Incentives

Project Summary

Global Fortune 500 company founded in 1843 that manufactures hand tools, power tools, mechanical access systems, and various industrial products consolidating into a 425,000 SF new manufacturing facility to open in late 2020.

The company will be investing approximately $90 Million with over 500 full-time positions at the site in the Alliance area.

Incentive

Tax Abatement, Workforce Training and Expedited Permitting

Strategic Impact

Stanley Black & Decker purchased Craftsman in 2017 with a commitment to revitalize the iconic American brand. The Fort Worth location is the first new manufacturing facility in many years and demonstrates the companies’ commitment to growing the brand and bringing production back to the United States.’

Quote

“This new plant will also be the latest in our network of manufacturing facilities – one that uses state-of-the-art manufacturing technologies and demonstrates our commitment to becoming one of the world’s leaders in advanced manufacturing,” – Jim Loree, Stanley Black & Decker President and CEO, May 2019

Project Summary

Completed in 2019, the new American Airlines world headquarters will house 12,000 full time employees at the 300-acre complex. In addition to the winding paths surrounded by mature trees, a creek and other water features, the $350 Million campus includes a 600-room hotel for employees staying at the campus for training, a new central dining area, a fitness center, health clinic, and large ballroom-type meeting space.

Incentive

Tax Abatement, Economic Development Program Agreement (Chapter 380), Texas Enterprise Zone Program, and Expedited Permitting

Strategic Impact

American Airlines is the world’s largest airline operating an average of 6,700 flights per day to nearly 350 destinations in more than 50 countries. The company employees more than 33,000 colleagues in the DFW metro and is the largest employer in North Texas.

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Project Summary

$65 million adaptive reuse of historic 1920’s office building transformed into one of the most technologically advanced hotels in the world. Leveraging approximately $4.5 million in critical funding from Fort Worth’s Downtown TIF district, project developers built a 165-room Autograph hotel featuring low voltage Power-Over-Ethernet, digital electricity, and other cutting-edge energy, network, and smart building technology systems throughout the property.

Incentive

Tax Increment Financing grant

Quote

“The Sinclair combines the beauty and historical significance of Fort Worth with the innovative connected technology of the future. By using the latest connected technology from Intel and our other partners, we can offer guests the absolute best experience from the moment they walk through the door.” – Farukh Aslam, CEO and president of Sinclair Holdings

Strategic Impact

Initially targeted for its potential to serve downtown Fort Worth’s growing business, convention, and leisure tourism market, the Sinclair has quickly become a destination in itself. Early guests have included national and international visitors interested in experiencing the most complete example of integrated smart-building technology in a commercial building found anywhere in North America. Beyond its role as a resource partner, the City of Fort Worth adapted its permitting processes and requirements to new technology, establishing many “firsts” along the way. The Sinclair builds on Fort Worth’s legacy of support for historic preservation while showcasing the community’s visionary approach to new construction techniques.

Project Summary

$56 million renovation and conversion of the historic 24-story Transport Life Building into a 232-room Kimpton Hotel. This strategically-important project located at the corner of Main Street and 7th Street, was made possible through a combination of local incentives, federal historic tax credits, and the State’s own generous historic tax credit program.

Incentive

Economic Development Program Agreement (Chapter 380) – Hotel Occupancy Taxes, Tax Increment Financing grant

Strategic Impact

When Fort Worth-built success story, XTO Energy, was relocated to Houston following its merger with Exxon, concern spread throughout the region over how the loss of 1,600 employees and the sale of more than 700,000 SF of prime office space in seven historic buildings would impact the downtown Fort Worth real estate market. No one imagined how quickly all seven properties would be bought nor the diversity of interest across sectors. While some properties have remained office, others have been converted to other uses, including hospitality. No single project better represents Fort Worth’s resilience and adaptability found in the new Kimpton Hotel.

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