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.