Council considers incentives for GE on Wing expansion

Council considers incentives for GE on Wing expansion

Published on August 07, 2024

Earlier this week, an economic development incentive was presented to city council for the expansion of GE on Wing Support Inc. in Fort Worth. GE on Wing Support is a full-service provider of engine maintenance and repair, and is a legal entity of GE Aerospace.

GE on Wing Support has more than 300 employees worldwide spread across eight facilities, and 65 of those employees are already based at the 84,344-square-foot facility in Fort Worth, located near DFW International Airport.

The company is seeking to expand into an additional 3.25-acre parcel next to its current location, creating a larger single footprint.

GE on Wing Support Inc. would commit to a capital investment of $50 million, including $37.5 million in real property improvements by December 2026 and $12.5 in business personal property by January 2027.

The company would also commit to hiring 100 additional full-time jobs by December 2026, for a total of 165 full-time employees at the site. The expected minimum average annual salary for all jobs would be $70,000 or more.

Additionally, 15% of construction costs for improvements would go towards business-equity firms.

In exchange, the City of Fort Worth will enter into a seven-year tax abatement for up to 60% of the incremental value of both the company's real and business personal property. The abatement would be subject to company performance on the commitments listed above; if the commitments are not met, the abatement would be reduced.

The incentive will go before city council for final consideration at its meeting on Aug. 13.

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• Business & Economy