Collins Aerospace received $5.5 million in state, local incentives to support the expansion.
RICHARDSON, Texas — This article was originally published by our content partners at the Dallas Business Journal. You can read the original article here.
A major aerospace supplier for defense contractors and commercial airlines is expanding its manufacturing and research operations in Richardson, a move expected to create more than 570 jobs in the city north of Dallas.
Collins Aerospace will renovate and expand two facilities on E. CityLine Drive and E. Renner Road. The project, which supports two separate federal contracts over the next five years, represents an investment of more than $57 million, according to a July 23 announcement.
To support the initiative, the company received a $3.7 million Texas Enterprise Fund grant and more than $1.8 million in additional incentives from the city of Richardson. The local package includes property and inventory tax rebates, along with a job creation grant.
The investment supports the city’s economic development strategy to attract innovative, high-impact employers. City officials are targeting several industries for expansion in the region, including advanced and additive manufacturing, professional and financial services, health and life sciences, technology and software, and research and development.
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