Trane Technologies plans to invest almost $6 million to expand manufacturing capacity at its Fort Smith plant. The expansion is expected to add 63 jobs to the 272 jobs now at the plant, according to Trane.
The Fort Smith Board of Directors on Tuesday (Aug. 19) approved the company’s participation in Arkansas’ “Tax Back” incentive program that allows a business to receive a refund on building materials, new equipment and certain other expenses related to an expansion that adds jobs. The program is administered by the Arkansas Economic Development Commission.
According to a memo from Acting City Administrator Jeff Dingman to the Board, the new jobs have an average wage of $25 and hour, which is an average annual salary of $52,000.
“We’re excited to expand our operations in Fort Smith, strengthening our manufacturing capacity in support of our customers and their sustainable business growth,” said Holly Paeper, president of Commercial HVAC Americas for Trane Technologies. “We appreciate the longstanding collaboration with the Arkansas Economic Development Commission, Fort Smith Chamber of Commerce and thank the leaders of Sebastian County and the city of Fort Smith. Their support has been instrumental in making this expansion a reality and underscores our commitment to innovation, sustainability, and the creation of high-quality jobs within the community.”
The Trane plant, located at 9900 Aire Circle in Fort Smith near the city’s landfill, produces custom heating, ventilation, air-conditioning (HVAC) units, custom air-handling systems, and components for commercial applications. The units produced are used in a “variety of commercial building applications, including schools, office buildings, health care, multi-family residential, hotels and more,” according to Trane.
Most of the plant’s customers have traditionally been in healthcare – hospitals or large facility labs that need filtered air – and higher education, according to a November 2024 interview with plant officials. Company officials at the time said they were seeing demand from three sectors: Data centers, chip manufacturing facilities and EV battery manufacturers.
“The addition of more than 60 new jobs reflects their confidence in our skilled workforce and our community’s business-friendly environment,” Fort Smith Mayor George McGill said in a statement. “With nearly 300 employees already here, Trane’s continued growth is a strong indicator of Fort Smith’s economic momentum and industrial strength.”
“This exciting expansion is the direct result of a strong and seamless collaboration between Trane, the Fort Smith Regional Chamber of Commerce, and the city of Fort Smith,” said Tim Allen, president and CEO of the Fort Smith Regional Chamber of Commerce. “It demonstrates what can be accomplished when the public and private sectors work together toward a shared vision of economic progress.”
Based in Swords, Ireland, Trane Technologies posted net income of $1.479 billion in the first half of 2025, above the $1.191 billion in the same period of 2024. Total revenue in the first half of 2025 was $10.434 billion, up 9.5% compared with the same period in 2024. Trane had around 45,000 employees worldwide, according to the company’s 2024 Sustainability report.
Shares of Trane Technologies (NYSE: TT) closed Tuesday at $428.91 up 3 cents. During the past 52 weeks, the share price has ranged between $476.19 and $298.15.