Gap Inc. took a key step this week as part of its plans to build an 850,000-square-foot e-commerce fulfillment and distribution center in Longview.
Gap closed Wednesday on the transfer of 142 acres in the North Longview Business Park from the Longview Economic Development Corp. That, in turn, triggered a $5.2 million payment from LEDCO to Gap as part of an incentive package local officials approved to help lure the company to Longview.
“The incentive payment was wired to them at closing,” said Wayne Mansfield, LEDCO’s president and chief executive officer.
Gap, however, must meet the goals of the performance agreement with LEDCO or it will be required to repay the cash and land value, he said.
LEDCO, the city of Longview and Gregg County approved a set of incentives to for Gap Inc. earlier this year that are tied to investment and employment.
Construction has started on the fulfillment center, which is estimated to cost about $140 million. The company must employ an average of 255 full-time employees in 2022 and increasing to 1,222 by 2026.
The construction project, though, is expected to generate more economic impact through workers staying in local hotels, eating out and shopping in Longview while building the fulfillment center.