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Fort Worth approves $4.5M incentive for Mach Industries defense plant
Mach Industries will need to invest $74M by early 2030 and create at least 1,000 full-time jobs to receive the incentive package.
Fort Worth approved a $4.5 million economic development agreement with California-based Mach Industries for a manufacturing plant tied to the company’s unmanned aircraft systems, according to Bisnow. The project is linked to the AllianceTexas master-planned community and the 310,000-square-foot Alliance Gateway 34 building at 5000 Westport Parkway in Hillwood.
The city approval follows reporting that Mach Industries leased space at that address, though no formal lease announcement had been made at the time of the deal. Hillwood CEO Ross Perot Jr. told the Dallas Morning News that the company felt good about the transaction, but noted there was no update to share yet.
Under the agreement, Mach Industries must invest $74 million in the manufacturing plant by the beginning of 2030 and create at least 1,000 full-time jobs to qualify for the grants and tax breaks. The defense technology startup, founded about three years ago, raised $300 million in a Series C round that valued the company at $1.8 billion, with new investors including Infinite Capital and Ribbit Capital.
Bisnow also noted that Fort Worth Governor Greg Abbott designated as Texas’ aviation and defense capital last year. The area has more than 600 aerospace and defense-related companies, and the story points to other recent activity at the Fort Worth Alliance Airport area, including Embraer’s $70 million expansion slated to increase U.S. capacity by 53% when completed in 2027.