Title
Approval of an economic development agreement and use of 4B funds for Bison Logistics.
Summary
The PCDC board approved an economic development agreement with Bison Logistics at its March 10 meeting that provides an annual benefit to the company in the amount of $1,000 per job created after the effective date of the agreement.
Bison Global Logistics is an Austin-based logistics and freight forwarding company that was formed in 1991 as a full service airfreight forwarding operation and quickly evolved into one of the fastest growing logistic solutions companies. It is currently located on Bratton Lane. The company plans to relocate its Central Texas base of operations. They require operational status in a new facility by August 2011 and are actively working on plans for a site on Heatherwilde Boulevard in Pflugerville. The company currently has a location in Dallas and is opening a new terminal in Oklahoma City. The site under consideration in Pflugerville is a build-to-suit new construction.
Bison will employ approximately 70, most being drivers that will be away from the facility most of the time, with at least 20 based at the facility daily. The addition of a new business unit to the company is expected to result in up to 30 jobs within two years.
Another provision of the agreement is that the company will allow the PCDC to place Pflugerville promotional messages on the sides of up to 25 of its trailers. That is, the sides and backs of the trailers can be covered with an image that promotes Pflugerville, and in some cases, also include the Bison logo.
Deadline for City Council Action
N/A
Fiscal Impact
The agreement limits the total benefit to be paid by the Pflugerville Community Development Corporation to $150,000 over five years. The actual amount paid is dependent on the number of jobs added by the company during the next five years.
Staff Recommendation
Approve the economic development agreement and use of 4B funds for Bison Logistics.
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