The Fort Worth City Council has decided it is cheaper to keep a lucrative neighbor than to risk losing one. Yesterday, council members unanimously signed off on a tightly structured economic incentive to keep mining-technology firm Weir Minerals and its high-paying jobs planted in the heart of downtown.
What the package requires
Under the deal, the city will pay $185,000 while Weir Minerals invests roughly $3.4 million to expand and modernize its downtown office. In return, the company must keep at least 67 jobs in Fort Worth, each with a minimum annual salary of $160,000, and direct visiting business clients to downtown hotels for at least 260 room nights. The agreement includes clawback provisions that let the city recoup its payment if those…..