Tax Abatement Request With Fort Worth City Council Totals $13.5 Million

The Fort Worth City Council has on its plate a tax abatement request from Bell Helicopter worth about $13.5 million over 20 years. The company is considering plans to consolidate operations in the city, and would be required to make a long-term commitment in terms of employment.

Bell would have to jump through a lot of hoops to get the deal. The Fort Worth Star Telegram reports that the helicopter company would need to spend $235 million on the consolidation by the end of 2015, and retain 4,500 employees on the payroll through 2020. That minimum drops to 3,900 through 2028 due to expected attrition in the out years.

But there's more. The City Council wants a guarantee that 20 percent of the workers live in Fort Worth, and five percent within a defined area of the central city.

What would Bell get from all of this? The paper reports that the deal on the table would give the company an 80% break on its real property and business personal property taxes for the next 20 years.

The deal has the backing of Fort Worth Mayor Betsy Price, who in a prepared statement called Bell a mainstay of the north Texas Aerospace industry. "We want to do everything we can to keep those jobs here in our back yard," she said. "This investment makes Bell Helicopter a stronger company and that makes Fort Worth a stronger city."

FMI: www.bellhelicopter.com, www.fortworthgov.org