Round Rock officials greenlight incentive agreement for $12M Valex project

Round Rock officials approved an economic development agreement with Valex Corp. during their May 26 meeting.

Valex Corp. is a manufacturer of components for gas distribution systems used to manufacture semiconductors, according to the city.

Jordan Robinson, Round Rock Chamber president and CEO, told council during a May 24 packet briefing that Valex is part of an industry of ancillary businesses eyeing Central Texas following Samsung's announcement of a $17 billion semiconductor manufacturing facility planned for nearby Taylor.

"We all knew that when Samsung announced that they're committed Taylor ... we would be receiving some of those ancillary benefits from suppliers coming to the region," Robinson said. "This is one example of that."

The agreement states that in return for a total of $12 million in real property improvements and business personal property invested into the city's tax base, Valex will receive up to $225,000 in incentive payments over three years. Valex will also create 75 primary jobs over five years as part of the deal.

The Ventura, California-based company will occupy a 60,000-square-foot space at 120 Old Settlers Blvd., Round Rock, according to city documents.