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Siemens on Friday formally announced what we knew about its plan to establish an advanced manufacturing plant within the Carter Park East industrial park in south Fort Worth.
The facility at 7200 Harris Legacy Dr. will focus on the production of low voltage switchgear and switchboards, supporting the increasing global demand for these essential industrial components, the company said.
This project represents nearly 30% of Siemens’ $500 million investment in critical infrastructure manufacturing in the U.S. this year. This expansion includes $70 million in real property improvements to be completed by Dec. 31, 2024, and an additional $55 million in business personal property to be in place by Jan. 1, 2025.
The facility will create more than 700 jobs at an average annual salary at more than $63,000, according to a press release.
“In the last decade, digital technologies transformed our personal lives and the consumer world. This investment tells us that this is the moment for industry and infrastructure, as the backbone of America’s economy is brought online and billions of things are connected,” said Barbara Humpton, CEO of Siemens USA, in a statement. “In making this new plant a reality, we'll create hundreds of high-skilled manufacturing jobs in the region while also modeling the path forward for American manufacturers focused on meeting rising demand for high-tech products and increasing sustainability.”
The Fort Worth City Council in September approved a 10-year tax abatement of up to 70% of incremental real and business personal property, which carries an estimated value of $6 million. The company had already filed paperwork with the state to begin work on the plant.
Siemens AG, a multinational corporation, is the largest industrial manufacturing company in Europe, with operations in 190 countries worldwide. Its annual revenue is in excess of $78 billion and it employs more than 300,000 across the globe.
Siemens has a long history of providing products, systems, and services for industrial automation, drives, motors, and energy management systems. As a low-voltage circuit breaker manufacturing hub, the company's new manufacturing plant in Fort Worth marks a strategic move to further support the growing demand for low voltage switchgear, according to the Fort Worth Chamber. This surge in demand is driven by factors such as increased construction, the expansion of manufacturing operations, and the rising utilization of sustainable energy sources.
“Fort Worth is excited to have Siemens invest in a state-of-the-art facility here as part of the company’s growing presence across our region,” said Fort Worth’s Mayor Mattie Parker. “Siemens is not only an excellent fit for Fort Worth's expanding ecosystem of innovative and technology-forward businesses, but the company will also create hundreds of exactly the kinds of high-quality career opportunities residents are looking for to thrive in our city."
The investment builds upon the company's established presence in Grand Prairie, where it manufactures circuit breakers and supporting electrical infrastructure and in nearby Carrollton, where it builds electric vehicle chargers for the U.S. market.
Said Robert Allen, CEO of the Fort Worth Economic Development Partnership: “As Fort Worth continues to grow, having Siemens join our community reinforces our commitment to fostering a collaborative environment where pioneering ideas thrive. Siemens' global expertise aligns seamlessly with our city's aspirations, promising not only economic opportunities and job creation but also a legacy of advancement and prosperity. This partnership stands as a testament to Fort Worth's reputation as a hub for innovation, and we look forward to the positive impact Siemens will undoubtedly bring to our dynamic city.
Final incentives for this expansion are scheduled to go before the Tarrant County Commissioners Court on Nov. 7.
“When you think about how quickly Fort Worth and the North Texas region is growing, Siemens produces exactly the kind of future-forward, technology-driven products and sustainable systems that will be critical to helping us collectively manage that growth through energy-efficient infrastructure," said Robert Sturns, director of economic development for the city of Fort Worth.