Monday, August 14, 2006
Cabela's Messes With Texas
www.news8austin.com
Cabela's forced to give state money back
8/14/2006 12:42:16 PM
By: News 8 Austin Staff
Buda's mega-sporting goods store has come up short when it comes to meeting hiring targets.
Cabela’s opened in 2004 with the understanding it would create 400 jobs.
Buda's mayor created a tax-increment finance district around the site and the Texas Enterprise Fund kicked in $600,000 toward the project.
Since Cabela's only filled 314 jobs, the company has been forced to return $28,000 to the state and forfeit the remaining $200,000 promised from the Texas Enterprise Fund.
Cabela's is the first business to have to return money to the Texas Enterprise Fund. The fund was created in 2003 to lure businesses planning to expand in Texas or move here.
