The city of Kyle is known across the state of Texas for its business-friendly environment, affordable housing and high-quality schools, all of which continue to attract new business in Kyle, TX. ENF Technology, based in South Korea, is the latest company to see the great opportunities Kyle can provide. The company has decided to build its first U.S. headquarters and advanced manufacturing facility in Kyle, TX.
Who is ENF Technology?
South Korea-based ENF Technology is a leading global company in the electronic materials market and provides many of these materials to the U.S. high-tech market. Founded in 2000, the company has been a frontrunner in the field of electronic materials with the development of new technology through continual research and development.
Why Kyle, TX?
ENF Technology has decided to open its first U.S. headquarters in Kyle, TX for a variety of reasons. Most notably, ENF provides electronic materials to Texas companies like Samsung, GlobalFoundries, Micro, Texas Instruments and Intel. This new location is expected to primarily serve Samsung Austin Semiconductor, which has been operating in Austin since 1997. ENF also sees the business-friendly environment and great workforce the city of Kyle is known for. Additionally, ENF Technology recognizes the affordable cost of living, award-winning schools and outstanding quality of life available in Kyle, TX for future employees.
Effects of This New Business in Kyle
The City of Kyle and Hays County Commissioners have approved a performance-based economic development agreement with ENF Technology for a five-year property tax rebate, beginning at 75% and declining by 10% each year. The investment ENF Technology is making in the Kyle community is expected to generate nearly $600,000 to the City of Kyle, over $400,000 to Hays County and more than $700,000 to Hays CISD by the end of the five-year agreement. Additionally, ENF Technology is expected to hire 45-50 people to operate the new headquarters, but the company could eventually employ 80.
Hays County officials and the city of Kyle are thrilled to welcome this new business to Kyle, TX! ENF Technology’s U.S. headquarters is expected to break ground in mid-2019 and open in 2020. With all the developments taking place in Kyle, TX, there’s little wonder why Kyle is Austin’s next in-demand suburb. Now is the perfect time to make the move to Kyle, and Crosswinds has a variety of new homes available from the $200s. Contact us today to learn more and connect with us on Facebook, Instagram and Twitter to see what life is like at Crosswinds!