California-based DrinkPak LLC is moving ahead with North Texas expansion, a project that could bring 1,000 jobs and a $452 million investment to Fort Worth.
The contract manufacturer of alcoholic and non-alcoholic canned beverages will establish two new locations in the city, totaling about 2.8 million square feet. The expansion represents a significant win for Fort Worth as the city continues to make strides in attracting manufacturing.
The Business Journal first reported in August that DrinkPAK was circling the city for an expansion.
The two sites, located in Trammell Crow's 35 Eagle campus in southern Denton County and at Carter Park East in southeast Fort Worth, will manufacture energy drinks, sodas, waters, hard seltzers, canned cocktails, milk and milk-alternative beverages like canned cold brew and oat milk-based drinks.
"We are thrilled to expand our advanced manufacturing organization in Fort Worth and look forward to creating new jobs, working with local businesses, and becoming an integral part of the community,” DrinkPak CEO Nate Patena said in a statement. "The City of Fort Worth, Denton County and Tarrant County have been incredible partners in this process, and we are grateful for the opportunity to build two new state-of-the-art facilities that will enable us to manufacture more high-quality drinks for the best brands in the world."
The company expects to create 1,000 full-time jobs in Fort Worth. In return, the city passed a 10-year tax abatement of up to 70% of incremental real and business personal property — an estimated value of $21 million. This annual abatement will be forfeited if the company fails to meet the minimum $70,000 average annual salary requirement, and a proportional reduction will be required if both phase one and phase two employment numbers fall below 800 full-time jobs.
"We extend a warm welcome and our sincere thanks to DrinkPAK as they embark on their expansion journey in Fort Worth," Robert Allen, president and CEO of the Fort Worth Economic Development Partnership, said in a statement. "We are thrilled to have a company of DrinkPAK's caliber choosing North Texas as its new home. Their significant investment in our region, along with the creation of 1,000 new jobs, exemplifies their commitment to the growth and prosperity of our community."
DrinkPak committed to a combined investment of $452 million between the two phases of the project. Phase one would involve $37 million in real property improvements by the end of 2026 and $183 million in business personal property by January 2027.
"DrinkPAK will make a great new addition to Fort Worth's dynamic ecosystem of technologically-driven manufacturing companies," Fort Worth Mayor Mattie Parker said in a statement. "We appreciate their commitment and investment in our community, and look forward to welcoming them to Fort Worth."