Scheduled for completion in 2020, 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.
“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.”
On March 26, the Kyle City Council and Hays County Commissioners approved a performance-based economic development agreement (Chapter 380 and 381) 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.
ENF’s Kyle facility will primarily serve Samsung Austin Semiconductor as well as GlobalFoundries, Micron, Texas Instruments and Intel. The company plans to hire approximately 45 to 50 employees, a workforce that could expand to 80 in the future.
About ENF Technology
ENF Technology Co.,Ltd is a Korea-based company mainly engaged in the production of semiconductors and thin film transistor liquid crystal displays (TFT LCDs) materials.
The Company’s product portfolio consists of process chemicals, including thinners, developers, strippers, etchants, promoters and others used for semiconductors and LCDs.
It also engages in the secondary battery business. The Company distributes its products within domestic Korean markets and to overseas markets.
Last year they produced $322 million in sales with net income of $23 million.
Kyle’s Future Economy
Landing this type of employer was not by accident, but the dilbierate efforts of decades of planning.
A review of Kyle’s Econonic Strategic plan makes it clear that firms like ENF are the foundation we are trying to build our future economy on.