This is a request to enter into a Job Creation Agreement (JCA) with Schneider Electric IT Corporation (SEIT), a leading global electrical and industrial technology supplier and manufacturer of electrical components, that will generate new employment  opportunities and provide significant economic benefits to the City.

ADOPT RESOLUTION NO. 2025-2491 AUTHORIZING THE CITY MANAGER, OR DESIGNEE, TO EXECUTE A JOB CREATION AGREEMENT WITH SCHNEIDER ELECTRIC IT CORPORATION. (Darah Mann, Economic Development Deputy Director)

If approved, the JCA will be funded from the FY2030 Economic Development Opportunity Fund budget not to exceed $225,000. Plan review and permit fees will be reimbursed up to $138,725.

The city proposes to waive/reimburse 100% of all non-expedited plan review and permit fees up to $69,362.50 and 100% of expedited plan review fees up to $69,362.50 for a total not to exceed $138,725. Based on a third-party analysis, this amount will be offset by sales and property tax collections within the first year. The impact of direct taxes and fees paid to the city from this project is estimated to be $1.0 million over the next four years.

Schneider Electric IT Corporation is evaluating Goodyear to locate their advanced manufacturing company producing electrical components. Corporate headquarters for US operations is located in Boston, Massachusetts. See attachment B for an aerial map of the Goodyear location.

The company would be leasing approximately 300,000 square feet with a targeted operational date of September 2026. The location in Goodyear is 1655 S Bullard Ave., Prologis Goodyear Airpark Logistics building 3.

• Benefits to the community of project:
• Minimum CapEx $25M
• Maintain 325 employees
• Each qualified employment position (QEP) minimum base salary of $85,000
• Each QEP employed for a minimum of 12 months prior to the evaluation date
• Company must provide 65% of healthcare premiums
• Evaluated one time at 3 years from Certificate of Occupancy

Job Creation
The JCA contains a job hiring, training, relocation and related expenses reimbursement component in which the city agrees to pay the company $5,000 for up to 45 Qualified Employment Positions (QEP) hired before or after the effective date, with a maximum amount of $225,000. A QEP must meet specific qualifications, including a full-time base salary of at least $85,000 (not including overtime or bonuses), employment for a minimum of 12 months prior to the evaluation date, and company coverage of at least 65% of the healthcare premium costs. 

Third-Party Economic Analysis
A third-party economic analysis conducted by Applied Economics indicates that the proposed project is expected to generate the following economic benefits, based on the hiring of up to 350 employees and a minimum capital investment of $25.6 million.

The overall operational impact of the project could create an economic impact of $328.3 million over the next three (3) years. In addition, the construction impact could create a one-time economic impact of $31.4 million. The total economic impact will be approximately $359.7 million over the next three (3) years.

Staff is recommending the adoption of Resolution No. 2025-2491, included as attachment A, to authorize JCA for Schneider Electric IT Corporation.