Will Bell pick Fort Worth to build $632M factory? VIPs are making a ‘major’ announcement
Will Bell Textron choose Fort Worth to build a $632 million military aircraft factory with hundreds of new high-paying jobs?
City officials aren’t saying, but a slate of VIPs have scheduled a news conference for Tuesday, Dec. 17, to make a “major economic development announcement” on Bell’s Manufacturing Technology Center factory floor in Fort Worth.
Texas Gov. Greg Abbott is scheduled to appear. So is Bell’s CEO, Lisa Atherton, along with Fort Worth Mayor Mattie Parker and Robert Allen, the president and CEO of the Fort Worth Economic Development Partnership.
Denton County Judge Andy Eads is also attending; if Bell selects Fort Worth, the new factory would be at 15100 N. Beach St., which is in far north Fort Worth but within Denton County.
Bell, which is already based in Fort Worth and employs 4,000 people in the Metroplex, has been considering its hometown as well as two undisclosed locations in other states to build a new facility, which will manufacture parts for the Army’s next generation of assault aircraft. Bell won a multi-billion dollar defense contract to produce the V-280 Valor aircraft, replacing Black Hawks that have been in use since the late 1970s.
The V-280 Valor tiltrotor helicopter takes off like a chopper but can fly at speeds of 340 mph once in the air.
On Dec. 10, the Fort Worth City Council passed an economic incentives package for the project worth over $46 million. The city estimates the facility could create $16 million in new tax revenue over the next two decades.
If Bell chooses Fort Worth for its manufacturing facility, the company will need to make a $632 million capital investment in the property to receive city incentives. The company would also have to create a minimum of 520 full-time jobs with minimum average annual salaries of $85,000 at the site by the end of 2039.
The company also sought incentives from the state under the Jobs, Energy, Technology and Innovation Act.
In 2022, the U.S. Army awarded Bell the contract for what’s called the Future Long-Range Assault Aircraft program, or FLRAA. Bell’s contract was valued at an estimated $7.1 billion but could be worth much more over decades. Bell broke ground on a $20 million facility in Grand Prairie, where the FLRAA will be tested, in 2023.
Bell is a subsidiary of Textron Inc., a multi-industry company that includes other aviation businesses. With revenue of over $3.1 billion in 2023, Bell made up 23% of Textron’s revenue last year.
