December 2, 2023
BASTROP – The city council has approved more than $1 million in incentives for Acutronic USA Inc.’s planned jet engine manufacturing facility, which would be Texas’ first.
The plant will be on about ten acres in the Bastrop Business and Industrial Park, east of the small city’s downtown area and south of SH 71.
The company’s aerospace components division is already in Austin, building things like flight hardware, small jet engines, actuators, and power systems. Three Acutronic companies work under that umbrella with about 60 employees. The Bastrop location will continue to serve the aerospace components division.
The city will sell the land to Acutronic for $1.1 million. In return, the company has agreed to build at least 20,000 sf of production and manufacturing space, invest at least $4 million, and hire at least 50 full-time employees within five years. Average employee compensation must be at least $56,240, with at least 75 percent of employees residing in Bastrop County.
The company also must start construction 120 days after the city delivers a shovel-ready site and must move into the building within 32 months of starting construction.
The city has also committed to spending an estimated $1 million in infrastructure improvements at the site.