The Amarillo City Council handed down the final approval last night for a $1.8 million incentive package between the Amarillo Economic Development Corporation and the Fairly Consulting Group.
Following a presentation from AEDC president Barry Albrecht, the City Council gave a 5-0 vote to approve the incentive deal with the Fairly Group. Councilmember Freda Powell made the motion to accept the deal, followed by a seconding motion from Councilmember Howard Smith.
Under the deal, the Fairly Group will receive $1.8 million in exchange for an agreement to create 100 new jobs and a payroll increase of $5,700,000 over the next 15 years. The AEDC board of directors gave approval to the deal earlier this month, marking the second successful incentive package approval during the young tenure of Albrecht. Albrecht was previously at the helm this year for a multi-million dollar deal with Maxor National Pharmacy Services Corp.
Alex Fairly, president of the Fairly Group, made headlines earlier this year, after helping to successfully broker a deal for a letter of intent from Elmore Sports Group to move a AA baseball team to Amarillo by 2019. Albrecht has denied that Fairly's involvement in the deal had any factor in the economic incentive package.
The Fairly Group was originally founded in Amarillo in 1916 as Ordway-Saunders Company and has since seen several transitions, eventually becoming the Fairly Group in 2016. The company reportedly serves clients in multiple fields including the oil & gas industries. The company claims to have customers in 100 countries.