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Siemens Industry Inc., a subsidiary of a German technology titan, appears poised to move ahead with plans to become a part of Fort Worth’s booming industrial market.
The company filed paperwork with the Texas Department of Licensing and Regulation to begin renovating the 549,000-square-foot Carter Park East Building 1, which will house Siemens’ planned manufacturing plant at 7200 Harris Legacy Dr. in south Fort Worth.
The company, which will be focusing on low-voltage electrical panels and circuits there, is investing $64 million in this phase of construction, according to the documents filed with the state. Work will begin on Sept. 4 and be completed by the end of 2024.
City of Fort Worth
Location of the Siemens plant, south of Interstate 20 and east of Interstate 35.
There is one caveat. The Fort Worth City Council won't formally take up a tax-incentive package for Siemens until Sept. 12. The city’s Economic Development Department briefed the council last week in work session. The impacted site sits in Councilman Chris Nettles' District 8.
It is expected to pass.
The city has proposed a 10-year tax abatement of up to 70% of incremental real and business personal property, which carries an estimated value of $6 million.
Siemens will make an investment of $133 million in its Fort Worth plant, including $70 million in real property improvements by the end of 2024 and $63 million in business personal property by Jan. 1, 2025.
The company says it will employ 167 by the end of 2024 and 715 by the end of 2026, with an average annual salary of $63,000.
Siemens Industry Inc., a subsidiary of Siemens AG, provides products, systems and services for industrial automation, drives, motors and energy management systems.
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 Industry Inc., which has a low-voltage circuit breaker manufacturing hub in Grand Prairie, has been looking to expand in the region with a second facility, according to the city. The current global demand for low-voltage switchgear has skyrocketed in part because of increased construction, expansion of manufacturing operations, and growing use of sustainable energy.
The council on Sept. 12 is also planning to take up an incentive package for beverage manufacturer DrinkPak, which wants to open two plants in Fort Worth, one in Denton County at 25001 Eagle Parkway, near Alliance Airport in the Trammel Crow development, and another in the Carter Park East industrial park.
The site in north Fort Worth would open in the first part of 2027. The plant in south Fort Worth has a scheduled opening date of January 2028.
The company’s total investment would approach $452 million, according to the city.
A public hearing will also be held that day to create a “reinvestment zone” for both projects, Siemens and DrinkPak.