26-2770: Resolution - A Resolution of the City Council of the City of Mansfield, Texas, Approving an Economic Incentive and Performance Agreement Between the Mansfield Economic Development Corporation and Go ECM, Inc.; Finding that the Meeting at Which this Resolution is Passed is Open to the Public as Required by Law; Authorizing the MEDC Board President to Execute Said Agreement; and Declaring a

Staff Report & Agenda Item Details

GoECM is a technology manufacturing and re-manufacturing company specializing in automotive chip controllers. Their current corporate headquarters is in Grand Prairie, TX. They intend to relocate their current operations and 60 full-time employees to the existing building at 2401 Highway 287 North by the end of 2026. The facility relocation allows GoECM to expand operations over the next 3 years to over 90 employees, with an average full-time wage of $70,000 annually. They plan to launch a trade school for small electronics remanufacturing within the same facility. In addition to the relocation, GoECM will be making improvements to the facade, landscaping, and parking at the existing building, which is located at the northern gateway to the City of Mansfield. The company and improvements will generate new Ad Valorem, Business Personal Property, and Sales Tax Revenue. Due to timing constraints, GoECM will move its corporate headquarters to Mansfield by the end of 2026 and begin operations. The facade, landscaping, and exterior improvements will take place in 2028 or 2029. They will also be making improvements to the fire lanes and installing a fire suppression system to the building prior to occupancy. The incentive of up to $300,000 is eligible for reimbursement of expenses for fire suppression, fire lane paving, facade, and landscaping improvements. To be eligible to receive the reimbursement grant, GoECM must complete the facade and landscaping improvements along with other required life-safety improvements to the building. The grant is only available to be paid between 2028-2030 after they've made the necessary improvements to the building and landscaping. The Economic Incentive and Performance Agreement was approved by the Mansfield Economic Development Corporation. However, the Economic Development Act still requires that all economic development agreements receive approval by the City's governing body.

This motion is scored as EXPANDS_GOVERNMENT (Impact Weight: 4.7/10). Under the Bastiat Liberty Watchdog Index, measures that increase tax rates or fee schedules, issue new debt or Certificates of Obligation, expand regulatory/zoning restrictions on private land use, or authorize unbudgeted spending expansions reduce an official's Freedom Score when voted YES (and reward dissenting NO votes).