Fort Worth could be the site of a manufacturing plant for a high-profile defense technology startup.\u00a0<\/p>\n
At a June 23 work session, Fort Worth City Council heard details on a potential economic development agreement with Mach Industries, a company that develops advanced unmanned aircraft systems.<\/p>\n
The company is currently evaluating locations for a manufacturing facility to produce its unmanned aerial vehicles. Alliance Gateway 34<\/a>, a 310,036-square-foot industrial building at Westport Parkway and Independence Parkway in Hillwood\u2019s AllianceTexas development in Fort Worth, is under consideration.\u00a0<\/p>\n According to the presentation from Jessica Rogers, head of the Fort Worth Economic Development Department, the company would make a minimum capital investment of $74 million, with $6 million of that in real property construction costs and the remaining in office and equipment. Mach Industries will have a goal of spending 30% of that office and equipment budget with small businesses.\u00a0<\/p>\n Council members are scheduled to vote on the project at their Aug. 10 meeting.<\/p>\n The economic development department proposed that the city consider offering a package of up to $4.5 million in tax breaks and grants over a 10-year period.\u00a0<\/p>\n The project would create \u201csignificant jobs,\u201d Rogers said.\u00a0<\/p>\n To receive the full incentive, the company would be required to hire a minimum of 1,000 workers with a minimum average annual salary of $67,470. The company also would need to maintain at least 600 jobs to receive any of the incentives on a prorated basis.\u00a0<\/p>\n If more than 50% of the jobs at the plant pay less than $60,000 at any point during the agreement, the company would not receive any incentives, Rogers said.\u00a0<\/p>\n As an aerospace and defense manufacturer, the company is one of the economic development department\u2019s target industries, Rogers told council members.\u00a0<\/p>\n \u201cThe project represents a large creation of skilled manufacturing and engineering positions,\u201d Rogers said. \u201cThis is also a growing company and a growing industry sector, where we\u2019re seeing a lot of innovative technologies and advanced manufacturing being integrated.\u201d\u00a0<\/p>\n Last year, Gov. Greg Abbott designated<\/a> Fort Worth as the aviation and defense capital of Texas. The area is home to more than 600 aerospace and defense-related companies, including major employers like Bell and Lockheed Martin.<\/p>\n Rogers said Fort Worth is competing with several sites across the state and nation for the Mach Industries plant. The city and the company have been in discussions since November, she said.\u00a0<\/p>\n \u201cThe company has indicated that our ability to offer incentives and demonstrate local support has made Fort Worth the preferred location,\u201d she said.\u00a0<\/p>\n Mach Industries expects to make its final decision on the location in the third quarter, Rogers said.\u00a0<\/p>\n Based in Huntington Beach, California, the company has had a trajectory as rapid as its vertical lift aircraft. It was founded in 2023 by then-19-year-old Ethan Thornton after he dropped out of MIT. Earlier this year, it raised $300 million in series C funding, giving it a $1.8 billion valuation.\u00a0<\/p>\n Mach Industries\u2019 products include Viper, a jet-powered vertical lift vehicle; Stratos, an airborne surveillance system; and Dart, a counter drone interceptor. The company has received several U.S. Department of Defense contracts. On June 16, Mach Industries received a contract from the U.S. Navy as part of a project to develop an innovative long-range strike drone.\u00a0<\/p>\n