GEORGETOWN — A South Korean auto manufacturer is gearing up to start a location in Williamson County.
The Commissioners Court approved a Chapter 312 tax agreement with Hanwha Advanced Materials America, LLC, an automotive parts supplier, during its meeting Tuesday, March 19.
According to the agreement, Hanwha is purchasing 38 acres to build their facility just off of the Interstate 35 northbound frontage road north of Georgetown in the city’s extraterritorial jurisdiction.
“We chose this location for many reasons including access to I-35, our leading corridor from Mexico to Canada and Williamson County has a pro-business environment,” said Simon Lee, the CEO of Hanwha Advanced Materials America.
At the facility, Hanwha will build 200,000 square feet of high-tech advanced manufacturing space. Lee said the factory will focus on making truck beds.
The company will build 200,000 square feet of high-tech advanced manufacturing space with a total combined capital investment of approximately $100 million. The investment figure includes buildings and other real property improvements and tangible personal property including machinery and equipment.
The agreement with the county is for an abatement of 70% of the taxable value of the tangible personal property for 10 years.
According to the deal, Hanwha will create more than 180 permanent new jobs in Williamson County.
In addition, Hanwha committed to offer internships to 10 high school students in Williamson County.
“Whenever we can land a world-wide company that’s recognized internationally in our community and it benefits our kiddos, Mr. Lee I would do that every day in the week in my job,” Judge Bill Gravell said. “Our kids are that important.”
Gravell said the county will continue to see more international companies interested in moving in because of prime location, the skilled workforce and quality of life.
Dave Porter, executive director for the Williamson County Economic Development Partnership, said the inner workings of the deal began November 2022.
Porter said Hanwha representatives visited the county March 2023 and then Gravell, Precinct 4 Commissioner Russ Boles and himself met with company executives in Seoul April 2023.
Porter said the project helps diversify the county’s economy.
“I see this as a very successful win for Williamson County,” Porter said. “Advanced manufacturing and the auto industry is a great addition to the growing number of companies that call Williamson County home.”
