Bell Helicopter Textron. Jay Chapa Housing and Economic Development Department November 1, 2011

Transcription

1 Bell Helicopter Textron Jay Chapa Housing and Economic Development Department November 1, 2011

2 Company Background Founded in 1935 Headquartered in Fort Worth, Texas Additional plants in Amarillo, TX and Mirabel, Canada Maintain key logistics supply and service centers in Europe, Canada, and Singapore as well as in the USA

3 Company Products

4 Project Expansion/consolidation of current Fort Worth facilities at the main headquarters operation located south of Hwy 10 and north of Trinity Blvd. and at Centreport distribution facility Project consist of a new headquarters facility, employee center and training academy at the headquarters site This project will be constructed in four phases Effort is to improve efficiencies that will allow Bell to stay competitive in the long term

5 Current Locations In Tarrant County Plant 8A (Fort Worth) Training Academy / Customer Service Center, Bldg. 63 / Military Programs Center (MPC) Plant 8B (Roanoke) Bldg. 55 / Logistics Center, Repair and Overhaul Center (ROC) Plant 1 & 2 (Fort Worth) HQ, Rotor Systems Center (RSC), Advanced Composite Center (ACC) Plant J (Fort Worth) Warehouse Plant 3 (Fort Worth) Central Distribution Center (CDC) Plant 5 (Grand Prairie) Drive Systems Center (DSC) Bell Helicopter Facility Facility to Consolidate Facility to Remain in Current Location Plant 6 (Arlington) XworX

6 Development Commitments Investment Minimum investment of $235 M by December 31, 2015 Fort Worth Construction Minimum of 30% Fort Worth M/WBE Construction Minimum of 25% Jobs Retain 4,500 FTE from Dec. 31, 2014 through Dec. 31, ,100 FTE by December 31, ,900 FTE by December 31, 2028 Maintain 20% of FTE with Fort Worth residents Maintain 5% of FTE with Central City residents Supply & Service Fort Worth contractors minimum of $1,000,000 Fort Worth MWBE contractors minimum of $500,000

7 Development Commitments by Phase Phase I-- $5 M Construction of a new employee center by December 31, 2012 Phase II -- $5 M Relocation, consolidation and renovation for the repair and overhaul activities as well as relocation of inventory to the central distribution center at CentrePort by December 31, 2013 If the additional new investment is not met the program grants will be reduced by 15% for the remainder of the agreement Phase III --$50 M Construction of a new main headquarters and administration building and associated infrastructure at Hwy 10 and Bell Spur by December 31, 2014 If the additional new investment is not met the program grants will be reduced to a maximum of 50% for the remainder of the agreement Phase IV --$15 M Construction of a new training academy at Norwood Drive and Trinity Blvd by December 31, 2015 If the additional new investment is not met the program grants will be reduced by 5% for the remainder of the agreement $160 million in personal property to be invested by

8 Existing Plant 1 & 2 Configuration 8

9 Proposed Plant 1 & 2 Site Plan 9

10 Administration Building Consolidated campus Center for administration, engineering, human resources, program offices Traditional design Intra-building connectivity 10

11 Training Academy Consolidated campus Utilizes existing facility resources for training, ROC, and warehousing World class integrated training facility Flight training and airfields in a location less affected by metroplex growth 11

12 Proposed Plant 1 & 2 Site Plan 12

13 Training Academy Improvements

14 Recommended Economic Development Incentive City enters into a 1-year tax abatement and 19- year, Chapter 380 Economic Development Program agreement to abate/refund up to 80% on incremental Ad-valorem taxes created within Fort Worth above current Bell taxes base Waiver of development fees associated with the project Enter in to an Enhanced Community Facilities Agreement (ECFA) of up to $1.0 million for the road improvements on South Norwood Street

15 Proposed Incentive Terms Company Commitment Potential Abatement Real and Personal Property Investment 30% Fort Worth Contractors 10% Fort Worth M/WBE Contractors 5% Overall Employment 5% Employment of Fort Worth Residents 10% Employment of Fort Worth Central City Residents 10% Utilization of Fort Worth Companies for Services and Supplies 5% Utilization of Fort Worth M/WBE Companies for Supplies and Services 5% TOTAL 80% Failure to meet investment deadline for Phase 1 results in default and termination of agreement and other phases have reduction of abatement/grant Failure to meet a commitment will result in a reduction of the corresponding component of the grant for that year proportional to the amount the commitment was not met

16 Development Summary Private Investment Minimum $235 M in real and personal property Employment 4,500 by December 31, 2020 Public Investment for abatement and 380 grant capped at 10:1 ratio private investment to public investment Est. Benefit $13,500,000 Est. Ratio 16:1 Norwood Infrastructure ECFA: $1,000,000 CFW Tax Revenue (20 yr projection) Est. New RP & BPP $ 3,375,000 Existing RP & BPP $43,325,000 Total Revenue $46,690,000

17 Questions / Comments