Fort Worth council approves $1.5 million incentive package for video game company
The Fort Worth city council voted unanimously on Tuesday to offer video game company ProbablyMonster Inc. $1.5 million in tax incentives to set up shop in Cowtown.
The package requires the Bellevue, Washington-based company to set up shop in Fort Worth, create 300 jobs paying at least $75,000 a year, and have at least a third of those jobs go to Fort Worth residents.
The city would pay out the tax incentives over a five-year period. The company has to keep the 300 jobs through June 1, 2031. If they don’t, the city can claw the money back.
The grant money is coming from a special city fund set up to promote economic development, city economic development director Robert Sturns told the council on Tuesday.
The company is anticipated to move into a temporary office in downtown Fort Worth by June 1, Sturns said.
It needs to lease 30,000 square feet of permanent office space in Fort Worth by the end of 2024 to qualify for the incentive.