FORT WORTH, Texas — This story originally appeared in the Dallas Business Journal.
Fort Worth is considering a project by an electric auto company that would bring more than 7,000 jobs and mean an investment of $5 billion, according to a new document.
Rivian, which has backing from Amazon.com and Ford, would be able to produce 200,000 vehicles a year and create at least 7,500 jobs by 2027, according to an Aug. 10 presentation by the City of Fort Worth’s Economic Development Department to the City Council. It's a "proposed economic development program agreement with Rivian Automotive" or affiliate.
For the effort – called “Project Tera” – there are incentives, including grants and county tax abatement of up to $440 million.
A number of states and cities are still under consideration, but the Texas site has become the front-runner for Rivian, according to people familiar with the matter, a Bloomberg report said. Rivian, and in particular Chief Executive Officer R.J. Scaringe, had previously been keen on a location in Arizona but concerns were raised around the available infrastructure, the people said, according to Bloomberg. No final decision has been made, and it could be some weeks before a deal with one of the cities or states, the people said.
Bloomberg earlier reported on the talks.
The document said the Forth Worth effort would be one of the largest projects in state history. It would include a vehicle manufacturing and development center. There would be up to 12 million square feet of new vertical construction.
The site would be roughly 12 miles southwest of downtown Fort Worth at what’s called “Walsh Ranch," the document shows.
"Fort Worth has a history of producing some of the most cutting-edge vehicles on earth, so we're very excited about the opportunity that this project presents and look forward to continuing the process,” Robert Sturns, director of economic development, said in an emailed statement.