Page 57 - Grapevine FY20 Approved Budget
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Waterlogic USA to establish North American Headquarters in Grapevine,
create over 160 new jobs
Waterlogic USA, Inc., a global manufacturer of drinking
water dispensers, will establish its new North American
Headquarters in Grapevine.
The project is expected to create 164 jobs and more than
$1.6 million in capital investment. The new headquarters and Center of Excellence off of Bass
Pro Drive will feature a second manufacturing plant, in addition to the company’s plant in China,
and will also be where leadership will be headquartered. Hiring is expected to ramp up in the
next 12 to 18 months, with the first 50 to 75 employees beginning to be brought on in the coming
weeks.
After a nationwide search that looked at cities like Reno, Nevada, and Salt Lake City, Utah, and
states like Kentucky and Tennessee, a combination of Grapevine’s affordable cost of living,
labor pool, central location in the U.S. and proximity to an international airport played a role in
the decision.
The Long-Range Financial Forecast, as presented below, provides a view of the city’s fiscal plan
for general government operations, debt service obligations and capital maintenance needs for
the next three years. The forecast assumes that the current tax rate of $0.284271 per $100
valuation either remains constant, or is lowered to the effective rate, if necessary. The forecast
does not assume a tax rate increase.
The forecast also includes estimated principal and interest payments for future debt issues for
large capital equipment, such as fire apparatus, which require such a long lead time and have
such a long useful life that it is economically prudent to finance via debt rather than cash. The
forecast also assumes the issuance of $68.5 million of additional debt for the construction of a
new public safety complex and the expansion of the Community Activities Center, subject to the
passage of a bond election in November 2012.
The forecast also projects a stable employment level, with no increase or decrease in authorized
full-time equivalent (FTE) levels throughout the three-year forecast period. Annual across-the
board market salary adjustments of 2% are also included in the projection.
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