The Fort Worth City Council is currently deliberating on a major tax incentive package designed to attract Stellar Energy Americas to build a new manufacturing facility in the region. According to information released by the City of Fort Worth, the facility, if coming to fruition, would focus on producing modular cooling equipment for data centers, a market that has seen rapid growth. With an address pinpointed for 15060 Blue Mound Road at Westport 24 in AllianceTexas, Stellar Energy Americas is expected to decide whether it will plant its roots in Fort Worth based on the outcome of the incentive discussions.
The proposed tax abatement hinges on Stellar Energy Americas committing to a hefty $79.5 million capital investment by the end of 2026. This includes over $34 million earmarked for construction costs and another $45.5 million towards business personal property. In addition, the firm aims to quickly create at least 1,420 full-time jobs by the end of 2027, targeting an average annual salary of $78,000 for these roles, according to the City of Fort Worth's announcement. Thirty percent of the future workforce is to be sourced from Fort Worth itself, demonstrating a clear focus on boosting local employment.
Fulfillment of these hefty promises is crucial, as the City would offer Stellar Energy Americas a ten-year break on up to 60% of its real property and business personal property taxes. However, should the company fail to fully meet the capital investment benchmark, it would find itself in default of the agreement. Moreover, not meeting the job creation or salary targets would result in forfeiture of the tax abatement—a significant risk for a company looking to leverage local government support for its expansion plans.
