Fort Worth, Texas – McMaster-Carr Supply Co., a leading e-commerce distribution firm specializing in the supply of specialized equipment, hardware, tools, and other products, has announced plans to establish a new regional headquarters and distribution center in Fort Worth. This move comes as part of a broader strategy to expand the company’s reach and better serve its growing customer base. According to city documents, the expansion is expected to create 250 jobs with an average annual salary of $85,000.
The City of Fort Worth is considering incentives to support the McMaster-Carr project
The city of Fort Worth is reportedly considering a package of incentives to support the project. This package would comprise $18 million in financial support, structured as ten annual grants. These grants would be equal to up to 85% of the maintenance and operations portion of the new incremental city ad valorem taxes on business personal property associated with the new facility. Additionally, the incentives would include up to 50% of the new incremental city 1% sales tax revenues.
The new facility, which will be situated at 4894-4896 Litsey Road, represents a substantial investment for McMaster-Carr, with an estimated total cost of $180 million. The expansion will further bolster the firm’s reputation for delivering equipment and maintenance services for critical functions and operations. Notably, McMaster-Carr’s offerings typically consist of high-value equipment, which is ordinarily subject to inventory taxes as business personal property.
McMaster-Carr is already present in Atlanta, Chicago, Cleveland, Los Angeles, and New Jersey
McMaster-Carr already has a significant presence in several major cities across the United States, including Atlanta, Chicago, Cleveland, Los Angeles, and New Jersey. The establishment of the Fort Worth facility will mark the company’s sixth regional headquarters. This move demonstrates McMaster-Carr’s continued commitment to expanding its operations and enhancing its ability to serve customers with efficiency and effectiveness.
As part of the economic development program agreement, McMaster-Carr Supply Co., a prominent e-commerce distribution firm, will be held accountable for the timely completion of its proposed regional headquarters and distribution center in Fort Worth. Should the firm fail to meet the agreed-upon timeline, it stands to forfeit the grants provided by the city to support the project.
The establishment of this new regional headquarters is projected to generate significant financial benefits for the city. Specifically, the facility is expected to yield nearly $57 million in new incremental property and sales tax revenue. A portion of this revenue will be allocated to the $18 million in grants that the city has offered in support of the project. Over the course of the ten years following the project’s completion, the headquarters is anticipated to contribute almost $39 million in net new incremental property tax revenue.
McMaster-Carr’s planned investment in Fort Worth comes amid a broader surge in commercial development activity in the city. This trend is evident in the increasing number of businesses seeking to establish a presence in the area.
Other companies also investing in Fort Worth including Siemens and Junchuang North America Inc.
In another notable development, Junchuang North America Inc., a parts manufacturer specializing in the electric vehicle market, has announced plans to set up a new facility in Fort Worth. The company has secured a 55,000-square-foot manufacturing and industrial facility at 46 Ranch Logistics Park in south Fort Worth. This expansion represents a significant investment of approximately $21 million. The facility is expected to generate more than 120 jobs by 2025, further contributing to the city’s economic growth and job creation efforts. Siemens also announced opening a $133 million plant in Fort Worth and is expected to provide more than 700 jobs by 2026.
These investments are a testament to Fort Worth’s status as an increasingly attractive destination for businesses, particularly those in the fields of e-commerce distribution and electric vehicle manufacturing. As the city continues to attract investment and facilitate commercial development, it is poised to solidify its position as a hub for commerce and industry, delivering benefits to both the local community and the broader region.