Fort Worth Just Might Land An Amazon Deal After All
It wasn’t all that long ago that Amazon was considering a site just 12 miles southwest of downtown Fort Worth for the location of its colossal HQ2 project (the gold medal was ultimately awarded to Arlington, VA).
However, it looks like Fort Worth has another opportunity to land a deal with Amazon, along with Ford, their partner in a new project. The project has been dubbed “Tera,” and Irvine, California-based Rivan Automotive, the electric vehicle (EV) startup backed by Amazon/Ford, is taking a hard look at Fort Worth.
According to Rivan, the $5 billion, 12 million square foot project would create 7,500 jobs within five years, with the minimum average salary being $56,000. In addition, Rivan would commit to a minimum of $2 billion in real property improvements and $1.6 billion in hard construction costs.
The Fort Worth Economic Development Council (EDC) has rolled up its sleeves and has proposed a package for Rivan that would include up to $440 million in grants and county tax abatements. The EDC recently pitched its plan to the Fort Worth City Council.
Tera would rival Tesla’s “GigaTexas” project, which Tesla CEO Elon Mush has touted as what would be the largest automotive manufacturing facility in the U.S. The plant is under construction on just under 2,500 acres located right outside of Austin.
The number of employees that will work at the Tesla plant was estimated to be 5,000 last June, but Musk, not known to be conservative, bumped that number up to more than 10,000 this past spring.
When the Rivan deal could close is anybody’s guess right now. Whether or not Fort Worth is selected, this is just another indicator that Fort Worth means business and has the respect of corporate America. It won’t be long before we land a big one.
Until then, lets find you a home in either Walsh ranch or Aledo Texas.
NTREIS data last updated January 28, 2022.