Applied Materials starts Chapter 313 incentives process as it eyes $2B R&D facility in Hutto
HUTTO, Texas (Austin Business Journal) – A global supplier to the semiconductor sector is formally eyeing expansion into an Austin suburb, and the capital investment could top $2 billion capital while bringing more than 800 jobs to Hutto.
The Hutto Independent School District Board of Trustees on Thursday unanimously voted to accept an application for a Chapter 313 state-funded property tax incentives agreement with Applied Materials Inc. that would aid the construction of a research and development facility in the fast-growing but still small suburb northeast of Austin. Chapter 313 incentives can be used for new manufacturing and energy projects, although the program is currently slated to expire at the end of the year.
Hutto is just west of Taylor, another small suburb that has lured a huge Samsung Electronics Co. Ltd. semiconductor factory.