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BASTROP — A new high-tech facility has opened in Bastrop, part of a broader wave of industrial investment driven by growth in the semiconductor and electric vehicle sectors, according to the Bastrop Economic Development Corporation.
LS Electric, a global provider of power and automation solutions, officially opened its Bastrop Campus at 409 Technology Drive earlier this month. The 58,925-square-foot center will support the company’s expanding U.S. operations, including a recent $150 million contract with Samsung.
“We are thrilled to open our Bastrop Campus and begin this new chapter,” said Jong Woo Kim, president and chief operating officer of LS Electric. “This facility reflects our commitment to innovation and our investment in the local economy.”
Phase one of the project included renovations, expansion and the hiring of 50 new employees, according to company officials. Future phases are expected to grow manufacturing, warehouse and office space to meet increasing demand.
The Bastrop EDC said the project reflects a broader regional trend, with an estimated 150 to 200 suppliers expected to locate near Samsung and other manufacturers in the area.
That wave also includes Elon Musk’s growing presence in Bastrop County, with SpaceX recently receiving a $17.3 million boost from the Texas Semiconductor Innovation Fund to expand its semiconductor research and development facility.
The funding is expected to create more than 400 jobs and generate over $280 million in capital investment, according to a statement from Gov. Greg Abbott.
Headquartered in South Korea, LS Electric employs more than 3,500 people globally, operates eight manufacturing facilities and reports nearly $3 billion in annual sales.
