By Patrick McNamara for Arizona Daily Star
National home furnishings retailer HomeGoods has purchased 100 acres of undeveloped property near Tucson International Airport, and confirmed it plans to open a distribution center on the site (AZBEX, Jan. 13, 2015).
Massachusetts-based TJX Companies, which owns HomeGoods, paid $9.5M to buy five parcels on the 3600 block of East Corona Road near South Alvernon Way, according to documents filed with the Pima County Recorder’s Office.
The company was drawn to Tucson in part by a combined city/county incentive package worth nearly $1.6M in tax and fee write-offs in the first year — and totaling more than $6M over 15 years.
Even with those write-offs, the development will be a financial bonanza for local governments because, as vacant land, the property now generates only about $44K a year in taxes. In addition to bringing up to 900 jobs, HomeGoods will also pay about $300K a year in property and sales taxes.
The company plans to hire at least 400 people initially, with employment expected to grow to 900 workers over the years.
Pima County has identified areas south of TIA as prime locations for similar industries. County leaders have been working to get federal and state funding to build a connection between Interstates 10 and 19, the so-called Sonoran Corridor.
The Pima County Board of Supervisors finalized a reduced property-tax incentive package for the company in January. The Tucson City Council followed suit in March with an incentive package that includes reimbursement of city construction sales, use taxes and building permits.
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