Last fall, Ericsson announced it would transform an existing 300,000-square-foot facility at 2601 S. Valley Pkwy, Lewisville, into a state-of-the-art factory that will produce advanced antenna system radios to enable 5G deployment and increase network capacity and coverage in the U.S.
Jason Moore, Lewisville’s director of economic development, stated in a city memo that Ericsson will invest an estimated $64 million into renovations for the factory, upgrades to building utilities and infrastructure, construction of office space and employee amenities, and investments in innovative technologies to make the facility energy efficient.
Moore also stated that Ericsson is set to employ 400 full-time employees at the factory over a four-year period, with an annual total payroll of $28 million.
In exchange for Ericsson’s investments, City Council voted to give the company three economic incentives, including an annual grant based on 75% of the business personal property taxes paid to the city for 10 years, which is estimated to total $200,000 to $300,000 per year.
The agreement states the city will also give Ericsson a one-time grant equal to 75% of all building permit fees paid, which is estimated to cost $225,000. In addition, Ericsson will also receive a one-time sales tax construction grant for an estimated $200,000.