The Fort Worth City Council has approved an economic development agreement with Sinclair Digital, a startup that offers smart buildings technology. The agreement will enable a new corporate research and development and technology center to be built in downtown Fort Worth. Sinclair Digital, which produces lighting systems for use in hotels, will develop the center on the eighth floor of 515 Houston St. The tax incentives will allow for 30 to 40 new employees to be hired in the next few months. Within five years, the company expects to have 63 employees earning an average of $100,000. The new economic development agreement could help jump start growth in Fort Worth’s technology industry and create more high-paying jobs. The deal involves city grants of up to 35% of the company’s annual research and development costs, maxing out at $10 million. For Sinclair Digital to receive the full $10 million, it must create about $121 million in new property value.