Cameron County Agreement Tax Abatement with Saronic Technologies, Inc. 2026-06-02
Second Abatement Approved for Saronic Shipbuilding Expansion
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Description
Cameron County approved a second 10-year, 95% property tax abatement for Saronic Technologies, Inc., supporting a further $100 million investment in the advanced shipbuilding facility at the Port of Brownsville (Phase II), with commitments for expansion and jobs through 2040.
Contract Details
Contract Amount
Aggregate minimum investment of $100,000,000 (Phase II), tax abatement on 95% of County taxes (2031–2040)
Vendor
SARONIC TECHNOLOGIES INC
Agency
Cameron County, TX
Contract Type
OTHER
Document Date
June 2, 2026
Contract Term
January 1, 2031 – December 31, 2040 (10 years)
Renewal Date
2040-12-31
Renewal Info
One-time, 1-year construction start extension available by Commissioner Court vote; assignment to affiliates permitted with County consent. No automatic renewal beyond initial 10 years.
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