LANCASTER – The city has approved a 1.9 million, $800 million industrial project for Walmart.
The two buildings will create at least 1,300 jobs within three years of openings.
Walmart will build a 1.2 million-sf fulfillment center on 292 acres at the southwest corner of E. Best Line and Sunrise Roads. The $420 million project will create 1,000 jobs.
The other building is a 700,000-sf cold storage facility on 162 acres at the southwest corner of E. Pleasant Run and Cornell Roads. It will cost $380 million and create 300 jobs.
The deal will include property tax abatements of up to 65 percent for 15 years as long as the value of the property doesn’t fall below $800 million. The city also approved a grant of up to $2 million for infrastructure improvements.
After tax rebates, both projects will bring in nearly $2.3 million in annual revenue to the city and more than $34 million over 15 years.
The Texas Real Estate Research Center has more on DFW’s industrial market: