Aerospace company Bell Textron Inc. is considering investing $157 million to establish a new advanced manufacturing plant located in Alliance in far north Fort Worth, according to its application for state incentives.
The company is applying for a 10-year reduction in property taxes under the Jobs, Energy, Technology and Innovation Act, the economic incentive program that lawmakers created to replace Chapter 313.
Bell says it would commit to creating 75 jobs with an average annual wage of $69,784, with an estimated capital investment of $429 million. By the end of the 10-year period, it says the plant could create an estimated 411 jobs with a $600 million capital investment.
The company is considering using and expanding a 447,373-square-foot building at 15100 N. Beach St., previously occupied by Stanley Black and Decker Tooling, for “a large-scale and multi-decade advanced aerospace manufacturing production operation capable of producing several aerospace products,” according to its application for state incentives. The site is one of several Bell has evaluated across three states, including Texas, according to the application.
“Property taxes in Texas are higher than the other finalist locations under consideration and a limitation on the school taxes over a 10-year period would provide the project with meaningful operating cost savings making the Texas location more competitive for this project,” the company stated in its application. “Incentive proposals have been obtained from both out of state locations on available land sites which would accommodate this project requirement.”
Bell is also reviewing an offer for a $1 million grant from the city of Fort Worth and is preparing an application for almost $2.7 million from the Texas Enterprise Fund, a state “deal closing” grant, according to the application.
Bell, headquartered in Fort Worth, currently employs more than 4,000 people. In 2022, the Army awarded Bell a massive contract worth millions to build a next-generation attack helicopter, worth $70 billion over decades. Bell broke ground on a $20 million test lab for the new helicopter in Arlington in March 2023.
Once Bell’s application is deemed complete, the Texas Comptroller has 60 days to either recommend or not recommend the application. Then, the comptroller will write a written notice of its decision and the governor will have 30 days to consider.
After the governor’s office gives written notice, the decision will go to Northwest ISD, which will hold a public hearing and make a decision. According to the state incentive program guidelines, the tax abatement agreement can move forward only if the governor’s office and the school district approves.
Northwest ISD said in a statement to the Fort Worth Report that the district is familiar with Bell’s application and is interested in how the new process will unfold with the comptroller’s office. This is the first JETI application affecting Northwest ISD that has been proposed since the new legislation has passed.
The city of Fort Worth spokesperson told the Fort Worth Report that it is aware Bell has applied for state incentives but cannot comment on active projects that remain competitive with other sites.
Bell could not be reached for comment.
Seth Bodine is a business and economic development reporter for the Fort Worth Report. Contact him at seth.bodine@fortworthreport.org or follow@sbodine120.At the Fort Worth Report, news decisions are made independently of our board members and financial supporters. Read more about our editorial independence policyhere.
This article first appeared on Fort Worth Report and is republished here under a Creative Commons license.