Subsidy Tracker Individual Entry
air cargo hub
The subsidy value and jobs projection came from: Jack Z. Smith, "Council expected to approve bond sale for FedEx hub," Fort Worth Star Telegram, March 20, 1996.
The city and the airport arranged for the issuance of $250 million in tax-exempt private activity bonds to cover Fedex's construction costs. The company had responsibility for servicing the debt but was allowed to do so by diverting lease payments on the facility, which was incorporated into the city-owned airport, making it exempt from real property taxes. The value of that subsidy was not reported. Overlaps with main Subsidy Tracker data: none.