A $20,000 incentives package approved by Buda city leaders last month is expected to pave the way for a company that maintains semiconductor construction equipment to open for business.
By a unanimous vote on Jan. 3, the Buda City Council approved a performance agreement on second reading between the Buda Economic Development Corporation (EDC) and GMAG Holdings, which is the parent company of Chip Semiconductor. According to city documents, the performance agreement would have Buda pay $20,000 for permit fees “and to secure or make improvements to infrastructure for their facility.”
Per city documents, the performance agreement requires GMAG Holdings to invest at least $5,000,000 in capital improvements and build approximately 45,000 square feet of new industrial space within the city.
