TAYLOR, Texas — Williamson County commissioners have approved an incentive agreement with a South Korean company that provides supplies for the semiconductor plant in Taylor.
According to the county, Soulbrain purchased 85 acres in the RCR Taylor Logistics Park for its U.S. headquarters and operations. The company specializes in core materials for the high-tech industry and is expected to construct a phosphoric acid plant, hydrofluoric acid plant and other buildings and facilities on its Taylor property.
"This agreement is about taking care of our next generation of kids. These will be sought after internships and job opportunities," County Judge Bill Gravell said. “For granting an abatement of $2 million, we will gain $18 million in taxable property value. That is significant to offset property taxes for our residents."
The city of Taylor previously approved incentives for Soulbrain on July 25, and the company also received incentives from the Taylor Economic Development Corporation.
What does the agreement with the county include?
Williamson County said the agreement calls for Soulbrain to make a capital investment of $175 million for a Phase I Facility with a minimum taxable value of $100 million. In exchange, the county will grant an abatement for 25% of the taxable value of both the "real and business personal property" of that facility for 10 consecutive years.
Additionally, Williamson County will grant an abatement of 25% of the taxable value of both the real and business personal property of a Phase II Facility for 10 consecutive years. The capital investment of that facility can be no less than $400 million with a minimum taxable value of $100 million.
Finally, as part of the agreement, Soulbrain is required to follow a phased hiring schedule over five years and employ at least 50 positions at the end of that timeframe. It must also establish internship and employment opportunities for Williams County high school students.
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