EL PASO, Texas – El Paso City Council Tuesday approved an incentive agreement it hopes will clear the way for iFly Skydiving to open a location in El Paso.
iFly currently has 37 locations around the world that let visitors simulate the sky diving experience in a safe and indoor environment.
“Attracting entertainment and destination retail companies, such as TopGolf and now iFly, which appeal to our residents and visitors, shows we are achieving that vision. We are strengthening our economic base, which is essential to providing relief to our residential taxpayers,” said El Paso City Manager Tommy Gonzalez.
A City news release states the City’s incentive package for iFly provides $162,863 in sales tax rebates over a 3-year period in exchange for the company’s approximately $12 million investment in El Paso.
The company will create 30 jobs when it opens at Montecillo in 2019, the City said.
“The tax revenues projected to be generated by this project will far exceed its tax rebates,” the City said in a news release, “Over a period three years, this project should produce approximately $659,111 in property tax revenue for local taxing entities.”
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