Cameron County Agreement Tax Abatement with Saronic Technologies, Inc. 2026-06-02
County Grants $100M Shipbuilding Tax Abatement to Saronic
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Description
Cameron County awarded a 10-year, 95% property tax abatement to Saronic Technologies, Inc. for constructing an advanced ship building facility, contingent upon a $100 million minimum investment and job creation commitments. The agreement covers Phase I at the Port of Brownsville and extends through 2038.
Contract Details
Contract Amount
Aggregate minimum investment of $100,000,000 (Phase I), tax abatement on 95% of County taxes (2029–2038)
Vendor
SARONIC TECHNOLOGIES INC
Agency
Cameron County, TX
Contract Type
OTHER
Document Date
June 2, 2026
Contract Term
January 1, 2029 – December 31, 2038 (10 years)
Renewal Date
2038-12-31
Renewal Info
One-time, 1-year construction start extension available by Commissioner Court vote; assignment to affiliates permitted with County consent. No further automatic renewal beyond initial 10 years.
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