Three major companies are expected to inject $11.6 billion into the Texas economy. These eligible manufacturing and research and development firms can apply for a 10-year reduction in property taxes paid to local school districts if they launch new projects in the state.
One of these applicants, Summit NextGen (pictured), has plans to construct an ethanol jet fuel production facility in Harris County with a goal of reducing carbon emissions for aircraft companies and airlines. The project, which is estimated at over $1 billion, would also create 75 new jobs. The proposed plant will be located within Galena Park ISD’s boundaries.
Bell Textron is looking to invest more than $600 million into a new advanced manufacturing plant that would create approximately 411 jobs with an average wage of $85,000. This commercial and military aircraft company intends on building its facility within Northwest (Ft.Worth) ISD’s boundaries.
America’s Foundry Bryan has announced plans for a massive semiconductor manufacturing project on 288 acres owned by the Texas A&M University System in Bryan. With an estimated cost of $10 billion, this development is expected to bring about 2,000 job opportunities while occupying three million square feet of land within Bryan ISD’s boundaries.
