Jago Times "English Edition" Best Online Newspaper
Related Articles
Arlington will offer tax incentives to a global electric vehicle charging manufacturer to build a manufacturing plant in the city.
Spain-based Wallbox will receive a grant each year between 2023 and 2029 equal to 80% of its city property tax bill, according to an agreement passed by the city council on Tuesday.
In addition, the city will waive the company’s building permit fees for property improvements and redevelopment of the 129,000-square-foot facility at 2240 Forum Drive.
Under the agreement, the company must add at least $20 million in taxable value by 2025 and $30 million by 2028, and it must create and maintain at least 200 jobs.
Wallbox will save an estimated $160,000 a year, for a total of $1.1 million, according to city documents. But that does not include the waived fees. Meanwhile, the city expects to make $90,000 in new tax revenue during the agreement term.
By 2030, Wallbox is expected to create 250 advanced manufacturing jobs in the area, and it anticipates producing 500,000 chargers annually.
Wallbox has a presence in 68 countries, including two factories in Europe and one in China.
The company plans to leverage the new Arlington facility — the company’s first manufacturing plant in North America — to expand across the North American market. It has said it chose Arlington for its central location in the country as well as access to the major highway systems in North Texas.
Wallbox offers an at-home charging system for electric vehicle owners called Pulsar Plus, which became an Amazon best-seller this year.