A high-tech electronics company could be relocating to Fort Worth, creating nearly 300 high-paying jobs.
Adom Industries, a microelectronics startup, is considering building a headquarters in Fort Worth. An economic incentives package for the project was presented to the City Council on Tuesday.
The proposed headquarters would be built in four phases and consist of an electronics prototyping lab, electronics workbench and semiconductor fab for cloud users. The initial phase would be located at Adom’s office at 4400 Alliance Gateway Freeway in far north Fort Worth. The three additional phases would be required to be built in Fort Worth.
To receive city incentives, Adom would be required to invest at least $229.25 million in the project and meet completion deadlines for each phase. The company is also seeking $20 million from the Texas Semiconductor Investment Fund and $10 million from the National Science Foundation.
The headquarters would add a minimum 267 jobs with average annual salaries of $91,000. The company’s minimum research and development expenditures for a 15-year period would be $243.75 million.
If the incentives package is approved by the city, Adom could receive grants up to $15 million. The Fort Worth council will vote on the package on Aug. 12.
The project could inject significant research and development funding into the region, sparking additional job creation and drawing highly-skilled workers to the city. The city’s economic development department says that the Adom headquarters “would represent Fort Worth’s most significant semiconductor-related project to-date.”
North Texas’ high-tech manufacturing sector is growing fast. Tech giant Apple is partnering with MP Materials to “significantly expand” rare earth magnet production at the mining company’s Fort Worth facility. Wistron Corporation, a Taiwan-based electronics maker, plans to invest $687 million in building two support facilities for supercomputer manufacturing in far north Fort Worth, near the Alliance development. Siemens opened a $190 million facility that makes switchboards for data centers in March.