The $100 million project is tied to the company’s 2023 announcement that it plans on investing more than $360 million in its new Fort Worth site.
The details
According to a filing with the Texas Department of Licensing and Regulation, the $100 million investment includes 232,000 square feet of space and the installation of a high bay racking/tote shuttle system and a conveyor/automation system.
The project is slated to begin in June and be completed spring 2027.
A closer look
According to city of Fort Worth documents, the 117-acre site, which is just east of Perot Field Fort Worth Alliance Airport, will be used for a regional headquarters and distribution center.
City documents state Fort Worth City Council approved an economic development program agreement with the company that includes an $18 million incentive package during their meeting Aug. 22, 2023.
City documents state the new regional headquarters and distribution center will create $56.8 million in new incremental property and sales tax revenue. A portion of those funds will be used for the $18 million incentive package.
The facility will create also $38.8 million in net new incremental property tax revenue over the 10-year period after the project is complete, according to city documents.
The backstory
McMaster-Carr was founded in 1901 and is based in Elmhurst, Illinois. According to its website, the privately held company specializes in supplying over 700,000 parts and supplies to industrial and commercial facilities worldwide. Ninety-eight percent of products ordered are shipped from stock on-hand and are delivered the same or next day.
According to city documents, the proposed Fort Worth regional headquarters will be added to existing regional headquarters for the company that are located in Atlanta, Chicago, Cleveland, Los Angeles and Robbinsville, New Jersey.
- Slated for completion March 2027
- 15333 Independence Parkway, Fort Worth
- www.mcmaster.com
