The California-based company designs and builds semiconductor-manufacturing tools for companies, such as Samsung. Hutto ISD accepted a Chapter 313 application from Applied Materials in March.
Chapter 313 allows businesses to enter into agreements with school districts to limit the property taxes they pay for a set amount of time. In the case of Applied Materials, the company's taxable value for HISD maintenance and operation taxes would be capped at $80 million for 10 years.
The Texas Comptroller's office made the application publicly available on its website June 14.
The application contains some information not covered in the presentation to HISD officials in March.
According to the application, construction on the Applied Materials facility would begin in the first quarter of 2023. Construction would be complete in the second quarter of 2026, and the facility would be operational in the fourth quarter of 2026.
The facility itself would be an approximately 849,000-square-foot research and development laboratory that Applied Materials would use to "establish a sustainable new platform for technology leadership to advance the state of chip making," the application states.
Applied Materials would invest approximately $2 billion in the project, and the project would create 525 engineering, management, finance and operations jobs over the next 12 years, according to the application.
The application also confirms that the facility would be located in the "megasite," a large tract of undeveloped land in east Hutto.
However, the project is far from finalized, and Applied Materials is also considering Arizona, New York and California for the facility, according to the application.
The city has yet to comment on the project, but city officials have been engaged in several closed-session discussions on potential megasite projects in recent months. The city recently announced a project from Titan Development directly adjacent to the Applied Materials site.