Fort Worth is competing to land 100 new jobs near DFW airport that pay $70,000 or more
Fort Worth is competing with sites in four other states for a GE Aerospace facility that repairs and performs maintenance on airplane jet engines.
The city is considering an economic incentives package to offer GE Aerospace if it chooses to build at one of its existing sites, GE On Wing Support Inc., just south of DFW airport.
GE On Wing Support employs 65 people in Fort Worth. It dispatches 24-hour support for aircraft needing complex repairs that help avoid unscheduled removals of engines. The 84,344-square-foot facility is one of eight operated by GE Aerospace around the world. The only other site in the U.S. is in Cincinnati.
The proposed expansion would be on 3.25 acres adjacent to the current facility at 15225 FAA Blvd.
The City Council is expected to decide Aug. 13 on the incentives, a seven-year tax abatement agreement worth up to 60% of the incremental value of GE On Wing’s real and business personal property in Fort Worth. The city estimates that to be about $1.2 million.
Companies must fulfill their commitments to the city to receive full tax abatements. If GE On Wing accepts the incentive package, the company will commit to adding 100 new jobs with salaries of at least $70,000 by December 2026.
The company would also have to make a $50 million capital investment — $37.5 million on real property improvements by December 2026, and $12.5 million in business personal property by January 2027.
Fifteen percent of construction costs for improvements would go towards minority or women-owned firms.
Competing sites for the project are in Oklahoma, Tennessee, Ohio and Kansas.
