A South-Korean semiconductor chemical manufacturing company and Samsung supplier, Soulbrain, struck a deal with the city of Taylor to build a $575 million plant.

The plant will be located within the 750-acre RCR Taylor Logistics Park off of Hwy. 79., sandwiched between the Hutto Megasite and Samsung's semiconductor plant.

What happened?

On July 25, the city of Taylor and the Taylor Economic Development Corporation agreed to an initial minimum capital investment of $175 million on the plant, which will create a minimum of 50 jobs, according to a news release.

The agreement also outlines future phases of construction, which the TEDC estimates could bring an additional $400 million capital investment to Taylor.

The city will grant a 10-year 25% tax abatement for each phase of construction.

In return, Soulbrain agreed to make an annual civic donation of $25,000 per year, create an internship for local high school students and join the Taylor Chamber of Commerce.

“This investment will bolster our local economy, create opportunities for our residents and add to the growing portfolio of high-tech industries in the City of Taylor," said Taylor Mayor Dwayne Ariola. "The partnership with Soulbrain highlights our commitment to fostering growth and innovation in Taylor."

What's next?

TEDC President Ben White said Soulbrain should start construction on the plant by Jan.1, 2025 and wrap up in 2029.

Quote of note

“Adding Soulbrain to our community adds yet another diverse, international company that will expand our tax base and create new jobs for our citizens," TEDC Chairperson Betty Day said. "Ever since Taylor landed Samsung, we have been working hard to recruit their top suppliers."

What else?

This news comes on the heels of another incentives deal between the TEDC and BPP Projects to build a $225 million data center in the city.

Other manufacturers within the RCR Taylor Logistics Park include building materials company Texas Materials Inc. and electric vehicle company Tesla.