Business & Tech
McMaster-Carr to invest in Fort Worth, to bring 250 jobs
McMaster-Carr Supply Co. has announced plans to establish a new regional headquarters and distribution center in Fort Worth
Fort Worth - The Fort Worth City Council is set to decide on a grant agreement that could bring a major e-commerce hardware distribution company to the area. According to Dallas Metro News, McMaster-Carr is considering constructing its southwest regional headquarters at 4894 Litsey Road, a sprawling 117-acre site in far north Fort Worth.
As part of the agreement, McMaster-Carr would have to commit to investing at least $180 million in site development and another $180 million in business personal property to qualify for the grant funding, according to city documents. In addition, the company is required to create at least 150 full-time jobs within the first year of operation, and reach a total of 250 full-time jobs within six years, with an average annual salary of $85,000.
If the company meets these requirements, Fort Worth is prepared to offer up to $18 million in grant funding. The city projects that the development could generate an additional $56,796,775 in property and sales tax revenue.
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The City Council is scheduled to vote on the grant agreement at their 10 a.m. meeting on Tuesday.
Other companies investing in Fort Worth
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Junchuang North America Inc., an electric vehicle parts manufacturer, has revealed plans to establish a new facility in Fort Worth. The company has acquired a 55,000-square-foot manufacturing and industrial space at 46 Ranch Logistics Park in the city's southern region. Representing a considerable investment of around $21 million, this new facility is anticipated to create more than 120 jobs by 2025, bolstering Fort Worth's economic development and employment opportunities.
Additionally, Siemens has announced the opening of a $133 million plant in Fort Worth, projected to offer more than 700 jobs by 2026.
These significant investments underscore Fort Worth's growing appeal as a business destination, especially for companies in the e-commerce distribution and electric vehicle manufacturing sectors. As the city continues to draw in investment and foster commercial growth, it is set to establish itself as a central hub for commerce and industry, bringing advantages to both the local community and the wider region.
Credit: Dallas Metro News, Dallas News
