Tax Incentives Approved, iFLY Indoor Skydiving Expanding to El Paso
El Paso City Council approved a $162,863 incentive agreement with iFLY today (Tuesday, June 12) officially making El Paso one of its handful of worldwide locations.
The city agreed to give the indoor skydiving company an 80% retail sales tax rebate over 3 years as well as a one-time construction materials sales tax rebate and a rebate on certain building and planning fees. The incentives package is not to exceed $162,863.
In return, iFLY will invest more than $12 million and build the facility within the Montecillo community on North Mesa in West El Paso, across from Topgolf.
The possibility and impending deal was first reported by 93.1 KISS-FM last month. Bill Adams of Adams 1st Consultants confirmed exclusively to 93.1 KISS-FM in May that an El Paso iFLY location was being discussed with city officials. Adams said at the time the project was contingent on the city agreeing to incentives.
"Generally, when we put a facility in place it’s generally in a major metropolitan area, and [El Paso] is a major metropolitan area in the area, but it is quite small for us and it is a bit of a challenge. And although we do think we’re going to do better than break even this [tax incentives] does make a big difference."
Per its website, iFLY developed technology that simulates the free fall conditions of skydiving in an indoor flight chamber. Any would-be skydivers who haven't quite worked up the courage to jump out of an airplane could instead opt for this "incredibly realistic" closer to the ground alternative.
There are currently 37 world-wide locations, 32 of which are in the U.S. The El Paso facility will be it's 7th in Texas.