The details
According to city documents, the expansion of Ariat, a footwear and clothing company focused on equestrian sports, work and outdoor gear, and the construction of the new regional distribution center would result in approximately $72.6 million in additional capital investment and 250 new jobs.
As part of the agreement with the city, Ariat must expend a minimum of $6.9 million in total construction cost as part of the headquarters expansion by Dec. 31, 2027. In addition, the company must spend a minimum of $19.9 million in total construction costs as part of the regional distribution center by Dec. 31, 2027.
In terms of jobs, city documents state Ariat must provide a minimum of 100 full-time jobs as a result of expansion project by Dec. 31, 2029, with average annual salaries of at least $95,000 for the duration of the agreement. The company must also provide an additional 150 jobs at the regional distribution center site by Dec. 31, 2031.
For its part, city documents state Fort Worth must provide the following:
- A one-time grant from the Economic Development Initiatives Fund of up to $300,000 following initial completion of the headquarters expansion.
- Up to five annual Economic Development Program Agreement grants based on 70% of the Maintenance and Operations of incremental city property taxes on real and business personal property.
- Construction on both facilities slated for completion before Dec. 31, 2027
- Regional headquarters is located at 15201 Blue Mound Road, Fort Worth; regional distribution center will be located at 2501 Eagle Parkway, Fort Worth
- www.ariat.com
