An American Tesla supplier has been given the green light to construct a $28 million site in Texas, in close proximity to the electric vehicle (EV) manufacturer’s Gigafactory in Travis County.
The approval for the construction of Futronic’s initial U.S. site in Buda, Texas was granted this week by the City Council members. This development was covered in a report from Austin Business Journal. The city endorsed the company with $600,000 in tax benefits, supplemented by further incentives from the Hays County Commissioners Court.
With the goal of acquiring a 66,000-square-foot structure at 2899 Business Park Drive, previously occupied by the Fat Quarter Shop LLC, Futronic, as reported by the Greater San Marcos Partnership, positioned the site just a 20-minute drive from Giga Texas. The establishment is anticipated to generate up to 350 job opportunities in the area.
The overall investment from the company is projected to hit $17 million for this venture, in addition to the estimated $11 million needed to acquire the building, according to sources in the report.
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Shannon Mumley, the Assistant Director of the Buda Economic Development Corp. (BEDC), expressed, “Buda boasts a talented workforce, complemented by a school district that provides extensive CTE (career and technical education) programs, making this an added advantage not just for our economy but also for families and upcoming generations.”
Futronic specializes in the production of actuators, motors, and other control devices for various global automotive entities, showcasing these products on the company’s official website. While most of Tesla’s suppliers operate under confidentiality clauses, Futronic has been pinpointed by the Greater San Marcos Partnership as one of the automaker’s suppliers.
Several Tesla suppliers, like Piedmont Lithium, have recently disclosed plans for new ventures in the U.S., such as the approval for a project in North Carolina where a lithium mining facility is expected to be established.
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