The context
The Acutronic Group builds technology used in defense aerospace and transportation, including specialty components used in unmanned aircraft. According to its website, the company employs over 250 individuals across their facilities in the United States, Switzerland, Germany and India.
The Bastrop Economic Development Corp. offered businesses including Acutronic an incentive to build in the area in the form of a rebated purchase price upon the developer’s completion of the project. With these incentives, Acutronic purchased 10 acres from the Bastrop Economic Development Corp. for $1.09 million, as outlined in a resolution of the Bastrop Economic Development Corp. board of directors.
“The BEDC has had a policy to reimburse property sales,” City Manager Sylvia Carrillo said at the Oct. 10 Bastrop City Council meeting. “Acutronic is the last in that prior policy.”
According to the performance agreement criteria, Acutronic will build at minimum a 20,000-square-foot facility with a capital investment of at least $4 million. If followed, the incentive will be reimbursed over a period of five years.
The big picture
The area east of Lovers Lane is a target area of growth for the Bastrop Economic Development Corp. under the Business and Industrial Park project, according to the resolution. The extension of Jackson Street and the construction of Financial Way are also part of the project.
Acutronic did not respond to a request for comment at the time of this publication. This story will be updated accordingly.
