Novartis AG’s (NYSE:NVS) recently acquired Alcon Inc. (NYSE:ACL) is wooing Fort Worth, Texas, legislators with promises of 750 new jobs with an average of $90,000 salary if the city can grant it an 80 percent break on its property taxes and waive some additional fees.
Alcon asked city officials to label its operations campus a "reinvestment zone" to grant it a 10 year property tax break worth about $490,000.
In addition to new jobs, the company promised to invest $11 million in the expansion, the Star-Telegram reported.
Alcon, which was acquired by Novartis in Dec. 2010, promised to add 400 jobs in the area by Dec. 31, 2013, and another 350 jobs by the end of 2018. It will spend at least $1 million on local construction companies and another $1 million on businesses owned by women or minorities, according to the terms of the agreement.