Washington, D.C. — Bain Capital’s new investment in Denton County is expected to create more than 1,000 new jobs and will generate more than $300m in tax revenue, according to a news release from the state’s labor department.
“We have seen an increase in employment and we’re really excited about it,” said Michael C. Breen, Denton Labor Commissioner.
“The new investment has created a tremendous amount of good-paying jobs, which will be reinvested in the community.”
Breen said the county has also received over $2m in state funds, with about half of that from the federal Department of Labor and the remainder from the Denton City Council.
Denton is one of the largest employers in the state, employing more than 2,000 people and generating over $1.6bn in revenue each year.
In January, the county became the second in the U.S. to receive the UBI in a deal worth up to $3,000 per person.
“The county is a great example of how a strong community can thrive when everyone contributes, and that’s exactly what we are seeing with the investments that Bain Capital has made in Darenes County,” said Daren Harris, President and CEO of the Darens County Chamber of Commerce.
The Daren City Council and Labor Department have approved a total of $15.8m in additional tax revenue from the investment, which includes additional investments in the Densons city, county, county-owned and county-managed parks, parks and recreation facilities, a local public library, a new school and community center, and a new business incubator and workforce development center.
The $15m is part of a larger $35m investment Bain Capital made in the county in 2017, and the $3m from the UBS Investment Bank in 2019.
In March, the Darnes County Board of Supervisors approved $4m in grants for businesses and non-profits, and $5m to help local businesses hire.
The council also approved $2.3m in federal aid for businesses.
Bain Capital’s investment will also create about 15 jobs, according the Dannes County Office of Economic Development.
Bresler & Schreiber, the local real estate investment firm, will provide more than a dozen offices and training centers, with additional offices in the coming months.