Local · Trusted · Free
The Morning Impact — your neighborhood's most important stories, delivered every morning.
Stellar Energy Americas will bring a new manufacturing facility to Fort Worth.
The Fort Worth City Council approved a 10-year tax abatement reinvestment zone for a location at 15060 Blue Mound Road.
The details
Council reviewed the request at a Jan. 27 work session and approved it at the Feb. 10 meeting.
The proposed facility would produce modular cooling equipment for the domestic hyperscale data center market and would be located at Westport 24 in the AllianceTexas development, according to documents.
According to a city news release, Stella Energy provides innovative solutions to accelerate the energy transition for the future, offering customers tailored solutions that provide more dispatchable power, increased liquefied natural gas production and greater data center efficiency at lower costs with lower emissions.
The Stellar Energy website states that it provides cooling systems designed for hyperscale AI transformation.
The Jacksonville, Florida-based company committed to investing $79.5 million in the Alliance area by Dec. 31, including $34 million in real property construction costs and $45.5 million in business personal property costs, Economic Development Coordinator Cherie Gordon said during the work session.
By the numbers
Stellar Energy must provide 1,420 full-time jobs by the end of Dec. 31, 2027, with a minimum average salary of $78,000. That would be $114 million in payroll, according to a city presentation.
Gordon said the jobs are a mix of line workers, engineers and professional positions, with 30% of these jobs to be prioritized for Fort Worth residents, according to the presentation.
Additionally, 30% of real property improvements that includes both hard and soft costs would be committed to small business firms.
The city would abate up to 60% of both real property and business personal property taxes, subject to the commitments listed above in terms of jobs, pay and investment. Gordon said the net new taxes would be $1.9 million out of a possible $4.7 million over the 10-year window.
If the criteria is not met, there will be a forfeiture of the abatement, according to city documents.
What else?
Stellar Energy Americas has locations in Dallas and Phoenix, according to the presentation.
The company was formally acquired by Trane Technologies on Feb. 18, according to a news release. The transaction was first announced on Dec. 2.
