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Kingman Council approves sales-tax rebate for Hobby Lobby after officials cite jobs and retail leakage
Summary
The City of Kingman authorized a site-specific economic development agreement with Hobby Lobby that provides a rebate equal to 30% of the city's 2.5% general-fund sales tax on Hobby Lobby sales, capped at $250,000 over up to 10 years; the deal includes job commitments and drew public opposition.
The Kingman City Council on Dec. 2 approved a site-specific economic development agreement that will rebate up to 30% of the city's 2.5% general-fund sales tax generated by a future Hobby Lobby store, with a maximum rebate of $250,000 over up to 10 years.
City Manager Walsh told council the rebate excludes construction and lease taxes and that the first payment begins two years after the agreement's effective date. Walsh said Hobby Lobby guaranteed at least 12 full-time jobs averaging $40,000 per year and 11 part-time positions, and…
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