The project is expected to bring about 570 jobs and $57 million in capital investment to the community.
The details
The state awarded a Texas Enterprise Fund grant of $3.718 million, per the release. Additionally, the city of Richardson awarded Collins Aerospace a local incentive package focused on job creation and capital investments of $1.8 million.
“The support from the state of Texas and the city of Richardson made the decision to expand our footprint an easy one,” Collins Aerospace Vice President Philippe Limondin said in the release. “The state’s commitment to aerospace and defense is key to our continued success.”
City Manager Don Magner said the city is strategically focused on attracting “high-wage, clean industries” such as aerospace, advanced manufacturing and technology in a separate news release issued by the city.
What else
Collins Aerospace will renovate and expand two existing facilities in Richardson. Per the release, the expansion strengthens the city’s targeted industry areas, which include:
- Advanced and additive manufacturing
- Professional and financial services
- Health and life sciences
- Technology and software
- Research and development
“These sectors reinforce our long-term economic resilience through both strong and weak business cycles,” Magner said in the release. “We’re proud Collins Aerospace continues to see Richardson as a place to call home.”
