South Korean company plans to invest $175 million in new plant in Taylor to supply Samsung
A South Korean company that makes materials for semiconductors is investing $175 million in a new plant in Taylor, officials said.
Soulbrain TX LLC plans to start building the 60,000-square-foot plant to produce phosphoric acid on Jan. 1, 2025, said Ben White, president of the Taylor Economic Development Corp.
The plant will serve Samsung, which is building a $17 billion semiconductor facility in the Taylor area, according to a news release from the city. Electronic grade phosphoric acid is used as an etching agent in semiconductor manufacturing.
The city of Taylor, about 30 miles northeast of Austin, was once a farming community but is now on the verge of explosive growth because of Samsung's investment.
Soulbrain has agreed to provide a minimum of 50 jobs, the release said.
The first phase of the Soulbrain plant will be built at the RCR Taylor Rail Logistics Park at 201 FM 3349, White said. The company is also thinking about investing $400 million in a second construction phase, according to the release.
More: Why Samsung semiconductor plant in Taylor is receiving $6.4 billion from federal CHIPS Act
Soulbrain has agreed to make an annual civic donation of $25,000 per year, create an internship for local high school students and join the Taylor Chamber of Commerce, officials said.
The city has agreed to give the company a 25% property tax abatement for 10 years for each phase of construction, according to the release. It said the city and the economic development corporation also agreed to give Soulbrain a 25% rebate on the local use tax collected on construction materials.
More: Taylor foundation donates 68 acres for new University of Texas facility near Samsung
“Adding Soulbrain to our community adds yet another diverse, international company that will expand our tax base and create new jobs for our citizens," said Betty Day, chairperson of the Taylor Economic Development Corp., in a statement in the release. "Ever since Taylor landed Samsung, we have been working hard to recruit their top suppliers."
Jon Park, the vice president of technology and general counsel for Soulbrain, said the company was excited to expand its business to Taylor.
"The City and the Economic Development Corporation have been great partners in helping us through the process of this expansion," Park said in the release.
Soulbrain's North American headquarters for lithium-ion research and development and production is in Northville, Mich.
This article originally appeared on Austin American-Statesman: South Korean company plans to invest $175M for new plant in Taylor
