E-Space is inching closer to an approval for its new headquarters and manufacturing plant in Arlington.
The satellite communications company is expected to get the green light from Arlington City Council Tuesday to enter into a public-private partnership that would pave the way for the 750K SF facility, according to the Fort Worth Report.
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As part of the deal, the city’s economic development corporation would contribute up to $50M in municipal bond proceeds toward the project’s development. At the end of construction, the EDC would lease the facility back to the company at a base rent of $2M per year.
The project is expected to create more than 3,000 jobs and pay out upward of $8B in taxable wages over its 30-year lease. Once the term expires, E-Space would have the option to renew at a 3% rent increase every five years.
The first phase of construction is expected to be complete by late 2026. In the meantime, E-Space would lease an existing building in Arlington to begin building its North Texas operations and workforce, according to Fort Worth Report.
E-Space’s European headquarters is in Toulouse, France, and it has U.S. offices in Beverly, Massachusetts, and Saratoga, California.
Dallas-Fort Worth is among the nation’s top markets for aviation and aerospace activity. The regional aerospace industry comprises more than 900 companies, accounting for one in every six jobs, according to the Dallas Regional Chamber.
Lockheed Martin recently expanded its Fort Worth operations to include a 163K SF storage and distribution facility, while Bell Textron is considering building a $157M advanced manufacturing plant in the Alliance submarket.
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