DENTON, Texas — In a move set to reshape Denton’s economic landscape, two major companies have announced plans to invest a combined $49.4 million in the city, a commitment that could bring more than 200 new jobs to the area.
At the center of the plan is U.S. Cold Storage, a New Jersey-based company that distributes refrigerated goods for clients like Kraft and Butterball. The company plans to expand its existing facility on Jim Christal Road by 100,000 square feet, bringing its total investment in the area to $34.9 million. According to city records, the expansion would create 172 new jobs, with average salaries of just over $57,000.
Denton officials are offering significant incentives to make that happen: a property tax abatement of 60 percent over eight years, and a sales tax rebate on construction materials, for a combined value of $1.07 million. In return, the city expects $1.4 million in new revenue, along with additional gains for Denton County and the local school district…