BRYAN, Texas (KBTX) -A new billion-dollar technology and manufacturing company is one step closer to establishing itself in the Brazos Valley. If finalized, the company will be located at the RELLIS Campus. The Bryan City Council has unanimously approved a tax abatement to attract the business. However, the company’s identity and specific plans remain undisclosed.
This development follows the Texas A&M Board of Regents’ recent approval to authorize negotiations for agreements and a ground lease for a manufacturing facility at the RELLIS Campus. According to online records, the project scope includes a minimum of $5 billion in buildings and property improvements and an additional $5 billion in machinery and equipment. The project is expected to house one or more manufacturing plants and supporting facilities.
The city and A&M officials are bound by non-disclosure agreements, keeping the company’s identity and plans confidential. However, the City’s agenda for Tuesday indicates that America’s Foundry Bryan, LLC, driven by the Texas A&M University System’s vision for RELLIS, promises significant economic growth for Bryan. Job creation is projected to rise from 25 jobs in the first year to 1,800 by the tenth year.
The project will be located on a 288-acre parcel at the RELLIS Campus, which the Bryan City Council designated as a reinvestment zone last month to allow for property tax breaks. City staff stated that the designation aims to attract a significant economic development project in collaboration with the A&M System. Engagement with a prospect has been ongoing for the past year and involved officials from the A&M System, as well as state and federal governments.
Speculation has been fueled by A&M’s plans in the semiconductor sector, with a recent exploration of international business opportunities in Japan by the Brazos Valley Economic Development Corporation.
“America’s Foundry Bryan, LLC represents an incredible economic development opportunity for the City of Bryan. Spearheaded by the Texas A&M University System and its vision of the RELLIS Campus, America’s Foundry Bryan, LLC will be the epicenter for the region’s high-technology ecosystem, bringing together the private sector with the research and development capabilities of the Texas A&M University System,” said Bryan City staff.
Texas A&M Chancellor John Sharp emphasized the significance of the project at Tuesday’s Bryan City Council meeting, where he pitched the tax abatement.
“I think it’s the biggest thing to come to Brazos County since A&M was put here. If this winds up happening,” Sharp said. “There’ll be about 1,800 at least permanent jobs here. Much more than that obviously in the construction phase. And it’s a minimum $10 billion investment.”
The City’s projected new ad valorem tax revenue, based on the guaranteed value and after annual abatement, is $124,800 in the first year, reaching $31.2 million annually from years seven to ten. For perspective, the Brazos Central Appraisal District’s 2024 estimate of net taxable value for the City is $9.9 billion.
“In year one, the projected guaranteed value is a hundred million dollars. With an 80% tax abatement, that obviously grows as the project develops over the next 10 years,” said Todd McDaniel, City of Bryan Economic Development Senior Advisor.
With the tax breaks in place, the impact on the RELLIS Campus and the Braozos Valley remains to be seen.
“They’ve looked in 16 different states and they decided on Bryan, Texas, and decided on the RELLIS campus along with the hypersonics, along with autonomous vehicles, the Pentagon research that’s going on there, the testing the defense space, things like that,” Sharp added.
City leaders acknowledge that it is now a waiting game.
“We’re doing everything we can to get it here and hopefully they’ll choose us and it will be game-changing. I know we’re gonna do our part and you know, whatever that will be,” said Bryan Mayor Bobby Gutierrez.
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