Title
Resolution - A Resolution of the City of Mansfield, Texas, Approving an Economic Development Agreement Between the Mansfield Economic Development Corporation, and American Carton Company, Inc.; Authorizing the MEDC President To Execute Said Agreement; and Providing an Effective Date
Requested Action
Approval of the Economic Development Agreement with American Carton Company, Inc.
Recommendation
Approval of the Economic Development Agreement with American Carton Company, Inc.
Description/History
American Carton Company (ACC) started in a small warehouse in Mansfield in 1992. A short 5 years later they moved into their current 51,000 SF facility located at 607 S. Wisteria St. ACC manufactures paperboard cartons for the food, healthcare and retail industries.
ACC will be adding 60,000 SF for a toal of 111,000 SF. The expansion is estimated to cost $3,360,000 with an additional $1-2MM in business personal property. They currently employ 60 and will be adding 20-25 jobs within the next five years.
ACC is asking for MEDC assistance with fire lane, fire line, fire suppression, site utilities and enhancements to the exterior of the existing facility in an amount not to exceed $350,000.
Justification
Assist a locally grown company double their footprint, therefore, adding jobs and investment.
Funding Source
4A
Prepared By
Richard Nevins, MEDC, 817-728-3652