Development
BY KATLYNN FOX, STEVE GUNTLI & GRACIE WARHURST
Samsung’s WilCo plant awarded $250M in state incentives
Cedar Park’s Firefly acquires defense company for $855M
Cedar Park Library wins Best Public Place The Cedar Park Public Library was recog- nized by Urban Land Institute Austin as the Best Public Place on Aug. 27. The award recog- nizes a completed development that gives the public an enhanced experience or space. Quote of note “Cedar Park’s library is a perfect example of how you can bring that new innovative energy from the urban core out to the subur- ban area,” said ULI juror Rudy Metayer.
Firefly’s bid for SciTec Firefly is purchasing SciTec, Inc. through cash and stock payouts.
The Samsung semiconductor plant in Taylor will receive $250 million from a Texas Semi- conductor Innovation Fund grant, Gov. Greg Abbott’s office announced Sept. 17. About the program The TSIF is a part of the Texas Creating Helpful Incentives to Produce Semiconductors and Sci- ence Act, which Abbott signed into law in 2023. The TSIF grant furthers the incentive program that aims to bring more semiconductor-related businesses to Texas, as well as support existing semiconductor manufacturers, like Samsung. “The state’s considerable support of the Sam- sung Austin Semiconductor facility in Taylor is a powerful testament to Texas’ leadership in semi- conductor innovation and economic growth,” State Rep. Caroline Harris Davila, R-Round Rock, said in the news release.
The history Samsung announced its plans to build a semi- conductor plant in Taylor in 2021. A $45 billion project, it is the largest foreign direct investment in Texas on record, according to the Sept. 17 news release. Samsung has also invested $4.7 billion for its fabrication facility to produce 2-nanometer chips, a new advancement in chip technology that increases efficiency, with smaller transistors that have lower energy consumption and higher speeds. Why it matters The Taylor plant will create over 20,000 direct and indirect jobs in the Central Texas region, according to a 2024 statement from the federal government. The majority of the jobs, about 17,000, will help with the construction of the facility. Over 4,000 employees will work on manufacturing.
The Taylor project includes:
Cash: $300M
Two new fabrication plants
$855M
On Oct. 5, Firefly Aerospace, based in Cedar Park, announced it would be acquiring SciTec, Inc. for $855 million. The acquisition is expected to be completed by the end of 2025, according to a news release. The details SciTec, headquartered in Princeton, New Jersey, specializes in national security initiatives such as missile detection, surveillance and intelligence. Firefly aims to use the company’s programs to enhance its space services by adding mission driven defense software, remote sensing and data analysis capabilities. Earlier this year, SciTec was awarded a $259 million contract from the U.S. Space Force to help improve tracking technology and improve military
Stocks: $555M
A new research and development lab
SOURCE: FIREFLY AEROSPACE/COMMUNITY IMPACT
An advanced packaging facility
response times. What else?
SOURCE: SAMSUNG/COMMUNITY IMPACT
Firefly became publicly traded in July and raised more than $800 million on its initial public offer- ing. However, it saw its share price tumble nearly 30% after a Sep. 29 rocket test led to an explosion at its test facility in Briggs, Texas. No personnel or facilities were harmed during the incident.
What’s next The plant is expected to be fully operational by 2026, according to previous Community Impact reporting.
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S. PARKWEST DR.
PECAN WOOD DR.
Cedar Park Public Library
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HYMEADOW 12611 Hymeadow (512) 506-8401
NORTH 620 10601 N FM 620 (512) 506-8316
CEDAR PARK 13530 Ronald Reagan Blvd (512) 986-7681
ARBORETUM 10515 N Mopac Expressway (512) 342-6893
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