Richardson nominates Fossil for state's sales tax reimbursement program

Apparel brand Fossil has been headquartered in Richardson for 35 years.

Apparel brand Fossil has been headquartered in Richardson for 35 years.

The city of Richardson is backing a request by accessory brand Fossil to receive a sales tax kickback from the state.

The Texas Enterprise Zone Program provides a sales and use tax refund to companies that invest in economically distressed areas. Fossil representatives said 35% of the employees they hire over the next five years will live in such areas. Enterprise zones are dictated by the census, according to city documents.

Fossil intends to sink $5 million into property improvements, landscaping, new furniture, fixtures, computers, servers and software at its Richardson headquarters, according to the city. This level of investment will qualify the company for a potential sales tax refund of $2,500 per position for up to a maximum of 500 jobs.

If Fossil's application is approved, it could see a reimbursement from the state of up to $1.3 million, according to city documents.

This is not the first time the city has thrown its weight behind a local company seeking an Enterprise Zone designation. It has also approved resolutions in support of Qorvo, Blue Cross/Blue Shield, Triquint and Raytheon. Companies must be nominated by a city to qualify for the program.

Fossil's application must be submitted by Sept. 1, and projects are typically designated within eight to 10 weeks, according to the program's website. Council members approved on consent the resolution to back Fossil's request at their Aug. 19 meeting.
By Olivia Lueckemeyer
Olivia Lueckemeyer graduated in 2013 from Loyola University New Orleans with a degree in journalism. She joined Community Impact Newspaper in October 2016 as reporter for the Southwest Austin edition before her promotion to editor in March 2017. In July 2018 she returned home to the Dallas area and became editor of the Richardson edition.


MOST RECENT

City Manager Dan Johnson explained the importance of the resolution at a Aug. 3 council meeting. (Courtesy Citizens Information Television)
Richardson City Council votes to allow waiver of Texas law restricting property tax increases of more than 3.5%

State law permits the action when a natural disaster declaration has been put into place; however, there are no plans to issue the waiver for the upcoming fiscal year.

A new Whataburger location is expected to open Aug. 17 at 3052 Golden Triangle Blvd., Fort Worth. (Courtesy Whataburger)
Whataburger coming to Northeast Fort Worth, upcoming events in Frisco: News from DFW

Read the latest Dallas-Fort Worth business and community news.

Texas sales tax
Report: With boost in e-commerce, Texas sales tax receipts increased 4.3% in July

The loss of extra unemployment support could send numbers back down, however.

The Texas State Teachers Association has asked the state to prohibit in-person teaching until at least Sept. 8. (Design by Shelby Savage/Community Impact Newspaper)
Texas State Teachers Association demands TEA prohibit in-person classes until Sept. 8

The statement was released after Texas Attorney General Ken Paxton earlier this week said that local districts have the sole authority to close schools due to the ongoing pandemic.

As of July 31, there are 49,976 confirmed coronavirus cases in Dallas County. (Community Impact staff)
Dallas County seeing decline in number of positive coronavirus cases compared with early July

Dallas County is reporting a 6% decrease in positive cases from the previous week.

Frisco residents can register for the free test beginning at 8 a.m. Aug. 1 at Texas.curativeinc.com. (Community Impact Newspaper)
Free COVID-19 saliva testing site to open at Dr Pepper Ballpark in Frisco

The saliva tests will be offered to all residents of North Texas, regardless of county or city of residence, though pre-registration is required.

The community center offers a space for guests who wish to play board games, card games or participate in tournaments. (Courtesy The Local Game Store)
The Local Game Store celebrates one year in Richardson

The community center offers a space for guests who wish to play board games, card games or participate in tournaments.

TASA leaders said in the letter that changing guidelines coming from the state are overly complicated and have only created confusion. (Courtesy Adobe Stock)
Texas Association of School Administrators asks state for more local control, clear guidelines in 2020-21

TASA leaders said in the letter that changing guidelines coming from the state are overly complicated and have only created confusion.

Pizza Americana offers a variety of pizzas, wine and beer. (Courtesy Pizza Americana)
Pizza Americana now serving Richardson, Hotel Vin announces grand opening in Grapevine: News from DFW

Read the latest business and community news from the Dallas-Fort Worth area.

Check out the latest businesses and restaurants to open in Richardson. (Courtesy Pexels)
ROUNDUP: See the latest business, restaurant openings in Richardson

Check out these businesses and restaurants that have recently opened in Richardson.