Page 229 - FortWorthFY23AdoptedBudget
P. 229
Special Revenue Fund
The following table reflects the maximum level of 380 Grants available to a qualifying business based on the
required minimum salaries for net new full-time permanent jobs. All jobs must be filled and maintained for a
minimum of 3 years in order to qualify. Remedies for enforcement of this requirement will be established in the
Economic Development Program Grant Agreement.
Minimum Annual Wage Rate Maximum Amount Per New Position
$65,800 - $80,389 $1,000
$80,390 - $94,949 $1,500
$94,950 - $109,499 $2,000
$109,500 or above $2,500
FY2023 DISCUSSION AND SIGNIFICANT CHANGES
The fund has approved four awards since inception for a total amount of $2,090,750 which will be paid after
verification of job commitments has occurred.
These approved awards include: $1,000,000 to Wesco/Incora Aircraft for the creation of 615 jobs, $218,750 to
Watts/PVI for the creation of 243 jobs, $212,000 to Ariat International for the creation of 450 jobs, and $660,000
to Smart Action for the creation of 81 jobs. Since these funds were provided by the Local Development
Corporation, there is no impact to the general fund.
Service levels remain unchanged in the FY2023 Adopted
Page 229 of 623
