Clients would include major names in the electronics and semiconductor industry, Michael Hennig, economic development manager for the city of Fort Worth, told council members during an Aug. 5 meeting.\u00a0<\/p>\n
The council also nominated two companies as Texas Enterprise Zone<\/a> projects, qualifying them for tax incentives from the state. The program is administered by the Texas Economic Development & Tourism<\/a> office.\u00a0<\/p>\n The companies are eye care products company Alcon Laboratories<\/a> and Southland Industries, a mechanical, electrical and plumbing building systems provider.\u00a0<\/p>\n The Texas Enterprise Zone program is an economic development tool for local communities to partner with the state to promote job creation and capital investment in economically distressed areas of Texas.<\/p>\n The two nominations were passed unanimously as part of the City Council\u2019s consent agenda.\u00a0<\/p>\n Alcon is planning $40 million in facility improvements at its 6201 S. Freeway building, including mechanical, electrical and plumbing upgrades.\u00a0<\/p>\n As part of the project, Alcon will retain 1,540 current employees, with an average annual salary of about $130,000. If designated as a Texas Enterprise Zone project, Alcon will commit that 35% of new hires for its certified jobs at its Fort Worth facility during its enterprise project designation will be economically disadvantaged persons or enterprise zone residents.<\/p>\n Southland Industries plans to spend about\u00a0 $11.5 million across two adjacent properties at 4101 N. Beach St. and 3701 Gourley Drive for an expansion of respective assembly and fabrication facilities for custom heating, ventilation and air conditioning products.\u00a0<\/p>\n As part of that project, the company will create 500 new jobs, with an average annual salary at $82,200. If the project receives the state designation, it commits that 25% of new hires will be economically disadvantaged persons or enterprise zone residents for its certified jobs at its Fort Worth facility.\u00a0<\/p>\n Meanwhile, if Adom Industries locates operations in Fort Worth, it plans to invest $229.2 million to build a headquarters and prototyping lab that could employ as many as 267.\u00a0<\/p>\n The jobs would come with an average salary of $91,000. Company officials have said they plan to spend $243.7 million in research and development over 15 years. Adom officials plan to expand over four phases from 2027 to 2033, according to the presentation.\u00a0<\/p>\n Adom Industries\u2019 website notes the company is building the world\u2019s first AI-native cloud factory \u2014 which develops AI solutions using cloud platforms for prototyping and testing electronics remotely \u2014 allowing it to help companies develop new products faster and keep much of the development in the United States instead of overseas.\u00a0<\/p>\n Fort Worth economic development officials said one attractive feature of the project is the high levels of research and development \u2014 something that\u2019s been in the city\u2019s business growth despite the contributions of major companies such as Lockheed, Alcon, Bell, Elbit and others, according to a presentation from economic development officials.\u00a0<\/p>\n Research and development-oriented companies tend to be a magnet for high-skill, specialized talent supporting high-wage jobs and are more likely to produce spin-off companies, according to the presentation.<\/p>\n \u201cFort Worth just really has not produced the level of R&D activity that you expect for a city of our size,\u201d Hennig said at the Aug. 5 meeting. \u201cThat\u2019s been really one of the key priorities within our economic strategic plan to try and recruit more of that activity here at Fort Worth.\u201d\u00a0<\/p>\n Adom Industries also is seeking $20 million in support from the Texas Semiconductor Investment Fund and $10 million from the National Science Foundation for the project, but the company\u2019s plans for Fort Worth are not contingent on that funding, according to the city\u2019s report.\u00a0<\/p>\n The company\u2019s website<\/a> has job listings posted for the Dallas-Fort Worth area, including for electrical engineers, software engineers and robotics engineers.\u00a0<\/p>\n Bob Francis is business editor for the Fort Worth Report. Contact him at bob.francis@fortworthreport.org<\/a>.At the Fort Worth Report, news decisions are made independently of our board members and financial supporters. Read more about our editorial independence policy here<\/a>.<\/p>\n \n\tRelated\n<\/p>\n Fort Worth Report is certified by the Journalism Trust Initiative<\/a> for adhering to standards for ethical journalism.<\/p>\n Republish This Story<\/p>\n
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