City of Round Rock officials will vote on an economic development agreement supporting an expansion of PulseForge during their Oct. 22 meeting.
Located at 400 Parker Drive, Ste. 1130, Austin, the business is within Round Rock city limits. The company manufactures specialized tools for semiconductor chip packaging.
The details
The incentive agreement would require PulseForge to make a total of $20 million in capital investments. This would be divided between $6 million to expand the existing facility and $14 million in business personal property, such as additional machinery. The investment total would be subject to local property taxes.
PulseForge would also be required to add 60 new positions as part of the agreement.
In exchange for its investment, PulseForge would receive a total of $600,000, paid in two installments. The first installment of $250,000 would be issued in 2030, contingent upon the company investing $10 million and adding 20 new jobs. The second installment of $350,000 would be paid in 2032, contingent upon the business adding the remaining 40 jobs and hitting the total $20 million investment.
The incentive would be paid using Type B funding, which is generated by sales taxes, according to city documents.
Diving deeper
Round Rock Chamber Vice President Danielle Morrissey said PulseForge has already identified a 20,000-square-foot space adjacent to its existing facility. However, the chamber is working to help the company identify a property should PulseForge choose to build elsewhere to scale its manufacturing.
"This project represents an opportunity to support an expansion of a local company, create high-paying jobs and strengthen Round Rock's position in the growing semiconductor industry," Morrissey said.
What's next?
Round Rock City Council will meet at City Hall at 6 p.m. Oct. 22. Information about Round Rock City Council meetings is available at www.roundrocktexas.gov.
