A $1.25 billion-plus company investment will create over 1,500 jobs, dramatically expand domestic manufacturing capacity, and strengthen America’s supply chain independence

Significant state and local incentive package and 10-year Pentagon offtake commitment support rapid buildout and production expansion

Historic milestone fulfills a key pillar of MP’s public private partnership with the U.S. Department of War 

Northlake, Texas, February 26, 2026 — MP Materials Corp. (NYSE: MP) today announced it has selected a 120-acre site in Northlake, Texas, to develop “10X,” the company’s planned large-scale rare earth magnet manufacturing campus. Located less than 10 miles from MP’s existing Independence facility in Fort Worth, the new campus will cement North Texas as the center of gravity for the United States’ rare earth magnet supply chain.

10X will significantly expand MP’s fully integrated U.S. rare earth magnetics manufacturing platform, which already encompasses mining and refining, metallization and alloying, sintering, finished magnet production, and closed-loop recycling. Once operational, the new campus is expected to contribute to the company’s total production capacity of approximately 10,000 metric tons of NdFeB rare earth magnets per year, dramatically advancing the nation’s ability to produce these strategic components domestically. 

MP expects to invest more than $1.25 billion in the project and create more than 1,500 direct manufacturing and engineering jobs at the site. The company anticipates breaking ground imminently. Engineering and equipment procurement is well underway, with commissioning set to commence in 2028.

The decision to expand in North Texas reflects the world class workforce and deep manufacturing expertise in the region, both of which are critical to scaling a complex and globally competitive rare earth magnetics capability in the U.S.

This project is enabled by the State of Texas, Denton County, and the City of Northlake, which have approved a comprehensive incentive package totaling roughly $200 million over more than a decade, including grants, abatements and exemptions. The package includes more than $66 million in grants from the Texas Enterprise Fund (TEF) and Texas Semiconductor Innovation Fund (TSIF), underscoring Texas’ leadership in next-generation manufacturing.

The site to be acquired from Hillwood is within the AllianceTexas development and was selected following a national site evaluation process led by CBRE.

Advancing U.S. National and Economic Security Objectives Under Partnership with Department of War 

10X is a cornerstone of MP’s previously announced public-private partnership with the U.S. Department of War (DoW), which was established in July 2025 to accelerate U.S. rare earth magnet independence. This partnership provides long term demand certainty to support the rapid build out of domestic magnet manufacturing capacity, while keeping the 10X facility wholly owned and operated by MP Materials. These magnets underpin technologies central to economic resilience and national security, including drones, robotics, AI data centers, electrification, and advanced semiconductor fabrication.

Building on MP Materials’ Strong Foundation and Proven Track Record

MP Materials’ Independence facility began commercial metal production in 2024, followed in 2025 by first alloy flake and finished magnet production on commercial equipment, restoring end-to-end production capabilities in the United States for the first time in decades. The experience, technical talent, and supplier ecosystem developed through Independence form the foundation for 10X and give MP a significant advantage in scaling advanced magnet manufacturing in the U.S.

10X will incorporate next-generation NdFeB magnet manufacturing technologies, including an MP-developed Grain Boundary Diffusion (GBD) process and other innovations that significantly reduce or eliminate heavy rare earth requirements entirely while maintaining high coercivity and thermal stability. The light and heavy rare earth raw materials necessary to support 10X will be sourced from MP’s processing facility in Mountain Pass, California. Scrap from Texas magnet production will be reintegrated into MP’s short-loop and long-loop recycling circuits in Texas and California, tightening circularity and cost performance across the platform.

MP’s commercial relationships include long term commitments from some of America’s most important and technologically sophisticated end users of rare earth magnets, including a long term magnet supply agreement with General Motors and collaboration with Apple to build an innovative rare earth recycling and magnet production system—reflecting broad confidence among leading industrial and consumer technology manufacturers in the strength and reliability of a fully integrated U.S. production platform.

Strong Support for U.S. End-to-End Rare Earth Independence

James Litinsky, Founder, Chairman & CEO, MP Materials:

“10X is about building industrial strength at a scale the United States has not seen in generations, and the exceptional talent and infrastructure in North Texas make it possible. We are advancing key objectives under our public-private partnership with the Department of War and accelerating America’s rare earth and magnet independence with an uncompromising focus on speed, execution, and delivery.”

Texas Governor Greg Abbott:

“Hardworking Texans will advance America’s semiconductor manufacturing independence. This Texas-sized investment by MP Materials in Northlake will create more than 1,500 manufacturing and engineering jobs and dramatically expand domestic manufacturing of rare earth magnets to reduce reliance on foreign supply chains. This expansion in North Texas reflects the strength of our skilled and growing workforce and our deep advanced manufacturing expertise. Working together with innovative industry partners, Texas will accelerate America’s leadership for decades to come.” 

U.S. Senator John Cornyn of Texas:

“MP Materials’ plan to build a new Magnet Manufacturing Campus in Northlake is great news for Texas. I look forward to seeing how this expansion will bolster Texas’ economy, create opportunities for innovation, and strengthen our national security.”

U.S. Senator Ted Cruz of Texas:

“The Chinese Communist Party represents the most acute national security threat to the United States, yet we remain dependent on the CCP for critical minerals. MP Materials is building the infrastructure needed to undo that dependence and bolster American national security. The expansion of MP Materials’ rare earth manufacturing facility in Northlake, Texas will advance these goals while creating high-quality jobs in the Lone Star State.”

Ross Perot Jr., Chairman, Hillwood:

“AllianceTexas continues to attract advanced manufacturing that creates jobs, diversifies our economy, and strengthens America’s supply chain. MP Materials has been a strong partner, and this competitive project demonstrates how city, county, and state leaders work together to secure significant new investment in North Texas.”

To be located in Northlake within Hillwood’s AllianceTexas development, 10X will be close to MP’s existing Independence rare earth magnet facility in Fort Worth. The new campus will create over 1,500 jobs and “will cement North Texas as the center of gravity for the United States’ rare earth magnet supply chain,” MP said.

Las Vegas-based MP Materials (NYSE: MP) plans to develop a large-scale rare earth magnet manufacturing campus north of Fort Worth with a $1.25 billion investment that will create over 1,500 manufacturing and engineering jobs. The project will “dramatically expand domestic manufacturing capacity,” the company said, while “strengthening America’s supply chain independence.”

The 120-acre site in Northlake is being acquired from Dallas-based Hillwood. It lies within Hillwood’s massive AllianceTexas development and was selected following a national site evaluation process led by Dallas-based CBRE. The site is fewer than 10 miles from MP’s existing Independence rare earth magnet facility in Fort Worth.

MP plans to break ground on the new facility “imminently” and said engineering and equipment procurement is “well underway,” with 10X slated for commissioning in 2028. The new campus “will cement North Texas as the center of gravity for the United States’ rare earth magnet supply chain,” the company added.

James Litinsky, co-founder, chairman, and CEO of MP Materials, said 10X “is about building industrial strength at a scale the United States has not seen in generations, and the exceptional talent and infrastructure in North Texas make it possible.”

“We’re advancing key objectives under our public-private partnership with the Department of War and accelerating America’s rare earth and magnet independence with an uncompromising focus on speed, execution, and delivery,” Litinsky added in a statement.

Expanding MP’s rare earth magnetics manufacturing

The company said 10X will “significantly expand” its fully integrated U.S. rare earth magnetics manufacturing platform, which already encompasses mining and refining, metallization, and alloying, sintering, finished magnet production, and closed-loop recycling.

When it’s up and running, 10X is expected to contribute to the company’s total production capacity of around 10,000 metric tons of NdFeB rare earth magnets per year—”dramatically advancing the nation’s ability to produce these strategic components domestically.”

All things led to North Texas—including $200M in incentives

MP Materials said its decision to expand in North Texas reflects the region’s “world-class workforce and deep manufacturing expertise,” both of which it called critical to scaling a complex and globally competitive rare earth magnetics capability in the U.S.

The company had economic incentives for selecting the Northlake site, too. The state of Texas, Denton County, and the city of Northlake have approved a comprehensive incentive package totaling roughly $200 million over more than a decade, including grants, abatements and exemptions. More than $66 million in grants from the Texas Enterprise Fund (TEF) and Texas Semiconductor Innovation Fund (TSIF) are part of that package, the company noted.

According to Texas Governer Greg Abbott, the TEF grant of $12,880,500 was extended to MP Materials for the development of the campus’ corporate operations. A TSIF grant of $53,457,500 was also extended for the manufacturing facility on the new campus that’s expected to scale the company’s capacity to produce neodymium-iron-boron (NdFeB) magnets, which are a critical component for semiconductor manufacturing.

According to local public records and published reports, Denton County commissioners approved a 10-year tax abatement covering 50% of MP’s real and personal property taxes, capped at $9.3 million, while the town of Northlake voted unanimously in January on a 10-year, 50% property-tax abatement within a special financing district and a Chapter 380 agreement that adds a construction sales-tax rebate and up to $1 million in job-creation grants.

MP Materials has also gotten big boosts from the private sector for its rare earth magnet platform. Last July, Apple struck a $500 million deal to buy rare earth magnets from the company—with the magnets to be developed from 100% recycled materials at MP Materials’ flagship manufacturing plant in Fort Worth.

Commercial support from leading American companies also includes a long-term magnet supply agreement between MP and General Motors.

Advances Department of Defense partnership

MP Materials called 10X “a cornerstone” of its previously announced public-private partnership with the U.S. Department of Defense, which was established in July 2025 to accelerate U.S. rare earth magnet independence.

That DoD partnership “provides long-term demand certainty to support the rapid build-out of domestic magnet manufacturing capacity,” the company said, while keeping the 10X facility wholly owned and operated by MP Materials.

The magnets to be produced at 10X will underpin technologies that are key to both economic resilience and national security, MP said—including drones, robotics, AI data centers, electrification, and advanced semiconductor fabrication.

Production began at Fort Worth plant in 2024

MP Materials’ nearby Independence facility in Fort Worth began commercial metal production in 2024, followed in 2025 by first alloy flake and finished magnet production on commercial equipment, MP said—noting that the moves restored end-to-end production capabilities in the U.S. “for the first time in decades.”

The company said experience, technical talent, and the supplier ecosystem developed at the Independence plant “form the foundation” for 10X,  giving MP “a significant advantage” in scaling advanced magnet manufacturing in the U.S.

Details of what 10X will roll out

MP said the 10X facility will incorporate next-generation NdFeB magnet manufacturing technologies, including an MP-developed Grain Boundary Diffusion (GBD) process and other innovations that “significantly reduce or eliminate” heavy rare earth requirements entirely while maintaining high coercivity and thermal stability.

The light and heavy rare earth raw materials needed at 10X will be sourced from MP’s processing facility in Mountain Pass, California, the company said. Scrap from Texas magnet production will be reintegrated into MP’s short-loop and long-loop recycling circuits in Texas and California, tightening circularity and cost performance across the platform.

Project lauded by stakeholders, political leaders

“Hardworking Texans will advance America’s semiconductor manufacturing independence,” Texas Governor Greg Abbott said, adding that the 10X campus “will dramatically expand domestic manufacturing of rare earth magnets to reduce reliance on foreign supply chains.”

“This expansion in North Texas reflects the strength of our skilled and growing workforce and our advanced manufacturing expertise,” the governor added in a statement. “Working together with innovative industry partners, Texas will accelerate America’s leadership for decades to come.”

Senator John Cornyn called the project “great news for Texas,” adding that he looks forward to seeing how the expansion “will bolster Texas’ economy, create opportunities for innovation, and strengthen our national security.”

Senator Ted Cruz stressed the project’s geopolitical urgency.

“The Chinese Communist Party represents the most acute national security threat to the United States, yet we remain dependent on the CCP for critical minerals,” Cruz said in a statement. “MP Materials is building the infrastructure needed to undo that dependence and bolster American national security. The expansion of MP Materials’ rare earth manufacturing facility in Northlake…will advance these goals while creating high-quality jobs in the Lone Star State.”

Hillwood Chairman Ross Perot Jr. welcomed the key addition within his company’s AllianceTexas footprint.

“AllianceTexas continues to attract advanced manufacturing that creates jobs, diversifies our economy, and strengthens America’s supply chain,” he said. “MP Materials has been a strong partner, and this competitive project demonstrates how city, county, and state leaders work together to secure significant new investment in North Texas.”

MP Materials plans to invest more than $1.25 billion in its upcoming large-scale rare-earth magnet manufacturing campus in Northlake, Texas, fulfilling a key component of its partnership with the U.S. Defense Department.

The new campus, dubbed “10X”, builds on its existing manufacturing capacity in North Texas, adding to its current facility in Fort Worth, the U.S.’s largest rare-earths miner said Thursday.

MP Materials expects to create more than 1,500 direct manufacturing and engineering jobs at the site, and engineering and equipment procurement is underway. The facility is expected to come online in 2028.

Once operational, the factory is set to contribute to the company’s total production capacity of around 10,000 metric tons of rare earth magnets per year, advancing the U.S.’s ability to produce these components locally, said MP Materials.

This comes after the miner struck a deal for the Defense Department to take a 15% stake in the company in July last year. The deal called for MP Materials build a new factory to make rare-earth magnets at a scale that vastly exceeds current U.S. magnet production, aiming to undercut China’s rare-earth dominance.

Rare-earth magnets, which are needed in industrial products such as automobiles, wind turbines, jet fighters and missile systems, have been at the center of the recent U.S.-China trade war.

Beijing began limiting rare-earth exports after President Trump imposed high tariffs on Chinese goods in April last year. The two countries reached a trade truce in June, but the threat of a future cutoff of supplies remain.

MP Materials’ new manufacturing campus therefore accelerates America’s rare earth and magnet independence, said James Litinsky, the miner’s chair and chief executive.

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Business is booming in AllianceTexas. The 27,000-acre business hub in north Fort Worth says it generated $12.9 billion in economic impact in 2025 and roughly $50 billion in the last five years. That accounts for more than a third of the hub’s $142.9 billion impact to the North Texas region since its inception in 1990. “The economy here is stronger than I’ve ever seen it,” Hillwood president Mike Berry said, speaking at a Fort Worth City Council work session Tuesday. Dallas-based Hillwood is the developer of AllianceTexas. He acknowledged national and global issues have created economic uncertainty, but said that uncertainty appears to be driving business to North Texas. Berry credited the development’s long-term partnership with the city, which started with the creation of the world’s first solely industrial airport, as key to its success.

He pointed to other partnerships, including a 10-year tax abatement for artificial intelligence parts manufacturer Wistron Technologies, that helped bring a new manufacturing plant to the Alliance business district.

That deal helped bring three other companies working on advanced manufacturing related to AI, creating a combined 4,400 jobs in the last six months, Berry said.

Across the business district, AllianceTexas now supports roughly 73,000 jobs, according to Berry’s presentation.

It’s also generated around $904 million in property taxes for the city of Fort Worth, three times the amount the $319 million that the city has invested in the district, according to a Hillwood economic impact report.

Berry also referenced a 2025 Texas Comptroller report that calculated the district had a roughly $16 billion impact on the state’s economy in 2024 Moving forward, Berry credited the city for creating the 14,000 acre Alliance Logistics District, which paved the way for innovations in self-driving truck and smart port technology.

“It may not sound very cool, but it will be one of the most unique inland ports in the country,” Berry said.

In a press release announcing Hillwood’s economic impact report, Mayor Mattie Parker praised the development’s impact on the city.

“Fort Worth continues to be one of the fastest-growing cities in the country, and AllianceTexas is playing a significant role in shaping our opportunity potential,” Parker said in the press release.

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AllianceTexas, Hillwood’s 27,000-acre master-planned, mixed-use development in north Fort Worth, stands as one of the most successful public-private economic development models in the nation, driving transformative growth and industry diversification at an unprecedented scale. Over the past 36 years, it has generated an estimated $142.9 billion in regional economic impact, including $12.9 billion in 2025 alone, according to Insight Research Corporation’s annual report. 

Total investment in AllianceTexas reached $18.3 billion in 2025, including $16.7 billion from the private sector and $1.6 billion in public investment (roads, schools, public safety facilities and other infrastructure), representing a roughly 10-to-1 private-to-public investment ratio.

See the full AllianceTexas Annual Economic Impact Report here.

AllianceTexas is now home to 602 companies and directly supports 73,134 jobs. Since 1989, 64.7 million square feet of office, retail, and industrial space have been developed. The AllianceTexas development features corporate headquarters, healthcare providers, higher education centers, shopping and entertainment destinations and thoughtfully planned residential neighborhoods.

“AllianceTexas is a powerful example of sustained growth and continued exponential return on investment for our public partners and the residents of the communities we serve,” said Mike Berry, president of Hillwood. “The momentum we’re seeing with industry leaders like Wistron, MP Materials, Embraer, and even SGS Studios reflects the power of strong collaboration and a shared vision for the future. What we’re building together is just the beginning of a generational opportunity for Texas.”

Beyond regional economic impact, the Texas Comptroller’s office recently recognized AllianceTexas as the primary inland port for the southwestern United States. Their study found that, as a port, AllianceTexas contributed $834.6 million to Texas port trade in 2024, a 550.7% increase since 2016. As well as port activity contributing $16.3 billion to the State’s GDP and supporting approximately 137,000 jobs in 2024. During a recent visit to the development, Acting Texas Comptroller Kelly Hancock stated, “AllianceTexas is a clear example of how forward-thinking infrastructure keeps our economy strong and competitive worldwide.”

Recent AllianceTexas highlights include:

• SGS Studios: Hillwood partnered with Taylor Sheridan’s SGS Studios to develop Texas’ largest production campus, spanning 450,000 square feet and accommodating four major productions simultaneously. The campus positions Fort Worth as a national entertainment hub, supported by a workforce pipeline through Tarrant County College, which is currently training 150 students and will soon train an additional 300. In 2025, Paramount Television fully activated the campus, producing Landman Season 2, which broke Paramount+ viewing records, along with three additional series. SGS Studios has created over 3,800 direct jobs.

• Wistron AI Advanced Manufacturing Facilities: Wistron, one of the world’s largest electronics manufacturers, is investing $761 million in 1.1 million square feet of AI supercomputing facilities at AllianceTexas, creating 800 jobs and strengthening North Texas’ position in advanced technology manufacturing and the border reshoring movement that brings critical manufacturing, logistics and innovation back to the U.S.

• Embraer MRO Expansion: Embraer, a global leader in the aerospace industry, opened a new MRO facility at Perot Field Fort Worth Alliance Airport and began operations while kicking off construction on a second hangar that is slated for completion in 2027. This $70 million investment will create 250 aviation jobs and increase U.S. service capacity by 53%.

• The Alliance Logistics District: The 1,400-acre Alliance Logistics District is a first-of-its-kind mobility hub within the Smart Port at AllianceTexas. Developed with BNSF and the City of Fort Worth, it enables autonomous or semi-autonomous vehicle deployment, CDL-exempt private hostler operations between the intermodal facility and nearby warehouses, and permit-free heavy-haul movements of over 80,000 pounds. Hillwood is also investing $20 million in a heavy-haul bridge that directly connects 15 million square feet of industrial space to BNSF’s intermodal facility, easing public road congestion.

“Fort Worth continues to be one of the fastest-growing cities in the country, and AllianceTexas is playing a significant role in shaping our opportunity potential,” said Fort Worth Mayor Mattie Parker. “From advanced manufacturing and AI to aviation, logistics and film production, we are building a diversified, future-ready economy that creates high-quality jobs and strengthens our position nationally. Strategic investments like these reinforce Fort Worth as a city where innovation thrives, infrastructure leads and opportunity continues for generations to come.” 

Further strengthening its industrial footprint, Hillwood expanded its largest-ever speculative industrial construction pipeline at AllianceTexas, with four buildings totaling more than 3.4 million square feet currently under construction.

Geographically, AllianceTexas encompasses nine municipalities, five independent school districts and two counties. Since 1990, $4.6 billion has been paid in property taxes cumulatively to the Cities of Fort Worth, Haslet, Roanoke, Northlake, Westlake and Corral City; Tarrant and Denton Counties; and Northwest, Keller, and Argyle Independent School Districts (City of Denton, Denton ISD, the City of Justin, and the City of Argyle were not included in the 2025 report, as development is still forthcoming). In 2025 alone, the project contributed $366.5 million in property taxes to these local entities.

Hillwood is planning another million-square-foot industrial space in northern Fort Worth.

Hillwood, the developer of the 27,000-acre AllianceTexas project, plans to break ground in February on Alliance Westport 12, a roughly 1.2 million-square-foot building. The company plans to finish the development in early 2027.

Westport 12 will be located at the northwest corner of Mobility Way and Distribution Drive and will feature 278 trailer parking spaces that could expand to 569 total. Bank of America is financing the project. GSR Andrade Architects designed Westport 12. Westwood Professional Services is providing civil engineering and Hillwood Construction Services is the general contractor. While the company didn’t list the cost of construction, a state filing pegs the estimated cost at $47.6 million.

Samuel Rhea, vice president of industrial leasing for Hillwood, said in a statement that the company is seeing demand that “has reaffirmed the need for million-square-foot-plus facilities.”

The new industrial space will be in Hillwood’s mobility logistics hub anchored by BNSF’s Alliance Intermodal Facility, where city lawmakers approved in November 2025 the creation of a new zone intended to make the movement of goods easier. Within the so-called “smart port,” the city waived certain requirements and fees for overweight vehicles. Fort Worth City Council also adopted a resolution supporting the use of hostler trucks and autonomous vehicle technology.

Hillwood expects to begin construction of a private bridge connecting Alliance Westport to BNSF’s facility this month, with completion expected by 2027. That bridge and other transportation links can cut drayage costs for companies by up to 60%, Rhea claimed, “creating a meaningful competitive advantage.”

Overall, Hillwood has 3.4 million square feet of speculative industrial buildings under construction at AllianceTexas. Hillwood partnered with Taylor Sheridan’s SGS Studios to launch the largest operating film and television production campus in the state at Alliance Center East 2 and 3, which was completed last year.

State filings indicate Hillwood is also planning a $140 million expansion and improvement of an industrial space at Alliance Center North, with construction estimated to start in March. A filing with the Texas Department of Licensing and Regulation states the proposed project would entail about 371,160 square feet of tenant improvements to the west side of the building at 15301 N. Beach St. and 55,000 square feet of improvements including two floors of offices and break rooms. Hillwood did not comment on the plans. Information in TDLR filings is often preliminary and subject to change.

Hillwood’s Westport 14 was purchased by Taiwanese company Wistron Corp., where the company is investing more than $750 million as it partners with Nvidia to build supercomputers.

Currently, the northern Fort Worth/Alliance submarket has 8.6 million square feet of industrial space under construction, including projects not by Hillwood, according to CoStar data. That’s the most nationwide, although it’s still down from a peak of 14 million square feet hit in 2022. A large portion of the space is being developed near the BNSF facility at Alliance, with the largest single building being a 1.25-million-square-foot facility for Lennox.

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Hillwood announces the construction of Alliance Westport 12 at AllianceTexas, the company’s 27,000-acre master-planned, mixed-use development. The new 1,219,034-square-foot Class A industrial building will offer customers a prime location within the newly established Alliance Logistics District—a first-of-its-kind mobility logistics hub anchored by BNSF’s Alliance Intermodal Facility. Construction is scheduled to begin in February 2026, with completion expected in Q1 2027.

Hillwood’s approach—delivering ready-to-occupy facilities in a range of sizes—continues to respond to evolving market demand. Alliance Westport 12 builds on that strategy, with Hillwood currently under construction on four speculative industrial buildings totaling more than 3.4 million square feet at AllianceTexas.

As part of the Alliance Logistics District, Alliance Westport 12 is designed to provide operators greater flexibility and a more efficient, cost-effective cargo flow. Planned capabilities include autonomous or semi-autonomous vehicle deployment, CDL-exempt private hostler operations between the intermodal facility and nearby warehouses, and permit-free heavy-haul movements for loads exceeding 80,000 pounds. Construction on Hillwood’s private bridge connecting Alliance Westport to BNSF’s Alliance Intermodal Facility begins this month, with completion expected by 2027.

“Alliance Westport 12 advances the logistics efficiencies and features set in our speculative industrial program,” said Samuel Rhea, vice president of Hillwood. “The demand we are seeing has reaffirmed the need for million-square-foot-plus facilities. When those buildings are paired with immediate intermodal access using Hillwood’s private bridge, customers can realize drayage cost savings of up to 60%, creating a meaningful competitive advantage.”

Designed to support next-generation logistics and advanced manufacturing, Alliance Westport 12 will also benefit from convenient access to Perot Field Fort Worth Alliance Airport (AFW) and BNSF’s Alliance Intermodal Facility—connecting users to the region’s cargo ecosystem, including the FedEx Ground Hub, two UPS Ground Sort Hubs, the FedEx Express Southwest Regional Air Hub and the Amazon Air Regional Hub.

Hillwood also has a strong record of delivering customer-driven solutions that allow speculative buildings to expand to meet tenant requirements while maintaining aggressive schedules—demonstrated by recent speed-to-market projects for Southwire and Wistron, as well as a specialized buildout for SGS Studios.

Located at the northwest corner of Mobility Way and Distribution Drive, Alliance Westport 12 will feature a 40-foot clear height, 640-foot building depth with 70-foot loading bays and 278 trailer parking spaces expandable to 569 total onsite. The facility will include 3,000 amps of power in a cross-dock configuration with 190-foot truck courts. 

Alliance Westport 12 will also benefit from Denton County’s low tax rate and a range of economic incentives, including the Triple Freeport Inventory Tax Exemption and Foreign Trade Zone status within Alliance FTZ #196. The project has access to a Centralized Examination Station and U.S. Customs and Border Protection services.

In addition, the building’s customers will have access to workforce recruitment, training and retention resources through the Alliance Workforce Center, Tarrant County College’s Corporate Training Center and the Center of Excellence for Aviation, Transportation and Logistics (CEATL).

The project is designed by GSR Andrade Architects. Civil engineering services were provided by Westwood Professional Services, and Hillwood Construction Services will serve as the general contractor. Alliance Westport 12 is financed by Bank of America.

AllianceTexas, Fort Worth’s vast 27,000-acre development, has undergone a vast transformation since Ross Perot Jr. began buying property in the area in the 1980s. In November, the city of Fort Worth — along with the Dallas-based developer Hillwood and BNSF — announced the creation of the Alliance Logistics District, a 1,400-acre “mobility logistics hub” that allows the use of autonomous vehicles to transport goods between BNSF’s intermodal facility and Alliance warehouses.

Within that logistics hub, a $20 million three-lane bridge will connect the BNSF intermodal facility and Alliance’s container depot. Semitrucks transporting goods will be able to traverse the bridge, but it will also be open to the autonomous semi trucks that have been operating in the Alliance Logistics District since it was approved by City Council in November. The bridge, which will be built over FM 156, will be blocked off to regular traffic using an automated gate, according to Hillwood. Construction is expected to be completed late this year. Nicholas Konen, vice president of strategic development at Hillwood, said that the bridge is meant to “significantly improve freight flow while reducing truck traffic on public roads.” According to Hillwood, AllianceTexas serves as the primary inland port for the southwestern United States.

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Futuristic air taxis may soon join drones in the skies over North Texas.

The North Texas Council of Governments, a regional planning organization, is seeking permission from the Federal Aviation Administration (FAA) to run a pilot project for testing unpiloted electric-powered aircraft that take off and land vertically. The council filed its application on Wednesday, January 21.

Members of the council are counties, cities, school districts, and other government organizations in a 16-county region anchored by Dallas-Fort Worth.

Among the airports that would be partners in the pilot project are Dallas Fort Worth International Airport, Arlington Municipal Airport, Perot Field Fort Worth Alliance Airport, and Fort Worth Meacham International Airport.

Roger Venables, Fort Worth’s aviation director, says he foresees regular air taxi service becoming a reality within the next five years. At Meacham, for instance, air taxis could shuttle passengers to and from Dallas Fort Worth International Airport and Dallas Love Field.

Meacham and Spinks serve private aircraft, such as business jets, while Perot Field serves cargo aircraft.

“We’re looking to embrace the next evolution of air transportation, particularly within an urban environment,” Venables says of vertical takeoff and landing aircraft. “Our airports experience relatively low congestion compared to commercial airports, positioning them well as early adopters for pilot programs and demonstration activities.”

DFW International Airport and Arlington’s airport are also exploring air taxi service.

In 2023, the airports started collaborating with air taxi company Overair to one day launch service. The following year, Arlington Mayor Jim Ross said he expected air taxis to ferry passengers to the city’s Entertainment District in time for this year’s World Cup soccer matches. But that won’t happen, as the FAA still hasn’t authorized transporting passengers to fly on air taxis.

City of Arlington spokeswoman Susan Schrock says the city plans to demonstrate vertical takeoff and landing aircraft at an event around the time of this summer’s World Cup. However, the aircraft will carry goods, not people, Schrock says.

The North Texas Council of Governments’ proposed three-year pilot project would operate short-range passenger shuttles and short-haul cargo aircraft. Initially, the airplane-helicopter hybrids would fly along two routes.

One of the pilot project’s key partners would be Plano-based VertiPorts by Atlantic, which develops takeoff and landing sites for these airplane-helicopter hybrids. VertiPorts is targeting markets such as New York City, Los Angeles, the San Francisco Bay Area, and Miami for development of its sites.

VertiPorts by Atlantic seeks to “reimagine urban connectivity,” CEO Kevin Cox says.

“This initiative represents not only a key investment in sustainable transportation but also an opportunity to provide faster, cleaner, and more efficient mobility options in some of the country’s busiest cities,” says Cox.

The pilot project’s other participants would include:

• Texas A&M University’s Center for Advanced Aviation Technologies, which opened last year in Fort Worth
• Southern Methodist University
• University of Texas at Arlington
• University of North Texas
• Boeing-owned Wisk Aero, which plans to launch air taxi service in the Houston area by 2030
• Air taxi manufacturers Archer Aviation and Joby Aviation
• Beta Technologies, a manufacturer of self-flying vertical takeoff and landing aircraft
• Funding for the North Texas project would come from its participants.

Last September, the FAA announced its pilot program for piloted and unpiloted electric-powered aircraft that take off and land vertically instead of horizontally (as traditional aircraft do). The program will comprise at least five pilot projects around the country.

“The next great technological revolution in aviation is here. The United States will lead the way, and doing so will cement America’s status as a global leader in transportation innovation,” U.S. Transportation Secretary Sean Duffy said in announcing the program.

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Ross Perot Jr. has spent his career building for the future—sometimes years, sometimes decades before others could see it coming. As chairman of Hillwood and The Perot Cos., the portfolio of organizations he leads touches nearly every corner of the modern economy: real estate, logistics, mobility, data infrastructure, venture capital, entertainment, and national policy.

The U.S. Chamber of Commerce named him chair in 2025, knowing that he offered the rare combination of entrepreneurial instinct and long-range strategic vision. For Perot, innovation isn’t a sector—it’s a lens through which he has viewed everything he has done. That’s why D CEO and Dallas Innovates selected Perot to receive the inaugural Legacy of Innovation Award.

Having vision is only part of the formula. “A lot of people have creative ideas,” Perot says. “But you’ve got to marry an idea with courage and action.” He has spent more than 40 years doing exactly that, starting with a daring round-the-world helicopter tour at 23 and the launch of the country’s first industrial airport in North Fort Worth.

That airport is now AllianceTexas, a 27,000-acre, $130 billion economic engine that’s home to nearly 600 companies and a proving ground for autonomous trucks, next-gen air mobility, and some of the world’s most sophisticated logistics and e-commerce operations. It’s also a landing zone for blue-chip innovators like Amazon, Meta, Embraer, and MP Materials. Many of those businesses were not yet imagined when AllianceTexas began—and that is precisely the point.

Perot grew up watching innovation unfold. As the only son of early computing pioneer Ross Perot Sr., he had a front-row seat to the birth of EDS and watched his father grow it into one of the most influential technology-services companies on the planet.

“I grew up with a real entrepreneur,” Perot says. “And I grew up with four sisters, a grandmother, an aunt, and a mom. So, at our dining room table, Dad and I were always down at the end by ourselves. Because of that, we became real buddies. I watched him build EDS in our living room. Even when I was a little boy, he’d have me sit in on meetings. And on Saturdays, we’d go to the EDS data center. Most boys played with their dad on weekends—but I’ve been in data centers since I was 7 or 8 years old.”

Perot’s ability to anticipate and shape emerging trends is rooted in how he learns. He doesn’t watch television and instead is a voracious, curious reader. “The more you read, the more you realize how little you know,” he says. “You stay humble, and you keep looking for ideas and trends.” He surrounds himself with emerging leaders and embraces unconventional thinking. “My father taught me to always have young people around and to listen to their crazy ideas—because that crazy idea might really work,” he says. “You don’t want to become the old guy who says, ‘Oh, it isn’t going to work.’”

It’s one of the reasons he joined with former Perot Systems and Dell exec Anurag Jain in 2014 to form Perot Jain, a VC firm that invests in early-stage startups. “I wanted to see the new ideas and the creativity,” Perot says. “We try to start new companies every year. I learned so much from venture capital—it helps me in the mainstream business. It exposes me to the best entrepreneurs in the world.”

The lessons from his father and other visionaries have helped inform his approach to risk. Perot says he rolls the dice with profits but never “bets the ranch” or does anything that would jeopardize his company or family. He also puts his faith in DFW. When he started AllianceTexas, the region had fewer than 3 million residents. Today, it exceeds 8 million, he says, and projections show Dallas-Fort Worth reaching 12 million by 2050 and possibly 28 million by 2100.

Population growth, Perot says, is the ultimate engine of possibilities. “All you really need to do is stay focused on Dallas-Fort Worth,” he tells young professionals. “If we add another 20 million people in 70 years, there are so many opportunities, you can’t even comprehend it.”

Through Hillwood’s Mobility Innovation Zone, AllianceTexas has become a hub for autonomous trucking and drone logistics. Through partnerships with companies like MP Materials, it is helping to restore domestic supply chains for rare-earth magnets. And through a collaboration with Taylor Sheridan, it is now home to the largest film-production campus in the state.

DFW entrepreneurs, Perot says, are set up for success. “In North Texas, there’s no punishment for failure,” he explains. “You’re surrounded by entrepreneurs and risk-takers. We help each other, and we celebrate each other’s success.” State political leaders do their part, too, he adds. “We basically banned capital gains tax, banned transaction tax, and banned the wealth tax. You’re going to see more people showing up, because economic freedom works.” 

Despite the enormity of his impact, Perot sees his legacy in deeply personal terms. He talks about the mentors who shaped him and the responsibility he feels to help future generations thrive. Ask him what he hopes people will remember decades from now, and he doesn’t mention his business successes or the hundreds of companies he helped attract to the region. “I hope they say I loved my family, that I tried to be the best Christian I could be, and that I loved Texas and Dallas-Fort Worth,” Perot says. “And that I did my duty.”

But even as he reflects on the past, Perot remains firmly focused on the future. He is a leader who has never slowed down—and has no intention of doing so. “We’re just warming up,” he says. “We’ve got so many great things left to do.”

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