Albuquerque-Metro

City council outlines financial incentives to lure Topgolf to Albuquerque

ALBUQUERQUE, N.M. (KRQE) - City Councilors introduced a financing plan they hope helps lure Topgolf to Albuquerque.

Some of that plan includes incentives for the company.

"Some and most cities offer incentives to Topgolf when they go into their cities," City Councilor Ken Sanchez said. "Topgolf is thriving across America and we hope that one day soon we will see it here in Albuquerque."

There is already a website that showcases Topgolf Albuquerque. The estimated $38.8 million project will go up just off I-25 and Montano, and the word is already spreading around town.

"I've heard that they're going where the old water park was," Paul McKay said. 

The piece of land has been vacant for more than a decade The company, which has more than 40 other locations around the country and is valued at more than $2 billion, wants incentives to come here.

Topgolf is asking the city to kick in around $2.3 million in tax refunds and grants to make the deal happen.

"In increments, they will get, only if they produce the goods, that will be $1.8 million and $500,000 (LEDA) Local Economic Development Act) funds," Sanchez said.

The city hopes Topgolf will bring 350 new jobs with it and serve 450,000 guests a year, while generating approximately $15 million in annual sales to make up for the incentives.

"The money we will be making will be probably $5 million in property taxes plus $5 million in additional gross receipts taxes," Sanchez said.

The company would like to be up and running in Albuquerque by next spring.
 


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