GKN Aerospace recently achieved a milestone by completing its largest titanium AM demonstration part to date, with the production of a component measuring 8 feet (2.5 meters) and processed from approximately 100 pounds of titanium wire.
KoMiCo To Invest $30M In Round Rock Expansion
Earlier this month, the Round Rock City Council approved an economic incentive agreement with KoMiCo Technology that will result in a minimum of $30 million in new investment and the creation of at least 70 jobs. A semiconductor equipment parts cleaning, coating and repair company, KoMiCo provides services to the largest and most advanced semiconductor companies across the globe.
We are pleased that KoMiCo is making a renewed investment here in Round Rock, and we’re proud to be home to an essential part of the supplier ecosystem that supports semiconductor manufacturing in our region and around the world,” said Round Rock Mayor Craig Morgan.
The agreement requires KoMiCo to invest at least $30 million in real property improvements and business personal property at its existing location in Round Rock, with $15 million completed by the end of 2023, and the remaining $15 million by the end of 2024. The company expects to add 40,000 square feet to its current 62,000-square-foot facility. In addition, KoMiCo must add 70 employees to its existing 180-person workforce as a result of the proposed expansion and improvements by the end of 2025.
“KoMiCo’s expansion contributes significant value to the overall growth and economic generation of Round Rock,” said Jordan Robinson, President and CEO of the Round Rock Chamber. “As the Central Texas region continues to become a hub for the U.S. semiconductor industry, KoMico is an established global leader and industry supplier who brings cutting-edge capabilities, diversification and talent to our innovation ecosystem. We look forward to continuing our partnership with KoMiCo as it continues to make strategic investments in our community.”
In consideration for KoMiCo meeting its obligations, economic incentive payments (EIPs) totaling $750,000 will be issued through the City’s Type B sales tax fund, divided into three payments that will be made after KoMiCo meets the milestones outlined in the agreement. The agreement is performance-based and includes clawback provisions should KoMiCo not fulfill its obligations.
“KoMiCo is proud to partner with the City of Round Rock in further establishing the Silicon Hills as the most technologically advanced semiconductor manufacturing region in the United States,” said KoMiCo U.S. President James Jin.