{"id":1004050189,"date":"2012-09-10T11:08:34","date_gmt":"2012-09-10T19:08:34","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=67195"},"modified":"2022-12-09T02:02:44","modified_gmt":"2022-12-09T10:02:44","slug":"ge-to-open-fort-worth-plants-in-fourth-quarter","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/ge-to-open-fort-worth-plants-in-fourth-quarter\/","title":{"rendered":"GE to Open Fort Worth Plants in Fourth Quarter"},"content":{"rendered":"

\"\"<\/a>By Camelia Bulea, Associate Editor<\/p>\n

GE Transportation has invested $190 million to build two locomotive and mining equipment plants in Fort Worth, with plans to open them in the fourth quarter of this year.<\/p>\n

According to the Star-Telegram<\/em>, the company announced in May that it would spend about $96 million to convert and expand an existing facility totaling about 500,000 square feet in north Fort Worth for locomotive production. A few months later, the company announced a second investment in the area: $95 million to add an adjacent 400,000-square-foot plant to manufacture drive systems for mining equipment.<\/p>\n

GE plans to hire approximately 500 machinists, assemblers, skilled welders and maintenance technicians for these plants, according to the Dallas Business Journal<\/em>. In addition, having\u00a0been granted an 85 percent tax abatement for 10 years, it has agreed to spend at least $5 million with Fort Worth construction contractors and at least $200,000 annually with Fort Worth companies, according to an article published in GoErie.com<\/em> at the beginning of this year.<\/p>\n

Both the Fort Worth plant and the company’s manufacturing site in Erie, Pa, will build the Tier 4 Evolution Series Locomotives, which will be the cleanest and most fuel efficient on the market, GE officials said in a recent statement. Additionally, GE will produce its Tier 4 compliant diesel engines at its manufacturing plant in Grove City, Pa. According to a company news release, the new locomotive will decrease constituent emissions by more than 70 percent and save railroad customers\"\"<\/a> more than $1.5 billion in infrastructure and operational costs.<\/p>\n

Marcus & Millichap reports that following a recovery in the Dallas-Fort Worth industrial market last year, growth in demand will foster significant improvements for industrial property owners in 2012. Aside from owner-user space, developers will complete 780,000 square feet of competitive space this year. Last year, projects totaling 1.6 million square feet were completed, as depicted in the chart at left.<\/p>\n

Charts courtesy of Marcus & Millichap<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

By Camelia Bulea, Associate Editor GE Transportation has invested $190 million to build two locomotive and mining equipment plants in Fort Worth, with plans to open them in the fourth quarter of this year. According to the Star-Telegram, the company announced in May that it would spend about $96 million to convert and expand an […]<\/p>\n","protected":false},"author":271,"featured_media":1004506421,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1586,21742],"tags":[],"class_list":["post-1004050189","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dallas","category-latest"],"acf":[],"yoast_head":"\nGE to Open Fort Worth Plants in Fourth Quarter - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/ge-to-open-fort-worth-plants-in-fourth-quarter\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"GE to Open Fort Worth Plants in Fourth Quarter\" \/>\n<meta property=\"og:description\" content=\"By Camelia Bulea, Associate Editor GE Transportation has invested $190 million to build two locomotive and mining equipment plants in Fort Worth, with plans to open them in the fourth quarter of this year. 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