By Cameron County will give a company a 95 percent tax abatement to build a shipyard at the Port of Brownsville.
The agreement approved this week cements a 19-year agreement between Saronic Technologies and the county. The company plans to build a three-point-two billion dollar shipyard that could employ up to ten-thousand workers by 2034.
Saronic has promised to source at least 35 percent of its workforce locally. The agreement will let the county reduce the abatement if the company fails to meet performance requirements.
