The city of Fort Worth is expanding its technology manufacturing sector, welcoming an oversees company building its first plant within the city’s limits.
Both Denton County and Fort Worth approved tax abatements to enable development on the plant. In total, the company plans to invest $687 million to build the manufacturing plant, consisting of two electronics facilities in Fort Worth Council District 10.
The federal government has been pushing to bring manufacturing back to the domestic center, promoting projects that build semiconductor manufacturing and research on American soil. The feds created the CHIPS and Science Act (CHIPS) in 2022 to support these endeavors and mitigate reliance on foreign chip production.
Building on this effort, the company’s plans to invest in Fort Worth to strengthen Texas’ semiconductor supply chain and dramatically bolster the county’s economic standing. The Tax Abatement Agreement with the company will span a decade but will only apply if both sites are constructed. The company must further qualify for tax abatements by spending at least $80 million in real estate property improvements for Site One by June 30, 2026, and $32 million on construction for Site Two by Dec. 31, 2026.
According to city documents, Fort Worth will receive $10.6 million in new taxes over the 10-year period after the projects are completed. Site One will receive a 40% abatement capped at $3 million, and Site Two will receive a 30% abatement capped at $900,000 over eight years. Completion of both sites will then raise each percentage by an additional 10% with a combined $5 million cap.
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