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Fort Worth Okays Tax Breaks to Attract Major Manufacturers
Two Fort Worth manufacturers have been granted a tax break by the city as an incentive to expand their operations in the region. The companies say their expansion plans will mean they’ll spend $1 billion combined in the city and create more than 1,000 new jobs.
The tax breaks are for electronics manufacturer Celestica and Lockheed Martin supplier Marand.
The Dallas Business Journal reports if the companies move forward with the expansions, they could create around 1,865 full-time jobs and invest a total of about $907 million.
Celestica, which handles design and manufacturing of complex electronics, is considering two sites in Hillwood’s AllianceTexas in far north Fort Worth. If the company chooses to fully invest at both sites, it would commit to a minimum capital investment of $876 million and 1,715 jobs by the end of 2029. If it performs, it will receive a 10-year tax abatement.
Council also approved a 10-year tax abatement for Marand US Holdings LLC, which already operates in southeast Fort Worth.
- ◦Policy/Gov't
