South Korea-based ENF Technology Co., Ltd. will build a $45 million headquarters and advanced manufacturing facility in the Kyle, TX master planned community of Plum Creek. The company provides electronic materials to the U.S. high-tech market, and the new facility will serve manufacturers such as GlobalFoundries, Micron, Texas Instruments and Intel. ENF plans to hire approximately 45 to 50 employees, but its workforce could expand to 80 in the future.
“We selected Kyle for our first U.S. headquarters and manufacturing facility because it offers a business-friendly environment and great workforce,” said WJ Yang, General Manager of ENF. “The Plum Creek community will provide our workers and their families access to affordable housing, high-quality schools and an outstanding quality of life.”
ENF is expected to break ground in mid-2019 and the approximately 100,000-square-foot complex is scheduled for completion in 2020. It will serve as the U.S. headquarters for ENF, which currently owns and operates facilities in South Korea and China. The 25-acre site provides room for future expansion.
The Kyle City Council and Hays County Commissioners have approved a performance-based economic development agreement with ENF Technology for a five-year property tax rebate beginning at 75 percent of real and personal property taxes and declining 10 percent annually until the end of the term. ENF’s investment is expected to generate a net fiscal benefit of approximately $598,506 to the City of Kyle, $401,602 to Hays County, and more than $747,602 to the Hays Consolidated Independent School District by the expiration of the five-year agreement.
“We work hard to create economic opportunities in Kyle and are proud that ENF has selected our city as the home of its U.S. headquarters,” said Kyle Mayor Travis Mitchell. “ENF’s $45 million capital investment and estimated median pay of $85,000 will have a tremendous economic impact on our city and the region. I’d like to thank our partners the Greater San Marcos Partnership and the Austin Chamber of Commerce for working with our team to secure this important win.”
With less than half of the land developed to date, Plum Creek features more than 2,000 single-family homes, 1,500 multifamily homes and a 100-acre Austin Community College campus. A mixed-use town center and more than 8 million square feet of commercial development are planned, including a 500,000-square-foot industrial park.
“Plum Creek has reached a tipping point in terms of commercial development,” said Momark Principal Terry Mitchell who oversees the build-out of Plum Creek. “Businesses are increasingly looking for live, work, play environments and more affordable Central Texas locations as prices and regulations in urban areas increase.”
Just 20 miles south of downtown Austin, Kyle in Hays County has grown more than 700 percent over the last 15 years. Kyle officials have made recruiting more companies to the city a priority in recent years in order to become an employment hub for residents and diversify the city’s tax base.
“ENF’s decision to locate in Kyle highlights our region’s ability to attract technology focused foreign direct investment to the Texas Innovation Corridor” said Adriana Cruz, President of the Greater San Marcos Partnership. “This win would not have been possible without the hard work and dedication of Kyle Economic Development, and the City of Kyle and Hays County staff and elected officials.”
Relocating or Expanding Your Business In Texas
Considering Texas for your company’s relocation or expansion project? Check out Business Facilities’ Texas Incentives and Workforce Development Guide.