A national company is expanding its Tucson footprint with plans to add about three dozen jobs with an average annual salary of $143,000 each.
Dubbed “Project Treasure” in filings with the city, the unnamed company is described as “professional and scientific services” with more than 300 local employees currently.
As part of the project, the company is preparing to invest more than $29 million to build a 110,000- to 125,000-square- foot, three- or four-story development at the Williams Centre, near Broadway and Craycroft Road, according to a memo to the Tucson City Council.
The City Council recently approved the company’s request for incentives.
City and economic-development officials said they are under a nondisclosure agreement and could not share any information about the company.
A project assessment prepared for Sun Corridor Inc. and filed with the city shows that from 2019 to 2023, this company’s economic impact is projected at more than $1 billion. That figure includes jobs, payroll, tax revenues and secondary impacts at local businesses.
The new facility will allow Project Treasure to increase employment “in the areas of electrical engineering, financial managers, electrical and electronics technicians, general administration and operations managers, and financial specialists,” the memo says.
Companies qualify for the city’s Primary Jobs Incentive if they meet the following criteria:
- Invest a minimum of $5 million in facilities or equipment.
- Create 25 jobs that pay wages of at least $52,400.
- Cover at least 75 percent of employee health insurance premiums.
In this case, the incentives for the unnamed company include reimbursement of building-permit fees, valued at approximately $81,000, and offsets to impact fees for the project or job training, which in this case are estimated to be $338,364.
Reimbursement by the city is contingent upon Project Treasure meeting its employment projections of 35 jobs within five years from the execution of the development agreement.
“For example, if seven new jobs are created then 20 percent of the impact fees and/or job training will be reimbursed,” the memo says.
The proposed construction site is an 8.2-acre parcel — the last vacant spot in Williams Centre.
Pima County assessor’s records show the land is owned by two Scottsdale-based limited-liability corporations.
