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TCU rises 20 places on influential U.S. News & World Report ranking

St. John's College in Annapolis, Md., has long disdained the rankings game. The liberal arts school, which focuses on the great works of Western civilization, was known for not responding to requests from U.S. News & World Report for information that the magazine uses to sort the nation's colleges.

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Fort Worth-based Woodmont plans $80M Hard Rock Hotel retail center

Woodmont Outlets of Fort Worth, an affiliate of The Woodmont Co., has partnered with Cherokee Nation Businesses for a proposed upscale retail development at Hard Rock Hotel & Casino Tulsa.

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Barnett still packs economic punch, study finds

Despite reduced drilling and unstable gas prices, Fort Worth continues reaping the rewards of the Barnett Shale, according to a newly released study by The Perryman Group.7

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Time to make more Do-Nuts in DFW

Shipley Do-Nuts has signed a development agreement with Adkins Development Corp. to accelerate expansion in the Dallas-Fort Worth market.

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Leo's Foods to shutter Fort Worth plant, lay off 84

In a filing with the Texas Workforce Commission, Leo’s Foods will begin terminating employees over a 14 day period beginning Oct. 10.

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Fort Worth approves $6.5 million in incentives for American reservations center

By Scott Nishimura
snishimura@bizpress.net
 
Fort Worth City Council members unanimously approved $6.5 million in incentives for a new American Airlines reservations center at 4700 American Blvd. near Dallas/Fort Worth Airport.

The package, passed in a 9-0 vote, includes a one-year tax abatement and a 14-year economic development grant agreement to help American Airlines build a planned reservations center at 4700 American Blvd. The incentives are worth up to $6.5 million.
 
As part of the agreement, the Council also waived up to $32,000 in development fees. 
 
To get the maximum incentive, American committed to $55 million in construction and $33 million in personal property improvements by Dec. 31, 2015.
 
“Failure to meet the real property investment is a condition of default and will result in immediate termination of the agreement,” the city staff told the City Council in a report.
 
The one-year tax abatement would potentially abate up to 85 percent of city property tax added by the real and personal property on the site.
 
Under the economic development agreement, the city will make annual grants to American for up to 85 percent of the city property tax added but the real and personal on the site.
 
To get the full incentive, American is committing to employ a minimum 1,300 full-time employees on the site by Dec. 31, 2015.
 
The company will fill the greater of 15 percent of all jobs, or 195, with Fort Worth residents, or the greater of 5 percent of all jobs, or 65, with Fort Worth central city residents.
 
To get the maximum incentive, American is also committing to spend the greater of $13.75 million, or 25 percent of construction costs, with Fort Worth contractors.
 
The company is committing to spend the greater of $13.75 million, or 25 percent of construction costs, with local contractors that are minority or women-owned.
 
The overall contracting and minority and women contracting figures can overlap.
 
American also committed to spend the greater of 30 percent or $150,000 of annual discretionary supply and service expenditures with Fort Worth contractors.

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