Foot Locker Retail, Inc. 330 West 34th Street, New York, NY 10001 Date: June 17, 2021 Todd Greener, Senior Vice President - Global Supply Chain
Application Facts: Company Profile
Industry Retail Trade Foot Locker Retail, Inc. (Foot Locker) is evaluating plans to establish a distribution center in northwest Nevada. The distribution center will service NAICS 448140 markets throughout the United States, particularly the western, southwest, and Type of App New northwest United States. The company leads the celebration of sneaker and Location Washoe County youth culture around the globe through a portfolio of brands including Foot Locker, Lady Foot Locker, Kids Foot Locker, Champs Sports, Eastbay, Footaction, RDA EDAWN, Stan Thomas and Sidestep. Foot Locker prides itself on community activism and contributions; and, this is often implemented through the Foot Locker Foundation, which aims to promote a better world for today’s youth through educational programs and encouraging health and well-being through physical activity. The company is also considering California, Arizona, and Utah. Source: Foot Locker Retail, Inc.
Tax Abatement Requirements: Statutory Company Application Meeting Requirements Job Creation 50 185 Yes Average Wage $24.16 $21.49 Yes (For the purposes of receiving full Equipment Capex (SU & MBT) abatements if county unemployment is over 7%) Equipment Capex (PP) $1,000,000 $26,784,306 Yes Additional Requirements: Health Insurance 65% 69% Yes Revenues generated outside NV 51% 94% Yes Business License Current Pending Will comply Please note: the company does have business licences The license is specific to the retail operations. However, this is the first distribution center operation in Nevada.
Total Tax Liability (without tax abatements) Direct Total $4,251,465 $16,479,147
Tax Abatements Contract Terms Estimated Tax Abatement Sales Tax Abmt. 2% for 2 years $1,678,037 Modified Business Tax Abmt. 50% for 4 years $228,872 Personal Property Tax Abmt. 50% for 10 years $789,999 Total Estimated Tax Abatement over 10 yrs. $2,696,908
Net New Tax Revenues Direct Indirect Taxes after Abatements Local Taxes Property $3,168,540 $4,702,828 $7,871,368 Sales $88,831 $2,205,617 $2,294,448 Lodging $0 $90,943 $90,943 State Taxes Property $154,341 $279,363 $433,704 Sales $564,044 $858,668 $1,422,712 Modified Business $933,694 $705,056 $1,638,750 Lodging $0 $30,314 $30,314 Total Estimated New Tax Revenue over 10 yrs. $13,782,239
Economic Impact over 10 yrs. Total Construction Total
Total Jobs Supported 309 19 328
Total Payroll Supported $138,494,779 $1,017,478 $139,512,257 Total Economic Value $447,320,592 $3,087,325 $450,407,917
IMPORTANT TERMS & INFORMATION Tax Abatements are reduction or discount of tax liability and companies do not receive any form of payment. Total Estimated Tax Abatement is a tax reduction estimate. This estimated amount will be discounted from total tax liability. Estimated New Tax Revenue is amount of tax revenues local and state government will collect after the abatement was given to applying company. Economic Impact is economic effect or benefits that this company and it's operations will have on the community and state economy measured by total number of jobs, payroll and created output. ÿ ÿ 6789@ÿBCDÿEFEBÿ ÿ ÿ G8HÿG9IPQR@ÿS8TUVÿ WXRIY`9aRÿb98RI`T8ÿ cTaR8VT8deÿfgg9IRÿTgÿWITVTh9IÿbRaR@T7hRV`ÿ iFiÿpRe`ÿqrRÿsQVRÿ tQ8eTVÿt9`rDÿquÿivwFCÿ ÿ xRyÿTT`ÿsTIR8ÿ ÿ ÿ bRQ8ÿG9IPQR@ÿ ÿ Wb6pqÿPR8RrÿeY77T8`eÿ`PRÿQ77@9IQ`9TVÿTgÿTT`ÿsTIR8ÿgT8ÿ`PRÿQ@ReÿQV ÿeRÿQXÿ6Q`RhRV`DÿGT 9g9R ÿ SYe9VReeÿQXÿ6Q`RhRV`DÿQV ÿR8eTVQ@ÿ8T7R8`rÿQXÿ6Q`RhRV`ÿ9VIRV`9aReHÿ ÿ TT`ÿsTIR8ÿ9eÿQÿe7T8`eURQ8ÿQV ÿgTT`URQ8ÿ8R`Q9@R8ÿgT8ÿhRVDÿUThRVDÿQV ÿIP9@ 8RVÿ@TIQ`R ÿ9VÿTaR8ÿEiÿ ITYV`89Reÿ@TQ@@rDÿ9VI@Y 9VÿhT8Rÿ`PQVÿEDFFFÿe`T8Reÿ9Vÿ`PRÿV9`R ÿ`Q`ReHÿThRÿTgÿ9`eÿhTe`ÿ8RITV9R ÿ 8QV eÿ9VI@Y RÿTT`ÿsTIR8DÿsQ rÿTT`ÿsTIR8ÿQV ÿ9 eÿTT`ÿsTIR8HÿtT87T8Q`RÿPRQ YQ8`R8eÿ9eÿ9VÿqRUÿ T8ÿt9`rHÿPRÿITh7QVrÿ9eÿRaQ@YQ`9Vÿ8RQ@ÿRe`Q`Rÿ9Vÿ`PRÿpQePTRÿtTYV`rÿQ8RQÿgT8ÿQÿFDFFFÿeYQ8RÿgTT`ÿ 9e`89Y`9TVÿgQI9@9`rÿU9`Pÿ7@QVeÿ`Tÿe`Q8`ÿITVe`8YI`9TVÿrÿQVYQ8rÿEFEEHÿ ÿ TT`ÿsTIR8ÿU9@@ÿRÿI8RQ`9VÿBiÿTeÿrÿ`PRÿRV ÿTgÿEÿU9`PÿQVÿQaR8QRÿUQRÿTgÿEBHvÿ7R8ÿPTY8HÿtQ79`Q@ÿ 9VaRe`hRV`eÿQ8RÿRe`9hQ`R ÿ`TÿRÿEwDFFFDFFFÿQV ÿ9VI@Y ReÿQÿeYe`QV`9Q@ÿQhTYV`ÿTgÿUQ8RPTYeRÿPQV @9Vÿ RY97hRV`ÿQV ÿ9Vg8Qe`8YI`Y8RHÿ ÿ dveÿTgÿ`PRÿRh7@TrRRÿhR 9IQ@Dÿ RV`Q@DÿQV ÿa9e9TVÿRVRg9`eÿQ8RÿITaR8R ÿrÿTT`ÿsTIR8ÿQV ÿIThhRVIReÿTVÿ `PRÿg98e`ÿ QrÿTgÿ`PRÿhTV`PDÿQg`R8ÿEiÿ Qreÿg8Thÿ`PRÿ Q`RÿTgÿP98RHÿtTh7RVeQ`9TVÿ9VI@Y ReÿTaR8`9hRDÿ ff9IfuQIQ`9TVDÿhR89`ÿ9VI8RQeReDÿtfs6ÿQV ÿ8R`98RhRV`ÿ7@QVf78Tg9`ÿePQ89VfFBHÿ ÿ Wb6pqÿeY77T8`eÿ`P9eÿQ77@9IQ`9TVÿQeÿ`PRÿITh7QVrÿhRR`eÿ`UTÿTgÿ`PRÿ`P8RRÿ8RY98RhRV`eHÿTY8ÿ ITVe9 R8Q`9TVÿQV ÿeY77T8`ÿTgÿ`PRÿ9VIRV`9aRÿQ77@9IQ`9TVÿgT8ÿTT`ÿsTIR8ÿ9eÿQÿe9V9g9IQV`ÿgQI`T8ÿ9Vÿ`PR98ÿ 7RV 9Vÿ RI9e9TVÿ`TÿRX7QV ÿ9VÿVT8`PR8VÿqRaQ QÿQV ÿe7RQeÿgQaT8Q@rÿ`Tÿ`PRÿ`Q`RdeÿYe9VReegg89RV @rÿ RVa98TVhRV`Hÿ ÿ ÿ 9VIR8R@rDÿ ÿ ÿ ÿ `QVÿPThQeÿ Wb6pqDÿWXRIY`9aRÿu9IRg8Re9 RV`DÿSYe9VReeÿbRaR@T7hRV`ÿ
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