The City Council of Fort Worth is currently weighing the prospects of tax incentives for Embraer Aircraft Maintenance Services. This subsidiary of the Brazilian aerospace behemoth Embraer South America is pitching a maintenance hub for commercial aircraft in the city. According to the City of Fort Worth, the proposed operation would nestle into a 16-acre greenfield site powered by Hillwood and situated near Perot Field Fort Worth Alliance Airport.
The development comes with some significant commitments: Embraer Aircraft Maintenance Services projects a $57 million capital investment and vows to create 250 full-time jobs by December 2029, boasting an average salary upwards of $67,000. It's an offer that extends 15% of construction costs to business equity firms as well. In return, they’re asking for a seven-year tax abatement which could see up to half of the incremental value of its real and business personal property vanish - a potential saving for the company estimated at $1.2 million. Should the company fall short of its promises, however, that abatement could shrink or disappear entirely.
The City stands to gain, with projections estimating that more than $1.2 million in gross net new taxes would flow into public coffers, theoretically offsetting the cost of the incentive within about three years. The forthcoming vote by the Fort Worth City Council on October 15 will determine the fate of the proposed tax breaks. Later in the fall, this matter is also to appear on the docket of the Denton County Commissioner’s Court.
