FORT WORTH — When Fort Worth Mayor Mattie Parker and other business leaders in the community first began discussing how to position Fort Worth as ‘the most vibrant and sustainable city in the United States,’ they envisioned creating an organization that would elevate the North Texas city’s approach to economic development and build long-term prosperity by attracting investment across industries — from aerospace, defense, mobility and logistics to financial services, biotech, life sciences and film production.

In 2023, the Fort Worth Economic Development Partnership (Fort Worth EDP) was formed. Since then, and under the leadership of president and CEO Robert Allen, this privately-funded economic development nonprofit has “exceeded every expectation,” securing nearly $10 billion in new capital investment and generating more than 11,000 new jobs across the city, Mayor Parker said yesterday at the Amon Carter Museum of American Art, following Fort Worth EDP’s annual general meeting.

Major investment from the aerospace cluster

Over the last two years alone, American Airlines and Bell have doubled down on their investments in Fort Worth. The former is in the process of investing over $4 billion to double the number of gates at its new Terminal F at Dallas Fort Worth International Airport and the latter is investing over $600 million in a new manufacturing center to build components for the Bell MV-75 (V-280 Valor), a tiltrotor aircraft that was selected by the United States Army for the Future Long-Range Assault Aircraft (FLRAA) program.

Some members of the Fort Worth community assumed that the Bell project was a foregone conclusion because the defense contractor’s headquarters are already in Fort Worth. “Let me assure you, it was not,” Allen said. “It took hours and a large team to beat two other extremely competitive states. Successful economic development is not a given. It is earned.”

“Beyond hundreds of jobs and a capital investment that likely will near a billion dollars by the time they’re done,” he added, “this project shows that Fort Worth can support the next-generation growth of companies that have their roots right here at home. It’s a statement about Fort Worth’s advanced aerospace and defense capabilities, now recognized by the Governor as the aerospace and defense capital of Texas for ten years.”

Aircraft maintenance, AI and film

Other significant new projects in Fort Worth are afoot. German tech conglomerate Siemens is plowing $190 million into a new electrical products manufacturing hub, and Taiwan-based electronics manufacturer Wistron is spending $761 million to establish two AI supercomputer facilities in AllianceTexas — the 27,000-acre, master-planned development run by multinational firm Hillwood.

In early October, Brazilian airframer Embraer announced plans to open a new service center at Perot Field Alliance Airport, the cornerstone of AllianceTexas, to support the growing fleet of E-Jets in the United States.

“If billions of dollars in investments in aerospace or AI don’t excite you,” Mayor Parker said, “there’s always the sexy topic of film and television production in the city of Fort Worth.” She pointed to the tremendously successful partnership between Yellowstone creator Taylor Sheridan, Hillwood, and Paramount Television in the form of SGS Studios, which was founded by Sheridan and, at 450,000 square feet, is now the largest production studio in the state of Texas.

“Film productions are happening all over the city of Fort Worth,” she noted. “You’ve seen Nicole Kidman walking around the streets of Fort Worth,” as she has been filming the third season of Lioness, a Paramount+ series, in the city.

These announcements “show real impact, capital flowing into our community, thousands of excellent jobs and momentum for Fort Worth’s economy.”

The future of warfare

Now the tenth largest city in the United States, Fort Worth offers a variety of tax incentives including tax abatements for new development. With a strategic location including excellent transportation access, strong leadership and a skilled and growing workforce, the city has become what Fort Worth EDP calls “a business climate designed for business success.”

To wit, MP Materials, the United States’ only fully integrated rare earth producer, will significantly expand the capacity of its Fort Worth magnetics facility. In July, it entered into a public-private partnership with the U.S. Department of Defense to accelerate the build-out of an end-to-end U.S. rare earth magnet supply chain and reduce foreign dependency.

“Rare earth magnets are one of the most strategically important components in advanced technology systems spanning defense and commercial applications. Yet today, the U.S. relies almost entirely on foreign sources,” explained MP Materials at the time. “This strategic partnership builds on MP Materials’ operational foundation to catalyze domestic production, strengthen industrial resilience, and secure critical supply chains for high-growth industries and future dual use applications.”

Apple has also committed to buying $500 million worth of rare earth magnets developed at MP Materials’ Fort Worth facility.

When MP Materials began its search for a manufacturing site, it “ran a very broad search. And when we started, Fort Worth was not at the top of the list at that time,” founder, chairman and CEO James Litinsky confided to Hillwood president Mike Berry yesterday evening.

Litinsky said he sat down with Hillwood founder Ross Perot Jr. and it became “very clear that this was a place that not only wanted our business but believed in our business. Perot assured that MP would have the full support of both Hillwood and of Fort Worth, and frankly beyond tax incentives and all the data the consultants will put in front of you, knowing that the leadership believed in us, that was the determining factor.”

Meanwhile, Fort Worth EDP is moving from strength to strength. Recently recognized by the IRS as a 501(c)(3) non-profit and boasting new offices on West 7th Street, it has been quietly building a target list of 500 companies, and in 2026 will launch a lead generation campaign in its target industries, including aerospace and defense, where it reckons it has a distinct advantage.

“Through the EDP, we’ve transformed how Fort Worth competes for and attracts and retains business here in our city,” noted Mayor Parker. “We’re no longer simply responding and playing defense, we’re on offense” and creating opportunities to “redefine” Fort Worth’s place in the global marketplace.

“We’re going to be proactive, we’re going to be strategic, and we’re going to be relentless in making the Fort Worth business case.”