STRATEGIC PRIORITY: Economic Development
AGENDA DATE: December 11, 2024
COUNCIL DISTRICT(S):|910|DEPARTMENT: Office of Economic Development
EXECUTIVE: Robin Bentley
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SUBJECT
Title
Authorize a Chapter 380 Economic Development Grant Agreement in an amount not to exceed $500,000.00 with HAECO Global Engine Support, LLC and/or its affiliate in consideration of a new aviation engine repair facility to be located at 11124 Goodnight Lane, Dallas, Texas 75229 including requirements for (a) the relocation and/or creation of 170 full-time jobs to the city of Dallas subject to a minimum 25% local hiring requirement; and (b) required minimum private investment of $17.5 million, in accordance with the City of Dallas Economic Development Incentive Policy - Not to exceed $500,000.00 - Financing: Public/Private Partnership Fund
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BACKGROUND
HAECO Global Engine Support, LLC ("HAECO") is a North Carolina-headquartered commercial aviation maintenance, repair, and operations company that is currently ranked #1 in the world. The engine support component of the company, presently located in Carrollton, Texas, is taking on an additional work component. New service capability and business from overseas is planned, focused on the engines powering the A320/321 and 737 NG/MAX aircrafts. The new engine support unit will be the primary location in North America for what is known as "engine hospital" repair work, which includes repair work for aircraft on the ground, larger repairs that may involve splitting engines into large components so they can be moved, or repair of internal components inside the engine that are then tested and reinstalled on the aircraft. This additional work component would start in 2025, and HAECO will need to expand operations to accommodate the additional components necessary for the new responsibilities. The current Carrollton facility is not large enough to house the expanded labor forc...
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