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Sugar Land Development Corporation approves $2 million incentive agreement with Applied Optoelectronics
Summary
The Sugar Land Development Corporation voted 7-0 to authorize a 10-year, $2 million redevelopment performance agreement with Applied Optoelectronics that ties payments to job creation, a lease at 1111 Gillingham and capital investment targets.
The Sugar Land Development Corporation unanimously approved a 10-year redevelopment performance agreement with Applied Optoelectronics Inc. that commits $2,000,000 in Type A incentive funding, to be paid as $200,000 annually if the company meets the contract requirements.
The agreement matters because it is intended to support AOI’s effort to onshore advanced optical-module manufacturing to Sugar Land, create hundreds of jobs and occupy a long-vacant property. Jennifer Alexander, Business Retention Manager for the City of Sugar Land, told the board AOI would “be bringing that onshore to North America,” sign a 10‑year lease at 1111 Gillingham and make a capital investment “of $77,000,000.”
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