The City Council approved an economic incentive agreement with an electronics manufacturer that will bring 60 new jobs and a $5.65 million investment in a new facility in Round Rock.
East/West Manufacturing Enterprises will build a 43,000 square foot facility to expand its capability in the Electronics Manufacturing Services (EMS) industry. The new facility will be located at 1974 Steam Way and will produce high-quality Printed Circuit Board (PCB) assemblies, custom cables, and electrical/mechanical assemblies for multiple industries globally.
The Agreement requires East/West Manufacturing to expend at least $5,650,000 to construct the manufacturing facility and to create 60 primary jobs over five years.
In consideration for East/West Manufacturing meeting the obligations of the Agreement, economic incentive payments (EIP) totaling $225,000 will be made on an annual basis. This agreement is performance-based and does include clawback provisions, should East/West Manufacturing not fulfill its obligations.
“We are excited to build a new state-of-the-art facility in Round Rock” said Andy Salo, CEO of East/West. “As our customers’ needs have expanded, so has our need for a greater footprint. We have been incredibly impressed with the pro-business environment and welcoming nature of the Round Rock Chamber and City Council.”
East/West expects to retain 30 jobs and add at least 30 new jobs in Round Rock over the next five years. The company also plans to invest significantly in Round Rock including the construction of a new facility and new equipment.
“We are excited to welcome East/West Manufacturing to Round Rock as they expand their operations,” Mayor Craig Morgan said. “I am proud that our community continues to be a destination for companies seeking to grow and create jobs.”
East/West provides solutions for the industrial, medical, aerospace and defense, and automotive markets. They will be located in an industrial park that also includes ThermaSol Steam Bath Company and Odyssey Technical Solutions.
“The addition of East/West Manufacturing represents the capstone announcement for an already strong year for new businesses announced,” said Jason Ball, Round Rock Chamber President and CEO. “This company is a supplier to a huge diversity of products and industries making it stable and poised for growth even in uncertain times. We can’t wait to see what they do in Round Rock.”