Siemens to invest $150M in Fort Worth, creating 700+ jobs with $63,000 average salary
Industrial manufacturing giant Siemens is officially investing $150 million in North Texas.
This fall, the Fort Worth City Council approved a $6 million tax abatement for Siemens to open an advanced manufacturing plant in Fort Worth.
The Munich, Germany-based company confirmed its plans Friday morning. The new Siemens plant at 7200 Harris Legacy Drive will focus on the production of low-voltage switchboards and switchgear. The facility will help power American data centers and critical infrastructure and produce electrical equipment, the company said. Including Fort Worth, Siemens will invest more than $500 million in U.S. manufacturing for critical infrastructure this year.
City incentive documents in August said the company will invest at least $70 million in building by the end of 2024 and $63 million in equipment by January 2025.
But today, the company says its investing a total of $150 million in the facility.
“The tax abatement process was conducted several months prior to this date and was outline as a minimum investment amount. As cost structures have developed, the investment amount we’re talking about tomorrow reflects that,” the company said in a statement issued to the Star-Telegram.
The company will create up to 715 full-time jobs by the end of 2026, with nearly one-quarter of jobs coming to Fort Worth by the end of 2024. The jobs will pay an average salary of $63,000, according to city incentive records.
“There’s never been a better time to invest in critical electrical infrastructure and green mobility to support the backbone of America’s economy,” said Roland Busch, president and CEO of Siemens AG, in a release. “The hardware and software we offer – produced through our expanded U.S. manufacturing presence – will ensure that growing industries can meet demand while continuing to make progress in decarbonizing operations.”
Busch, as well as Barbara Humpton, CEO of Siemens USA, are in Fort Worth on Friday morning for the announcement at the plant site. Also expected to attend are representatives of Gov. Greg Abbott’s office and a U.S. Department of Commerce executive.
This summer, Siemens announced it would invest €2 billion — or $2.12 billion — in education centers, innovation labs and high-tech factories across the world, including facilities in the U.S., Europe, China and Southeast Asia.
“With this latest step, Siemens is delivering on its €2 billion global investment strategy for 2023 to boost growth, innovation and resilience,” Busch said in a release.
