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Wednesday, January 27, 2021

Incora announces group CEO as it makes Fort Worth move

David Coleal has been named Incora group chief executive officer effective Nov. 30, heading a company that was formed when Wesco Aircraft merged with  Pattonair in a $1.9 billion deal.
Effective January 2021 the company will be headquartered in Fort Worth.

Incora is built on more than 100 years of combined supply chain expertise and delivery performance, the company said in a news release.

It provides a comprehensive suite of innovative supply chain management solutions – including Just-in-Time (JIT), Chemical Management Services (CMS), kitting, and 3PL / 4PL services – to aerospace and defense, as well as automotive, industrial, pharmaceutical and other industries. Incora has a global footprint with 60+ locations across 17 countries.
Coleal has more than two decades of senior leadership experience within the aerospace and defense sectors, including serving as president of Bombardier Aviation and executive vice president at Spirit AeroSystems.

Coleal has broad experience in aircraft design, development, certification, operations and customer service across business aviation, commercial and defense markets.  This depth and breadth of experience will bring greater solution insight and value creation for Incora customers, the company news release said.

“I am very proud and excited to lead the talented team at Incora. This merger of the world’s leading supply chain solutions companies Wesco Aircraft and Pattonair allows us broader reach and scale to provide our customers with the most innovative and integrated solutions in the industries we serve,” Coleal said.
Robert Sturns, Fort Worth’s Economic Development Director outlined a $1 million incentive package to a Fort Worth City Council work session on Sept. 15,, saying the headquarters move fits neatly into the city’s long-term development strategy.

Among the attractive features are the company’s commitment to initially relocate 239 jobs in about 53,000 square feet of space in the former FAA headquarters building at 2601 Meacham Blvd.

The company will make a minimum of $4 million in tenant improvements and $1.5 million in business personal property investment in the building. Then, in 2022, the company plans to bring 300 additional jobs, another $4 million in tenant improvements and $1.5 million BPP investment for the 40,000 square feet of additional space in the building. The 539 total jobs bring with them an average salary of $75,000 and a minimum salary of $44,000.

Coleal’s appointment comes at a significant time for the company as it embarks on the next phase of its growth trajectory, the company said in the announcement.

In the September presentation, Sturns said no tax dollars will be used in the incentive package from the city. He noted that when the city sold the Pinnacle Bank property at 250 W. Lancaster Ave., $4.5 million was set aside to provide incentives for economic development projects.

Our proposal would be to utilize that designated project fund,” said Sturns. “This would be the first project that we would use that fund for. We would provide up to $490,000 to be paid for the phase one employment commitment, and then up to an additional $510,000 to be paid in 2026, based on achievement of the phase two commitment.”
Sturns also said the project would be nominated as an enterprise project through the Texas Enterprise Zone Program.
A news release from Gov. Greg Abbott’s office said at the time that a Texas Enterprise Fund (TEF) grant of $1,826,400 has been extended to Wesco Aircraft Hardware Corp.
www.incora.com

Incora | Innovation through IntegrationA leading, global provider of innovative supply chain solutions to the aerospace, defense, manufacturing, pharmaceutical, and other industries.www.incora.com

Includes material from Fort Worth Business Press archives

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