Dallas Approves $1.7 Million in Incentives for New Vistaprint Manufacturing Facility

Last week, we reported Cimpress could potentially bring more than 600 full-time jobs to Dallas County with a new 322,000-sq.-ft. manufacturing facility for its Vistaprint subsidiary. The proposition, deemed “Project Apollo,” was subject to a vote by the Dallas City Council on June 13, which would decide whether or not to offer nearly $1.7 million in incentives to the company to promote economic development in an area riddled with a high rate of poverty and unemployment. The Dallas Morning News reported that Dallas estimated the project would generate more than $1.8 million in net revenue over the course of 10 years. It also explained the proposed incentives in detail:

The economic incentives proposal from Dallas includes $1.3 million in property tax abatements for up to 10 years for Vistaprint Manufacturing Texas and project developer Becknell Industrial Operating Partnership. Becknell would develop the land and lease it to Vistaprint for 10 years, with an option for the company to buy the plot outright.

The city’s economic development incentives package also includes up to $300,000 in Chapter 380 economic development grants to assist Vistaprint with workforce training programs for Dallas workers.

On June 13, The Dallas Morning News reported that the Dallas City Council voted in favor of the incentives to prompt Vistaprint to build its facility in the area.

“Vistaprint is the right type of company because it’s manufacturing,” District 8 Councilman Tennell Atkins, whose district includes the plant’s future site, said to The Dallas Morning News. “In the Inland Port, we got a whole lot of warehouse [space], and those jobs … pay $12, $13 an hour. Vistaprint is manufacturing. They pay a high, living wage – $40,000, $50,000 jobs. Better than that, you get manufacturing. We need more manufacturing to sustain development. It’s a job creator.”
more at source: https://www.piworld.com/article/dallas-approves-incentives-new-vistaprint-manufacturing-facility/

Related Posts

SGP Foundation earns GuideStar Silver recognition

The Sustainable Green Printing Partnership (SGP), the leading authority in sustainable printing certifications, announced today that its sister organization, SGP Foundation Inc, earned the Silver GuideStar Nonprofit Profile Seal of Transparency. This is the second level of recognition offered by GuideStar, the world’s largest source of nonprofit information. SGP Foundation is moving forward in its mission to provide education and awareness of sustainability best practices to the printing industry. “Since 2016, we have been building a 501(c)3 organization dedicated to providing education on sustainable practices for and in the printing industry,” said Jonathan Graham, SGP Foundation chair. “We are pleased to now share our organization’s transparency in a user-friendly and highly visual manner. By updating our GuideStar Nonprofit Profile to the Sliver level, we can now easily share more information with our supporters as well as GuideStar’s online community of donors, grantmakers and the public.”

Quad/Graphics Reports Second Quarter and Year-to-Date 2017 Results

Net earnings improved during the second quarter of 2017 to $7 million, a $15 million increase, versus an $8 million net loss in 2016, despite a 6.7% decrease in net sales to $963 million. Organic sales decreased 4.8% due to ongoing industry volume and pricing pressures after excluding pass-through paper sales (-1.7% impact) and foreign exchange (-0.2% impact). The organic sales decrease is consistent with the Company’s previous guidance. Diluted earnings per share improved to $0.13 compared to a $0.16 loss in 2016 primarily due to lower depreciation and amortization, and cost reductions and productivity improvement activities. Second quarter 2017 Non-GAAP Adjusted EBITDA decreased $1 million to $97 million compared to $98 million in 2016; however, Adjusted EBITDA margin improved to 10.0% from 9.5% in 2016. Non-GAAP Adjusted Diluted Earnings per Share improved by $0.21 during the second quarter 2017 to $0.24. The improvement in Adjusted EBITDA margin and Adjusted Diluted Earnings per Share was primarily due to cost reductions and productivity improvement activities. Click Read More below for additional details.

Personalization as a megatrend – Heidelberg showcasing digital printing solutions at InPrint 2017

Heidelberger Druckmaschinen AG will be presenting digital printing solutions for the automotive sector at stand 372 at InPrint 2017 in Munich from 14 to 16 November. These solutions help providers from the sector to offer their customers personalized, attractive products – using digitally realized designs that are in ever greater demand given the megatrend of personalization. Using the example of a smart car, Heidelberg will be hosting live demos at InPrint showing how digitization and new printing technologies enable individual small series or individual parts to be quickly and easily realized. The items on show at the trade fair will range from custom-decorated speedometer bezels and ventilation nozzles to alloy rims. The Heidelberg Omnifire 250 4D printing system will be in operation for visitors to see. Click Read More below for additional information.
Back To Top
×Close search
Search