A steel alloy supplier, potentially for Elon Musk’s SpaceX company, is considering constructing a $110 million fabrication plant in Temple. The Temple City Council has approved an agreement that offers significant economic incentives in exchange for substantial investment and local job creation.
According to the Austin Business Journal, the interested party is believed to be SeAH Group, a South Korea-based holding company specializing in specialty steel production.
Under the terms of the agreement, Project Astro LLC must invest at least $110 million into real and personal property during the first phase of development and maintain 100 full-time jobs. In return, they will receive property tax grants equivalent to those paid by both Temple city and Bell County for a period of 10 years.
The potential location of this factory marks another step forward for SpaceX’s supply chain expansion efforts.
