Independent HW dealer seeks tax incentive

An Ace dealer in northeastern Oklahoma is seeking $100.000 in tax incentives to open a new store in town, according to an article in the Bartlesville Examiner Enterprise.

The Bartlesville, Okla., Development Corporation board of directors is evaluating a request from prospective retailer Jeff Potter to open an Ace Hardware store with 13,500 sq. ft. to 14,400 sq. ft. of retail space and an additional 6,000-sq.-ft. to 8,000-sq.-ft. garden center.

In a letter to the city, Potter said his company estimates a new Bartlesville store would provide 12 to 14 full-time positions with an estimated payroll of $65,000 per year and a stabilized sale revenue of $2.75 million.

Potter is asking for 50% of the estimated $20,025 that would be generated annually by a 3% sales tax. Over a 10-year period, that amount would total approximately $100,000 “to be offered to us as an incentive to locate to Bartlesville," the letter said.

Want to read more?
This content is available only to registered users. Log in to read the rest of this article or create a free account.
© 2014 Home Channel News. All Rights Reserved.