A supplier of steel alloy products for what could be Elon Musk’s SpaceX company is looking into building a $110 million fabrication plant in Temple. The Temple City Council approved an agreement that would likely provide meaningful economic incentives in exchange for spending a lot on the plant and hiring a number of local workers.

The Austin Business Journal reports a group believed to be the SeAH Group, a South Korea-based holding company that specializes in specialty steel production, is the company exploring the plant.

As part of the agreement, the company would be required to invest at least $110 million in real and personal property in the first phase of the project and maintain at least 100 full-time jobs. In return, Project Astro LLC would be eligible for property tax grants equal to the real and personal property taxes of the city of Temple and Bell County for a 10-year period.