Fort Worth has put a tax break on the table for Harting Connectivity, a maker of industrial connectors that is deciding where to build a $192.7 million plant and possibly a new U.S. headquarters.
The City Council voted unanimously on Tuesday, Sept. 29, to offer the company a 10-year abatement of up to 65% of the incremental real and business personal property taxes on the project, the Fort Worth Report reported. The city values the abatement at about $6 million.
Assistant Economic Development Director Brianna Brown told the council the deal amounts to a city participation rate of 3%. "For every public dollar that is put in, we get $32 back into the city of Fort Worth for this investment," she said, according to Bisnow.
What the company would have to do
Under the terms described by the Fort Worth Report, Harting would invest at least $192.7 million: $31.1 million in construction by the end of 2027 and $161.6 million to equip the plant by the end of 2031. It would also commit to spending 30% of construction costs with small businesses.
The company would agree to hire 701 new workers by the end of 2034 at an average wage of $87,000. That count includes 189 corporate and technical jobs tied to a possible headquarters move, which would average more than $125,000 a year.
The plant would occupy three buildings in the Carter Crossing industrial park at Interstate 20 and Wichita Street. Bisnow listed the addresses as 2101 and 2253 Whitebeam Brook St. and 2800 Gosden Close St.
