Six Flags, already closely associated with the City of Arlington, could strengthen those ties even more.
Six Flags Entertainment Corp., currently based in nearby Grand Prairie, could move into the soon-to-be-vacant Globe Life Park, according to a plan approved by the Arlington City Council on Tuesday.
The city will reimburse the company up to $6 million to make renovations to the space currently occupied by the Texas Rangers team offices,
Six Flags would occupy the 40,842 square feet of office space presently occupied by the Texas Rangers in the Centerfield Office Building. The Rangers plan to relocate their corporate headquarters to the new Globe Life Field prior to opening day in March of 2020.
According to a city report, “Six Flags has performed a thorough analysis of the Ballpark office space and determined that the space must be comprehensively renovated and updated to accommodate their business needs and the anticipated functions associated with their world headquarters.” Six Flags would lease the office space from the Rangers for 15 years, with the option of two 5-year extensions to the lease term. During the lease term, they would maintain a minimum of 120 full—time employees at the headquarters.
“Subsequent to the office space lease, the Rangers are expected to renew their existing lease of the Ballpark facility for an additional eleven years to mirror the Six Flags lease term,” according to the city documents.
The city said most of the $6 million, about $5.2 million, would come from payments still owed the city from the Rangers with the rest of the funds coming from the city’s budget.
According to the city staff’s report, last year, Six Flags recorded 32 million guests and had over $1.5 billion in revenue from their 26 parks worldwide. The company employs over 50,000 total employees, with 2,100 of them full-time. The city staff report said an economic impact analysis conducted by Impact Data Source projects over $80 million in taxable sales and purchases and the retention/creation of 176 direct and indirect jobs with a $331 million estimated payroll during the term of the agreement.