A company that manufactures equipment used to cool data centers is considering Fort Worth for a new plant that would bring nearly $80 million in investment and more than 1,400 new jobs.
If it selects Fort Worth, Jacksonville, Florida-based Stellar Energy Americas plans to manufacture the equipment at a 1.1 million-square-foot industrial site at 15060 Blue Mound Road in the AllianceTexas development.
The Fort Worth Economic Development Department is recommending the city provide incentives for the project, including a 10-year tax abatement on 60% of real and personal property taxes, contingent on the company meeting investment and job creation targets. The incentives are valued at $2.1 million with the payback on that coming by at least year six of the agreement, according to a presentation to City Council.
“The project is strongly aligned with our strategy of strong employment growth and our energy target industry,” Cherie Gordon, economic development coordinator for the city, said to City Council members on Jan. 27.
The proposed facility would manufacture modular cooling equipment for the domestic data center market.
According to the presentation to council, it would make a minimum capital investment of $79.5 million by the end of 2026. That would be split between $34 million in real property construction costs and $45.5 million in business personal property costs.
The presentation noted the company will create a minimum of 1,420 full-time jobs with a minimum average annual salary of $78,000 during the first full operating year at the end of 2027. Small business firms would receive 30% of real property improvements, such as office equipment and other items.
The city is competing with other sites in Dallas and Phoenix for the project, Gordon said.
If the company comes to Fort Worth, it plans to operate out of Alliance Westport 24, a spec building from Hillwood. That building is next to the 1.2 million-square-foot location of Southwire, a Georgia-based cable and wire company.
Fort Worth City Council will consider the agreement at its Feb. 10 meeting.
Alliance Westport 24 is located in Denton County so, pending approval of incentives by the Fort Worth City Council, Denton County commissioners would consider a tax abatement at their Feb. 24 meeting.
If the company locates at AllianceTexas, it won’t be the only manufacturer to serve the data center market. Last August, Taiwan-based Wistron announced it plans to establish two AI supercomputer manufacturing facilities in Fort Worth’s Alliance development, investing $761 million and creating more than 800 jobs.
Fort Worth city officials and Denton County commissioners approved tax abatements for the two plants in that project as well.
The state’s relatively cheap energy market, land and business-friendly policies have helped the state become a leader in the data center market. Last year, data centers and related industry accounted for 21% of all new demand among warehouse properties, according to a report from Cushman & Wakefield.
Bob Francis is business editor for the Fort Worth Report. Contact him at bob.francis@fortworthreport.org.
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