It looks like North Texas will be welcoming a number of new headquarters and jobs.
On Tuesday, Arlington’s city council approved multiple agreements that pave the way for three new company headquarters to move to the city.
GAC Media LLC
Christian media company GAC Media will not be moving far when it relocates to 2221 East Lamar Blvd. from its current home in Fort Worth. The company, which owns multiple U.S. cable networks, such as Great American Faith & Living, focuses on family-friendly entertainment.
The deal between the city and GAC Media was completed as a Chapter 380 agreement. Such agreements empower municipalities to offer loans and grants using city resources to spur economic development. Up to $100,000 will be awarded to GAC Media to help recoup renovation and relocation costs.
GAC Media’s move is expected to be completed by the end of 2024 and generate at least 20 jobs in the area. As part of the relocation, the company must maintain its headquarters in Arlington until the end of 2027.
Acciona Facility Services USA, LLC
Like GAC Media, Acciona will similarly benefit from a Chapter 380 agreement.
The Spanish sustainable infrastructure solutions company aims to have its U.S. headquarters up and running by June 1. As part of the agreement, it must remain active for at least 10 years. Acciona must also permit the city to appraise additional business initiatives before Acciona can consider expanding operations in other jurisdictions.
The company must also actively recruit Arlington residents. For its part, the city will provide Acciona with an annual rebate of 65% of the 1% of sales taxes the company pays on service contracts during the coming decade. These rebates are estimated to total $650,000.
Although the conglomerate boasts over 57,000 employees globally, its U.S. footprint will be small to start, housing executive, legal, finance, and business development.
News of Accinoa’s Arlington expansion comes just days after the company made headlines for its restructuring in Brazil. Citing difficulties in tapping into new power generation projects, Acciona is scaling down in Brazil as it expands into North Texas.
E-Space Inc.
Already a hub for space missions, Texas is an optimal location for startup E-Space’s headquarters. The firm focuses on providing a low Earth orbit space system dedicated to delivering space-based Internet of Things solutions and services.
Council members approved the public-private partnership between the city, the Arlington Economic Development Corporation (AEDC), and E-Space.
The company currently has fewer than 100 employees at its Beverly, Massachusetts, and Saratoga, California offices. However, it aims to construct a 750,000-square-foot manufacturing and office space at Arlington Municipal Airport that is expected to generate around 2,000 jobs over a 10-year period.
The company will contribute $50 million for its construction as part of the project. The City of Arlington will lease the grounds to AEDC during the first phase of development, with the corporation owning the improvements. The property will then be leased to E-Space for 30 years, with the potential for two additional five-year extensions.
E-Space will receive grants to hire local residents and a 50% rebate on eligible personal property. To qualify for the incentives, the company must create a minimum of 400 jobs with an average salary of $95,000.
