The city of Fort Worth is considering giving up to $847,500 to supply chain companies to set up shop in the West 7th entertainment district.
Nevada-based ITS Logistics is looking for space to house an operations center for its new ContainerAI platform. The technology uses artificial intelligence to streamline the shipping process, helping businesses reduce costs and avoid late fees.
The company is considering office space in the One West 7 building at 2859 Crockett St., and the city of Fort Worth is considering providing grants to help the company settle.
ITS Logistics already operates a more than 1 million square foot distribution center just north of the BNSF terminal in far north Fort Worth.
Under the proposed grant package, the company would commit to investing at least $1 million in renovating its office space and hiring 250 to 339 employees with a minimum salary of $100,000.
The subsidy is tied to the number of jobs the company creates. You must hire a minimum of 250 people, but every employee after that will earn your company her $2,500 grant until you hire employee number 339.
At least 30% of those employees must be Fort Worth residents, and 15% of the construction cost of the renovation must be paid to a city-chartered business equity firm. These are businesses where at least 51% of ownership is Black, Hispanic, Asian, Native American, or female.
If ITS Logistics meets these commitments, the city will provide the grant over three years.
City Councilwoman Elizabeth Beck, whose district includes West 7th, said during Tuesday's council work session that the incentives are part of the city's larger mission to “reimagine what West 7th can be.” He stated that he positioned it as such.
The area has been in the spotlight for a number of high-profile mass shootings, including that of TCU student Wes Smith, who was killed in September 2023. The city has taken a number of steps to limit the proliferation of nightclubs, including changing zoning regulations and working with property owners to establish nightclubs. Special taxing district to pay for safety improvements.
“To create the type of businesses and restaurants that we want, you have to get people in there. That really takes daytime traffic,” said Beck, who plans to build office space on West 7th. He added that holding companies are a good way to help. Positive changes are coming to this region.
According to online business magazine Inc.com, ITS Logistics is one of the fastest growing companies in the United States. It helps businesses manage their transportation needs by coordinating shipping, trucking, and rail travel across state and international borders.
The City Council is scheduled to vote on the incentives at its May 14 meeting.
