The details
According to a news release, the main products to be manufactured at the facility are low-voltage switchgear and switchboards, two items that are increasingly in demand in the global economy.
Some important numbers cited in the news release include:
- U.S. investment picture: The project represents approximately 30% of Siemens’ $500 million infrastructure manufacturing investment in the U.S. in 2023.
- Investment in Fort Worth: The project includes $70 million in real property improvements to be completed by December 2024. An additional $55 million in business personal property will be in place by January 2025.
- Job creation: The project will create over 700 jobs with an average annual salary of more than $63,000.
The news release stated the new manufacturing plant in Fort Worth builds on Siemens' presence in Dallas-Fort Worth. The company has two other manufacturing plants—one in Grand Prairie and one in Carrollton—that manufacture critical electrical components, such as circuit breakers and electric vehicle chargers.
According to city of Fort Worth documents, city officials created a tax abatement reinvestment zone on Sept. 12 that will give the company 10 years worth of tax abatements on the project. The news release stated final tax incentives for the project are scheduled to go before the Tarrant County Commissioners Court during its regular meeting Nov. 7.
What they’re saying
“In the last decade, digital technologies transformed our personal lives and the consumer world. This investment tells us that this is the moment for industry and infrastructure, as the backbone of America’s economy is brought online and billions of things are connected,” Siemens USA CEO Barbara Humpton said.
“Fort Worth is excited to have Siemens invest in a state-of-the-art facility here as part of the company’s growing presence across our region,” Fort Worth Mayor Mattie Parker said. “Siemens is not only an excellent fit for Fort Worth’s expanding ecosystem of innovative and technology-forward businesses, but the company will also create hundreds of exactly the kinds of high-quality career opportunities residents are looking for to thrive in our city.”
- Production estimated to begin in 2024
- 7200 Harris Legacy Drive in Fort Worth
- www.siemens.com
