Absolutely. There aren't a lot of details in the article, so I'm wondering where exactly near Austin they're thinking of building the factory. San Antonio's only an hour to an hour and a half south of Austin and is where this Toyota plant is located. There's a lot of really inexpensive land within a quick drive of the city and an airport with enough direct flights to get around.
So East of town (Austinite here) there's a lot of wide-open space. My money is on something East of 130 toll road near the Circuit of the Americas. I could see a lot of incentives being thrown that way from the Red McCombs family (major funder of COTA, highly influential in TX politics) to build alongside or nearby.
Random people on the internet are saying "RCR Taylor Logistics Park outside of Hutto, TX"
Not entirely coincidentally, Telsa's current factory in California is a former Toyota plant.
They also briefly partnered with Toyota on a Rav4: