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New arena at Will Rogers takes shape


The proposed Will Rogers Memorial Center arena continues to take shape as voters head for a Nov. 4 election to decide whether to approve new taxes to help pay for the $450 million facility.

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Ex Rangers manager Washington apologizes for 'breaking wife's trust'

IRVING, Texas (AP) — Former Texas Rangers manager Ron Washington says he is embarrassed for 'breaking his wife's trust.'

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Cooking Class: Fort Worth chef brings home the gold

Toques off to Timothy Prefontaine. The executive chef at the iconic Fort Worth Club is currently the best in the nation, according to the American Culinary Federation. Prefontaine earned the title of 2014 U.S.A.’s Chef of the

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Fort Worth firm 'simplifies' advertising

Reaching customers requires more than price slashing and flashy ads. In today’s competitive marketplace, machines – not men and women – are essential to tapping new markets and

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Trinity Valley School leader to leave in May 2015

Gary Krahn, head of school for the past eight years at Trinity Valley School in Fort Worth, will leave his position in May 2015 when he and his wife Paula will move

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Fort Worth ahead in job creation, contracting from incentive agreements

By Scott Nishimura
snishimura@bizpress.net

Companies that have received financial incentives from Fort Worth were ahead of their commitments for job creation, local construction, supply and services spending, and minority and women-owned enterprise contracting through 2013, the city said in an annual internal audit.

In an audit of 43 agreements, companies receiving incentives created 9,195 jobs through 2013, well above the 3,585 they committed, Robert Sturns, the city’s business recruitment and retention manager, said.

Against their commitments to hire central city residents in Fort Worth - inside Loop 820 - the companies created 1,259 jobs, compared to 1,167 they committed to.

On construction spending with Fort Worth contractors, the companies spent $499.4 million through 2013, compared to $262.7 million committed, the audit said.

On local goods and services spending, the companies spent $20.1 million, compared to $14.3 million committed, the audit said.

On spending with minority and women-owned construction contractors, the companies spent $285.9 million, compared to $196.4 million committed.

On goods and services spending with minority and women-owned firms, the companies spent $12.8 million, compared to $8.7 million committed.

Of the agreements analyzed, 10 were property tax abatements, 25 were Chapter 380 gap-financing grants, and eight were completion reports.

“Overall, the picture is very positive,” Sturns told Mayor Betsy Price and City Council members Tuesday.

Companies receiving abatements that didn’t meet their commitments points to “softness in the economy,” Sturns said. “Companies are still struggling, and they’re making layoffs and they’re curtailing their annual spending.”

On property tax collections for the abatement agreements, the city was ahead of projections, collecting $1.1 million compared to a projected $558,864, the audit said.

The value of the abatements to the recipients was below projections, at $1.7 million, compared to $2.3 million projected.

On the Chapter 380 grants, the city collected $17.1 million property tax and gave $10.8 million in grants, for $6.28 million net revenue.

The grants levered $2 billion in private investment, the audit found.

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What do you think of the new plans for a new Will Rogers arena and changes at the Convention Center?