These companies want to add over 330 jobs in Fort Worth. Here’s how much they’ll pay
Two companies are looking to spend tens of millions of dollars on new operations in Fort Worth, creating at least 335 jobs.
Both companies are seeking economic incentives from the city in exchange for their investments, which could generate millions in new tax revenue for Fort Worth.
The largest company is Brazilian aerospace manufacturer Embraer, which has plans to build a new maintenance and repair facility near Perot Field Fort Worth Alliance Airport. Embraer is one of the world’s largest commercial jet manufacturers.
The facility would add at least 250 full-time jobs with average annual salaries of $67,000.
Under the proposed incentives package, Embraer would commit to making a $57 million capital investment, with 15% of construction costs going to minority or women-owned businesses. Embraer would also have to add a minimum 100 jobs by the end of 2026, with the remaining 150 jobs added by Dec. 31, 2029.
The facility would add an estimated over $1.2 million in new tax revenue.
Embraer has about 18,000 employees and expects to see revenue of $6 billion to $6.4 billion in 2024. The company’s U.S. locations include Nashville; Mesa, Arizona, and Fort Lauderdale, Melbourne and Jacksonville, Florida.
Cold storage gains ground
The other company is Americold, which is planning to expand its over 88,000-square-foot facility at 4900 Blue Mound Road.
The Atlanta-based cold storage company already has four locations in Fort Worth, as well as facilities in Dallas, Grand Prairie and Mansfield.
To receive incentives, the company must add 85 full-time jobs with average minimum annual salaries of $65,000 by the end of 2025. Americold would also commit to making a minimum capital investment of $123 million.
The city estimates the project could create roughly $2.5 million of new tax revenue.
Cold storage facilities are used by a variety of industries, including pharmaceutical companies, grocers and art conservationists.
Both proposals for incentives are scheduled for a vote by the City Council on Oct. 15. The incentives being considered are seven-year tax abatements on up to half the incremental value of real and business personal property taxes for both projects.
This story was originally published September 24, 2024 at 1:24 PM.
