TAYLOR, Texas (KXAN) — A major supplier for Samsung is now planning to build a new multi-million-dollar plant in Taylor, another boon for the burgeoning tech hub.
Soulbrain TX, LLC, a South Korean manufacturing company, announced it will invest $175 million into opening a phosphoric acid facility to serve Samsung’s semiconductor fabrication plant in Taylor. According to a news release, the City of Taylor and the Taylor Economic Development Corporation (TEDC) reached an agreement with Soulbrain on this investment as well as the promise for the plant to create a minimum of 50 jobs.
Soulbrain is also agreeing to making an annual civic donation of $25,000 per year, creating an internship for local high school students and joining the Taylor Chamber of Commerce, the city said.
City leaders added the company is considering a second phase to the project worth $400 million. In return, the city agreed to grant a 10-year, 25% tax abatement for each phase of construction.
“Adding Soulbrain to our community adds yet another diverse, international company that will expand our tax base and create new jobs for our citizens,” Betty Day, the TEDC chairperson, said in a statement. “Ever since Taylor landed Samsung, we have been working hard to recruit their top suppliers.”
Ben White, the president and CEO of TEDC, told KXAN construction on the new plant could begin as early as next year.
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