A $687 million investment from Taiwan-based electronics manufacturer Winstron will bring the company’s first U.S. manufacturing site to Denton County after County Commissioners approved a tax abatement agreement on Wednesday.
Denton County competed with El Paso and Fremont, California for the site.
“This is Wistron’s first U.S. manufacturing site, so we are very excited,” said Phil Huang, the sales and service director with Winstron. He added that the company appreciates all of the support from the county. “We look forward to bringing more jobs and more business to Denton County.”
Winstron InfoComm (USA) Corporation has plans to build at 15200 Heritage Parkway in north Fort Worth, which is expected to create 634 full-time jobs.
A second site will be purchased and built on at 14601 Mobility Way, a Hillwood Property, which is expected to add 254 full-time jobs.
Winstron, a partner with Nvidia, is a key manufacturer and global supplier for components used in iPhones, notebooks, desktop computers, servers, storage devices and professional displays.
“Wistron’s $687 million investment and creation of 888 new jobs marks a pivotal milestone for Denton County,” said Denton County Judge Andy Eads. “This project strengthens our role in the rapidly expanding semiconductor supply chain and brings tremendous economic opportunity to our region. We’re proud to support Wistron’s growth and welcome the innovation and high-quality jobs they bring to North Texas.”
A tax abatement agreement is an agreement between the local government and a taxable entity that exempts all or part of the increase in the value of property from taxation for a period not to exceed 10 years, according to the Texas Comptroller’s website.
Under the agreement, Winstron will receive a 40 percent abatement capped at $3 million for the site on Heritage Parkway and a 30 percent abatement capped at $900,000 for the Mobility Way project, both for a period of eight years.
If both sites are completed, the abatement rate for Heritage increases to 50 percent and for Mobility increases to 40 percent with a combined cap of $5 million over the eight-year period.
For the 888 total jobs made, the average base salary will be $63,000, according to the deal.
“We have continued to work to attract companies that offer more robust starting salaries,” said Precinct 3 Commissioner Bobbie J. Mitchell. “I am thrilled to have even more jobs on the horizon with starting wages beginning at $63,000, which enable our residents to live, work and play in Denton County.”
According to a release from the county, in return, the Winstron must:
- Complete real property improvements at both project sites completed and fully operational by Dec. 31, 2026
- Invest at least $80 million on real property improvements at the Heritage site and $32 million at the Mobility site
- Spend at least $411 million on new tangible business property at Heritage and $164 million at Mobility by December 1, 2027
- Create 634 new full-time jobs at Heritage and 254 jobs at Mobility with an average base salary of at least $63,000.
At commissioner’s court on Wednesday, Huang and James Glass, who is in charge of compliance solutions, director, tax and business incentives at ADP, accepted a framed proclamation from Governor Greg Abbott on behalf of the company.
“Wistron’s significant investment in Precinct 4 is a testament to the strength of our workforce and infrastructure,” said Precinct 4 Denton County Commissioner Dianne Edmondson. “This project brings tremendous opportunity and reinforces Denton County’s role in the global semiconductor and electronics manufacturing industry.”
On June 24, the Fort Worth City Council approved a Tax Abatement Agreement with Wistron, providing up to a 70 percent abatement for the Heritage site and up to 50 percent for the Mobility site, each for a 10-year period. If both sites are completed, the abatement increases to 80 percent for Heritage and 60 percent for Mobility.