According to its website, Beauty Manufacturing Solutions “is a leading U.S. manufacturer of innovative cosmetic, beauty and personal care products, and a top competitor in the industry.” The company is based in Coppell, and this will be a second location.
Beauty Manufacturing Solutions produces a variety of skin care, hair care and cosmetic products for national brands.
"The growth and success of companies, especially in manufacturing, need great partnerships and great people. BMSC is fortunate to partner with the city of Fort Worth for this ambitious new expansion that will create a new standard in personal care contract manufacturing,” said Peter Song, CEO of Beauty Manufacturing Solutions, in a press release. “This site will merge new technologies in manufacturing along with the supporting infrastructure and ambitions from the city and our company. Most importantly, it gives us the opportunity to welcome new teammates into our organization for the decades to come.”
The abatement approved will grant a 70% property tax abatement for a decade, capped at $2 million. If the company invests at least $90 million by Dec. 31, 2028, the cap will be increased to $3.5 million, according to documents.
Fort Worth landed the new development over Mansfield, Texas, and Oklahoma City, Oklahoma, which also was under consideration for the new location, according to documents. There are also certain terms and conditions that must be met. For example, a 10-year tax abatement, such as the one granted to Beauty Manufacturing Solutions, must have at least $100 million invested or create more than 500 jobs.
The company, which was founded in 1922, will bring at least 250 full-time jobs with a minimum salary of $65,800 that must be filled by Dec. 31, 2025, according to documents.
“We’re proud to welcome leading beauty manufacturer Beauty Manufacturing Solutions Corp. to Fort Worth.” said Chris Strayer, executive vice president of economic development for the Fort Worth Chamber, in a press release. “This second facility will create additional jobs and growth in Fort Worth, all while retaining its initial investment in DFW.”
Beauty Manufacturing must spend a minimum of $30 million in total construction cost before Dec. 31, 2024, and needs to have a minimum taxable appraised value of $40 million by Jan. 1, 2026.
Cities use tax abatements to encourage economic growth within specific regions of their cities. Whether the city is trying to attract certain sectors, such as warehousing, manufacturing and transportation innovation; it is trying to increase international business; or perhaps entice a corporation to relocate its headquarters, the use of tax abatements helps attract projects that have a meaningful economic impact to the community.
According to the city of Fort Worth website, “Tax abatements can only be granted to people or organizations that either own taxable real property in a tax abatement reinvestment zone, or own a leasehold interest in real property in a tax abatement reinvestment zone.”
