Development booming in north Fort Worth
Fort Worth has won a new Stanley Black & Decker manufacturing facility that is expected to bring 500 new full-time jobs to the area, the company announced Wednesday.
The groundbreaking for the 425,000-square-foot facility in the AllianceTexas industrial space in far north Fort Worth will take place this summer. The plant is expected to be completed in late 2020, according to the announcement from Stanley Black & Decker.
The plant is in addition to a regional distribution center of about 1 million square feet Stanley Black & Decker will open in Northlake, which is expected to bring more than 300 new jobs.
“The addition of Stanley Black & Decker’s manufacturing operations at AllianceTexas reinforces the importance of retaining and creating new job opportunities in the United States,” said Ross Perot Jr., chairman of The Perot Group and Hillwood, developer of AllianceTexas. “Stanley Black & Decker is the world’s largest supplier of tools and storage products, and its commitment to bringing jobs stateside will help set a precedent for other manufacturing companies. The state-of-the-art manufacturing facility at AllianceTexas will help generate hundreds of jobs in Fort Worth and North Texas, which will have a lasting impact on the region.”
Stanley Black & Decker was considering a site in Ohio, but Fort Worth was able to offer a 40 percent tax abatement for the $50 million project, which will be just east of Interstate 35 W at Eagle Parkway and North Beach Street, according to Fort Worth city officials.
The tax abatement is scheduled to last for five years and apply to real and business personal property taxes that could equal $80 million. City officials are expecting to see gains equal to or exceeding the amount of the abatement in less than two years, according to a presentation to city council members. The language for the abatement is being finalized by the city’s legal department.
The new plant in Fort Worth will manufacture a wide range of Craftsman mechanics tools and will also leverage some of the most advanced manufacturing technologies available to increase productivity and sustainability, including processes to improve material yield by almost 25 percent as well as water and energy management technologies to reduce resource consumption, the company said.
“When we purchased Craftsman in 2017, we were determined to revitalize this iconic U.S. brand and bring back its American manufacturing heritage,” said Jim Loree, Stanley Black & Decker president and chief operating officer. “From the launch of Craftsman’s refreshed brand identity last year to our announcement of the first new manufacturing facility in many years, we’re demonstrating our continued commitment to grow the brand and bring even more production of these great products back to the United States.”
The year after Stanley Black & Decker purchased Craftsman, Craftsman unveiled more than 1,200 new products. The brand is now on pace to reach $1 billion in incremental revenues by 2021, the company said.
“This new plant will also be the latest in our network of manufacturing facilities — one that uses state-of-the-art manufacturing technologies and demonstrates our commitment to becoming one of the world’s leaders in advanced manufacturing,” Loree said.
Stanley Black & Decker operates about 30 manufacturing facilities in the United States, with more than 100 manufacturing facilities worldwide.
The addition of the Craftsman brand offered Stanley Black & Decker an opportunity to expand its manufacturing and distribute a wider range of tools and products, create efficiencies and deliver value to its clients, according to Abigail Dreher, Stanley Black & Decker spokeswoman. This projected growth across multiple product lines prompted the company to evaluate its long-term location strategy, Dreher said in an emailed statement.
Stanley Black & Decker has had a good experience at its existing manufacturing facility in Farmers Branch, where it manufactures products for some of the other brands in the Stanley Black & Decker Global Tools & Storage portfolios, Dreher said. So, we know Texas well, Dreher said.
“Over the last 18 months, we diligently worked to identify potential locations for the new operations,” she said. “We evaluated many factors: cost, quality of the required labor force, with emphasis on forging. We determined the Dallas/Fort Worth region had the largest pool of skilled workers. “
The facility is the focal point of the company’s global Industry 4.0 “smart factory” initiative, housing a team of about 50 Industry 4.0 experts focused on accelerating the company’s adoption of advanced manufacturing technologies and programs to help prepare the company’s workforce for a digital-led manufacturing environment.
The company has five locations that have started implementing advanced Industry 4.0 technologies across their facilities, from manufacturing execution systems, to 3-D printing, virtual reality and artificial intelligence. Many of those technologies, including robotic automation, will be incorporated in this new facility, Dreher said.
Last month, Stanley Black & Decker also opened a new 23,000-square-foot Advanced Manufacturing Center of Excellence, called “Manufactory 4.0”, in Hartford, Connecticut.