Jordan, Utah, and Portland, Ore. It is a subsidiary of Paris-based Danone, and Dannon is the top-selling brand of yogurt worldwide.
The City Council will also vote on Dannon’s request March 25.
Join the Discussion
Fort Worth Star-Telegram is pleased to provide this opportunity to share information, experiences and observations about what's in the news. Some of the comments may be reprinted elsewhere on the site or in the newspaper. We encourage lively, open debate on the issues of the day, and ask that you refrain from profanity, hate speech, personal comments and remarks that are off point. Thank you for taking the time to offer your thoughts.