By Scott Nishimura snishimura@bizpress.net
Plaza Medical Center of Fort Worth plans $21 million in renovations and improvements, and is seeking state sales and use tax refunds on the project.
About $12 million would be for renovations and improvements to the Near Southside hospital, and the remainder for machinery and equipment, Robert Sturns, the city of Fort Worth’s business recruitment and retention manager, said. The project would likely result in a small number of new employees hired, he said.
Plaza Medical is asking the city to recommend it to the state by this year’s Dec. 1 deadline for consideration as a Texas Enterprise Zone project, eligible for refund of taxes of eligible expenses. The recommendation is a requirement for the state to consider Plaza.
The renovations won’t change the footprint of Plaza’s facility, Sturns said.
“They’re really doing internal improvements, updating the interior and improving the facility,” he said in an interview.
The state’s single project designation allows for a tax refund on qualified expenditures of $2,500 per job submitted with the project, capped at 500 jobs retained or created, with a maximum benefit of $1.25 million over a five-year period, the city staff told City Council members in a report Friday afternoon.
Plaza Medical will retain its workforce of 949 employees, the staff report said. It may create 10-15 new jobs with the project, Sturns said.
The City Council is scheduled to vote Nov. 18 on nominating Plaza Medical to the Texas Enterprise Zone program.
Plaza representatives did not immediately return messages for comment Friday afternoon.