McLennan County Commissioners Court on Oct. 21 approved economic development incentives for a pharmaceutical/medical‑bioscience supplier planning its first U.S. production facility in Waco.

Chris Collins, county economic development staff, presented two related agreements: a proposed 15‑year industrial business personal‑property grant with Brazos River Ventures LLC (the project owner) and Electrolyt Manufacturing USA Inc., and a $2.5 million program/project reimbursement agreement (presented as a WebMEC-style assistance package) to help offset infrastructure costs. The court voted to approve both items.

According to the presentation, the project includes a minimum capital investment of $220 million: approximately $80 million in real property for a new facility (presenter referenced a 60,000-square-foot facility, transcript text noted a numeric value—reporting here as presented) and $140 million in business personal property. The company would initially hire 149 employees at an average annual wage of $54,000, with health benefits as required by program terms.

The personal‑property grant is structured for 15 years in phased percentages: years 1–5 at 90% of the qualified ad valorem reduction, years 6–10 at 75%, and years 11–15 at 50% (as presented). The WebMEC‑style program request is $2,500,000 to reimburse costs the company incurred for natural gas main extension and electric line improvements; the presenter noted the county’s portion of that $2.5 million would be $1,250,000. The presentation included projected net benefits to the county over the life of the agreements (county staff presented a multi‑year benefit estimate and internal rate of return figures provided during the briefing).

County officials said there is no financial obligation or liability to McLennan County beyond the incentive agreements approved by the court; the agreements are intended to be offset by property tax increments and projected local revenues from the project. Commissioners approved the agreements by voice vote after the presentation and a motion to approve.

The court’s action authorizes staff to execute the agreements as presented. The record includes the motion and unanimous vote; staff will proceed with finalization and implementation steps described in the program/project agreement.