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Sep 21, 2020 · Context

AEDC board approves MWI jobs incentive and up to $1,040,000 in construction on an AEDC-owned building

The board approved an additional location incentive agreement with MWI (formerly MicroBeef): $15,000 per job for 50 new jobs at a $65,000 salary, paid annually over 10 years. It also approved a restated 10-year lease (with two five-year options) of an AEDC-owned building, allowing up to $1,040,000 for a 6,000-square-foot addition and 5,000 square feet of mezzanine, amortized at 2% over 15 years and added to the lease payment. Staff reported construction complete in July 2021, with MWI leasing the new building from the AEDC.^[1]^[2]^[3]

Kevin Carter Doug Nelson Laura Street Amarillo Economic Development Corporation (AEDC)

What the sources say

✓ Verified
The minutes state 'the new lease payment will be $42,886' without giving the period it covers. Director Street moved and Director Heinrich seconded the incentive agreement; Vice-Chairman Bentley moved and Director Street seconded the restated lease; both were approved. The January 31, 2025 project report lists the MWI Veterinary Supply job creation incentive at $750,000 with $67,500 paid in prior years.^[1]^[3]
Construction allowance
$1,040,000
Incentive
$750,000

Sources

1.Amarillo Economic Development Corporation Board of Directors minutes, September 21, 2020 — Amarillo Economic Development Corporation (via City of Amarillo CivicClerk), Oct 20, 2020 · retrieved Oct 22, 2026primarySubject-authoredScanned minutes (OCR); figures checked against the page images. 'published' is the date the board approved these minutes, as recorded in the minutes of that later meeting.
2.Amarillo Economic Development Corporation Board of Directors minutes, August 23, 2021 — Amarillo Economic Development Corporation (via City of Amarillo CivicClerk), Sep 20, 2021 · retrieved Oct 22, 2026primarySubject-authoredScanned minutes (OCR); figures checked against the page images. 'published' is the date the board approved these minutes, as recorded in the minutes of that later meeting.
3.Amarillo Economic Development Corporation Managerial Report, for the four months ended January 31, 2025 — Amarillo Economic Development Corporation, Jan 31, 2025 · retrieved Oct 14, 2026primarySubject-authoredUnaudited; marked 'Restricted for management only, notes are not presented'. 'Cumulative Project Status Report' through January 31, 2025 on page 6. 'published' set to the report period end; the file was uploaded to the AEDC site in December 2025.