Fort Worth approves $70m in incentives for Linear Labs Electric Motor PlantAll Articles
Linear Labs, the electric motor company reinventing electrification, will develop a new 500,000 sq ft manufacturing plant in Fort Worth, Texas.
The new plant will be built in the masterplan development AllianceTexas, which has the one-of-kind “Mobility Innovation Zone” that focuses on commercializing technology and mobility solutions. Linear Labs is also planning to create a research and development center, investing $614 million over 10 years. The company plans to hire 1200 full-time employees within eight years and the average salary will be about $75,000. As part of the stipulations, Linear Labs will be required to invest $4 million in facility improvements at its planned site in the Alliance Texas Mobility Innovation District.
Government Incentives include a $68.9 million grant over a 15-year period from the City of Fort Worth to help cover the cost of developing a high-tech electric motor factory. The economic incentives offered to Liner Labs will stimulate tech growth in Texas.
“This will be seen as an inflection point in the company’s history, and for innovation, job creation and business in Fort Worth and Texas. We are leading the charge for a next wave of companies redefining the power electrification space globally in America’s backyard," said Brad Hunstable, Chief Executive Officer of Liner Labs.
“This new technology has the potential to, I hate to say ‘disrupt the market’ but that’s exactly what it could do. This is really one of those things that allows us to put Fort Worth out there as a player,” said Robert Sturns, the city’s economic development director.
The grant will help Linear Labs move its overseas operations – much of which takes place in Mexico currently – to the city. Linear already operates an 11,000 sq ft facility in the city and is ready to hit the ground running, following the approval.
Linear Labs is a smart electric motor company based in Fort Worth, Texas. It is focused on creating a new and versatile electric motor system design that will redefine mobility (ie electric vehicles), HVAC systems and robotics, welcoming in a new era of smarter energy utilization.
All Articles Arrange a Demo of Incentives Monitor