Thursday, July 30, 2015
Galderma looking to expand its U.S. headquarters in Fort Worth, add 342 new jobs
Fort Worth-based Galderma Laboratories LP would like to expand its U.S. headquarters with a new 100,000-square-foot facility in the Interstate 35W corridor in north Fort Worth that could become home to 342 new jobs.
But the deal is contingent on state and local economic incentives, which have yet to be approved.
The international manufacturer of dermatological products could also choose to expand its operations with a new facility in Granbury, New Jersey, Robert Sturns, interim director of the economic development director for Fort Worth, told the Dallas Business Journal.
"This project is still wide open," Sturns told me. "They've also got an incentive offer from New Jersey and they have another offer on the table. This project is very important to us — not only the number of jobs — but will help us maintain the 300 jobs they already have here."
Last week, Sturns was named interim director of the Fort Worth economic development department after Jay Chapa was named assistant city manager.
Galderma has applied for an economic incentive agreement with the City of Fort Worth and asked the state for economic incentives through the Texas Enterprise Fund. The company's representatives did not return requests for interviews on Monday.
If the deal goes through, Galderma could invest nearly $14 million in building the new medical products facility at the northeast corner of Texas Longhorn Way and Heritage Parkway in Fort Worth.
As part of the deal, Galderma would retain its 280 full-time employees, with plans to grow its workforce in phases. The company would plan to create 40 new full-time jobs by Dec. 31, 2016, increasing that number by an additional 302 full-time employees by Dec. 31, 2020.
In all, Galderma would employ 622 full-time employees from Dec. 31, 2020 throughout its economic incentive agreement with the City of Fort Worth.
The average salary for all full-time employees at Galderma will be a minimum of $110,000 annually, according to city documents.
As part of the agreement with Fort Worth, the company must spend a minimum of $500,000 each year on discretionary service and supply expenditures with Fort Worth contractors.
Galderma must spend a minimum of $250,000 on service and supply expenditures with contractors that are Fort Worth certified minority or women-owned business enterprises.
In return, Galderma will receive a tax abatement and economic development agreement valued at about $600,000 throughout the 10-year term.
The agreement, which will be discussed at Tuesday evening's City Council meeting, is subject to approval by city council members.
Candace Carlisle/ Dallas Business Journal