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Bob on Business: Do you love Fort Worth? The rest of the world does too. by Bob Francis October 30, 2026 6:28 pm Enjoy reading the news again. Join over 110,000 neighbors who count on our newsletters for stories happening in your backyard. Sign up for free. "Fort Worth, I Love You," was once a locally popular Michael Martin Murphy tune in the early days of outlaw country music. The world has now opened their hymn book to sing along to that tune as well. The rest of the world may not get a red and blue tattoo on their bicep saying such, as the character in the song does, but they are putting their money where their mouth is to the tune of $1.9 billion in new capital investment so far this year, creating 4,100 new jobs. Those numbers can seem overwhelming, but Robert Allen, president and CEO of the Fort Worth Economic Development Partnership can break it down for you. "To put that into perspective, that is more than $5 million in new investment and more than 11 new jobs created every day in Fort Worth," he said. "The growth is real and the growth is for all of our community, not some of it. In a word, Fort Worth has momentum," Allen said at the privately funded nonprofit's annual event Thursday at the Hotel Drover. In 2026, the Fort Worth Economic Development Partnership managed more than 180 inbound projects and inquiries, including 13 wins and seven more in their final stages, Allen said. Project activity increased most in aerospace and defense, advanced manufacturing and corporate operations, he said. And the companies are coming from all over the world: Taiwan, Germany and Australia, to name a few of the new accents you may hear around town. Fort Worth now has the economic development skins on the wall to prove they are serious about doing business. It's not just those outside the area though that are putting down roots where the West begins. Allen pointed to Fort Worth's own Alcon which is investing $186 million to add two manufacturing lines at its campus here that will create 241 new jobs. The Fort Worth Economic Development Partnership was created in 2023, spun off from the Fort Worth Chamber of Commerce, to put some fuel on the city's economic development embers. That fuel seems to have caught fire. "Our inbound pipeline isn't just getting bigger, it's getting better," he said. "We have seen aerospace and defense projects double in volume from the previous year." The partnership is also seeing big increases in advanced manufacturing and corporate operations. "Our pipeline is more diverse than it's ever been," he said. Company timelines are shrinking in terms of how quickly they move from considering a site to making a decision, Allen said. "Companies are making location decisions faster than ever, and the ability to execute with speed and certainty now may determine whether a project happens at all," he said. The number of wins for the city shows that the Fort Worth economic development team can operate in this environment by moving quickly and efficiently. Even though the organization has only been around for about 2 1/2 years, Allen said he has seen a shift in the perception of Fort Worth. Since its beginning, the organization has seen the city receive $11.6 billion in capital investment and add 15,100 jobs. "Companies are calling on us, they are seeking us out," he told the Fort Worth Report. "That is all great. But we've still got to be diligent, still got to be at the top of our game. We still have to execute." But, he said, "momentum matters. Companies see other companies investing here. They see job growth. They see a city that's serious about its economic future." More economic wins... Two days after the Fort Worth City Council approved a package of incentives, Nvidia supplier King Yuan Electronics' subsidiary, AeternZ Semiconductor Testing, confirmed in a filing with the Taiwan Stock Exchange on Oct. 29 that it has purchased land and buildings in Fort Worth for $79.4 million. The project would be the company's first U.S. manufacturing facility. The property, at 273 W. Everman Parkway, includes 1.18 million square feet and about 489,500 square feet of buildings. It would be the largest investment to date in the Interstate 35W South corridor, according to a presentation to the city council by the Fort Worth Economic Development Department. At an Oct. 27 meeting, city council unanimously approved a 10-year tax abatement agreement for up to 65% of city taxes for AeternZ Semiconductor. The incentives have an estimated value of $50 million. The new plant is expected to generate about $26.8 million in new taxes over the term of the agreement. To receive the tax abatement, the company would have to have made a minimum capital investment of $1.3 billion by December 2028, split between $1 billion in real property improvements and $300 million in business equipment, according to the council presentation. AeternZ Semiconductor would also be required to have hired 630 full-time employees with a minimum average salary of $80,000, with an estimated annual payroll of $50 million. The company started construction on a part of the $300 million project that involves renovating and expanding a 500,000-square-foot building, according to a filing on the Texas Department of Licensing and Regulation site made on Oct. 28. Construction should be completed by August 2027. AeternZ Semiconductor is a subsidiary of Taiwan's King Yuan Electronics Co., which has over 9,500 employees and has annual revenues of $1.02 billion. King Yuan is a supplier to chip maker Nvidia and other semiconductor manufacturers, providing wafer probing, final product test and assembly service for the semiconductor back-end supply chain. According to Reuters, the company announced in June it was planning to invest $1.4 billion in the U.S. to support its growth and strengthen its supply chain. And more on the way... Lighthouse Electric Co., a Pittsburgh-based electrical contracting firm specializing in complex electrical system design is considering Fort Worth for a plant that builds modular electric solutions for off-site manufacturing environments. The city council heard a presentation on the project that could bring 600 jobs with an average annual salary of $91,000 and an investment of $30 million. One other city is competing for the project. Lighthouse established a company, Beacon Modular, to manufacture the product line, which has seen growth in recent years, according to the presentation from the Fort Worth Economic Development Department. The project would be valued at $30 million, with $27 million in business equipment and $3 million in property and improvements. The city would offer Beacon a five-year incentive package with $100,000 in grants, up to $500,000 from the Economic Development Incentives Fund. Beacon Modular is also applying for funds from the Texas Enterprise Fund. The company would have to have $250 million or above in annual taxable sales required to maximize the annual grant at $100,000, according to the presentation. If Fort Worth is selected, the company would operate out of Gateway Alliance 71, 4801 Henrietta Creek, in the AllianceTexas development. Council members will vote on the agreement at their Nov. 10 meeting. Do you have news for Bob on Business? Contact Bob Francis, business editor for the Fort Worth Report, at [email protected]. Disclosure: Hillwood is a contributor to the Fort Worth Report. News decisions are made independently of our board members and financial supporters. Read more about our editorial independence policy here.

Alcon has acquired Neurotech Pharmaceuticals for $550 million, adding a rare eye disease therapy to its retina portfolio. The Geneva-based eye care company may owe further contingent payments, including on commercial milestones. Neurotech's ENCELTO is the first and only US Food and Drug Administration (FDA) approved treatment for adults with idiopathic Macular Telangiectasia Type 2 (MacTel). The FDA approved it in March 2025, and it is available only in the US. MacTel is a progressive retinal disease that causes irreversible central vision loss. About 25,000 people in the US have been diagnosed, with 2,000-3,000 new cases each year. Alcon expects the deal to be slightly dilutive to core diluted earnings per share in 2027, and accretive after that.