Fort Worth Approves Tax Abatement For EV Component Plant

Arlington TX

26 January, 2022

6:52 PM

Description

By Bob Francis, Fort Worth Report January 25, 2022 A company that provides key components to the growing electric vehicle industry is set to build a new plant in Fort Worth that will create about 100 jobs. The Fort Worth City Council unanimously approved Jan. 25 a tax abatement agreement with MP Materials, a company that manufactures components for electric vehicles. The plant is considered key to building a national manufacturing infrastructure to supply components for electric vehicles and other clean energy technologies. "Not only does the MP Materials project have a lot of local importance for Fort Worth's growing EV industry, but their NdFeB magnets have several positive implications for our regional and national infrastructure," said Robert Sturns, the city's director of economic development. "These magnets are important components of the technologies that we use and rely upon daily, and we look forward to seeing them produced right here in Fort Worth." To read the full article, click here. Fort Worth Report is a nonpartisan, nonprofit news organization that produces factual, in-depth journalism about city and county government, schools, healthcare, business, and arts and culture in Tarrant County. Always free to read; subscribe to newsletters, read coverage or support our newsroom at fortworthreport.org.