The two areas, at 15200 Heritage Parkway and 14601 Mobility Way, would be used for electronic manufacturing. Each location would receive a 10-year tax abatement as part of the agreement if it picks Fort Worth, according to city documents. Council passed the measure during the June 24 meeting.
Wistron InfoComm Corporation is a wholly owned subsidiary of Wistron Corporation, a Taiwanese company specializing in manufacturing and designing electronics.
Wistron announced in April it has plans to invest $45 million in Wistron InfoComm and plans to acquire land and facilities up to $50 million in the United States.
Zooming in
According to city documents, the plan would be a building of at least 324,400 square feet at 15200 Heritage Parkway, which is referred to as Site 1, and a 766,994 square foot building at 14601 Mobility Way at Site 2. Both locations are in Fort Worth Council District 10.
On Project Site 1, the company must spend a minimum of $80 million in real property improvements on or before June 30, 2026, with a minimum taxable appraised value of $411 million by Jan. 1, 2027.
A 12-month extension could be permitted, but if the timeline is not met, the abatement would be forfeited, according to documents.
At Project Site 1, the company must provide 634 jobs with an average salary of $63,000 on or before Dec. 31, 2026.
The setup
Similar requirements are in place for Project Site 2. According to city documents, Wistron must spend $32 million on total construction by June 30, 2026, and have a minimum taxable appraised value of $164 million by Jan. 1, 2027. As with Site 1, a 12-month extension is in place, but if the timeline is not met, the abatement would be forfeited as well.
This location would have to have a minimum of 254 full-time jobs with an average salary of at least $63,000 by Dec. 31, 2026.
What else?
As part of the abatement, Site 1 would equal up to 70%, and Site 2 would have an abatement equal to 50% for abatement for real property and business personal property taxes if the company decides to locate in Fort Worth, according to city documents.
If the company comes to Fort Worth and meets the completion deadline, the tax abatement would rise to 80% and 60%, respectively.
The two projects will result in an estimated $41.39 million in new incremental property tax to the city, but with the abatement, the city would receive $10.64 million in new taxes over the 10 years following the project completion, according to city documents.
