Two international companies are considering nearly $1 billion in investment in Fort Worth that could add more than 1,800 jobs paying at least $75,000 annually.
At its Tuesday work session, Fort Worth City Council was briefed on two economic development agreements proposed for the companies — one focused on aerospace and defense, the other on electronics.
The larger project is from Toronto-based electronics manufacturer Celestica, said Cherie Gordon, economic development coordinator for the city of Fort Worth. The project would be larger than Bell’s 2024 announcement of a capital investment of $429 million resulting in 411 new jobs, she said.
“This project is a 40% larger capital investment and three times the jobs,” Gordon told council members.
Celestica plans a project establishing new facilities and operations for manufacturing advanced electronic equipment at two sites at AllianceTexas in far north Fort Worth.
A lease is in place for one site at Alliance Center North 4, and Fort Worth remains in active competition with other municipalities for an expanded project, according to a presentation made to city council. The other site would be at Alliance Center North 6.
“In a nutshell, we’re the rocket fuel for the current AI boom,” Alex Chang, a Celestica vice president, said during the work session.
Celestica proposes to develop the two sites for electronics manufacturing with a minimum capital investment of $876 million. The company expects the first site to have a minimum of 490 jobs by the end of 2028 and 1,225 jobs at the second site by the end of 2029. The jobs would carry a minimum salary of $75,000 annually.
The company would seek to have 30% of its real property improvements to the sites go to small businesses, according to the presentation.
The city’s economic development department proposed a 10-year tax agreement abating up to 80% on real and business personal property taxes totaling $41.7 million — if the company fulfills its requirements on salary, hiring and capital investment.
The second company looking at expanding in Fort Worth is Australian defense contractor Marand.
Marand repairs defense support equipment for Lockheed Martin and is looking at expanding operations to create a facility for aerospace manufacturing at the Campus Industrial Park, 2248 SE Loop 820.
The company has additional defense contracts and is proposing to expand its manufacturing operations from 15 employees to 150, according to the presentation.
Marand expects to make a minimum capital investment of $31 million by the end of 2026. Marand plans to add 40 jobs by the end of 2027, ramping up to 150 by the end of 2030. The minimum average annual salary would be $80,000. The company would agree to a goal of having small businesses be used for 30% of real property improvement costs.
The city is proposing a 10-year tax agreement to abate 50% of city real and business personal property taxes. The estimated incentive is valued at $934,000, according to the city.
Marand is owned by Australian-based private investment firm CPE Capital, which potentially has other businesses looking to expand in the U.S., Gordon said.
Celestica posted revenues of $12.4 billion in 2025 with much of the company’s growth coming from products designed for data centers.
Both companies say they face competition with Fort Worth for the two expansions.
The council will consider the proposal at its May 12 meeting.
Bob Francis is business editor at the Fort Worth Report. Contact him at bob.francis@fortworthreport.org.
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