Members of the Music Commission want the city to explore more ways for a proposed incentive program for small businesses to address some of the specific real estate realities live music venues face throughout the city. Last week’s meeting included a presentation about a new place-based incentives program the Economic Development Department hopes will make […]
Economic Development Incentives
This is shorthand for a series of programs designed to lure business to a given region. In Austin, the program tends to take some form of tax-based incentives. These can include rebates or grants that are often tied to a set of stipulations. These tend to include local hiring goals, same-sex partner benefits, or, more recently, wage floors for construction workers who build facilities for the incoming organizations.
Posted inTravis County
Commissioners voice support for Tesla factory, community investment plan
The Travis County Commissioners Court defended tax breaks for Tesla’s factory in East Austin and approved the company’s plan to donate $750,000 as part of the tax incentive deal. This is more than double the amount – $298,000 – the electric vehicle manufacturer is required to spend based on the $2.9 million in tax breaks […]
Posted inCity Hall
Council approves incentives for NXP Semiconductors’ $290M planned investment
The city has agreed to its first major economic incentive package in six years, with just over $1 million for a variety of uses headed toward tech manufacturer NXP Semiconductors N.V. That package will allow NXP, which has two major facilities in Austin, to qualify for additional federal incentives as the company plans to spend […]
Posted inCity Council
City, NXP to help fund child care through Chapter 380 agreement
City Council heard from more than a dozen people talking about the city’s proposed Chapter 380 agreement with NXP Semiconductors at Thursday’s meeting. Almost every one of them praised the company, which has been in Austin since 1974, operating two facilities. Mayor Kirk Watson called on Sylnovia Holt-Rabb, director of the Austin Economic Development Department, […]
Posted inCity Council
Council hears details of proposed $1M incentive package for NXP Semiconductors
A Dutch semiconductor manufacturer with two factories in Austin has applied to receive the city’s first major economic incentive package since 2017. City Council heard details at Tuesday’s work session about the proposed agreement with NXP Semiconductors N.V., which is looking to invest $290.8 million to remove and replace four of its five production lines […]
Posted inAustin
Local leaders say Samsung deal could boost middle-skill jobs
As city staffers continue to work behind the scenes negotiating an economic incentive package with Samsung to bring a $17 billion manufacturing operation to Austin, some local leaders see the deal as a large positive step for increasing so-called middle-skill jobs. During a presentation at last week’s annual meeting of the Austin Chamber, Mayor Steve […]
Posted inDevelopment
Project Silicon Silver proceeds at a gallop
On Tuesday the Travis County Commissioners Court held a discussion on “Project Silicon Silver,” widely speculated to be the alias for chipmaking giant Samsung’s development contract. The discussion centered around acceptance of the preliminary application, along with a corresponding $150,000 fee paid out to the county by the developer. The commissioners were careful to note […]
Posted inTravis County
Travis County approves Tesla incentive deal
On Tuesday, the Travis County Commissioners Court approved a $13.9 million tax rebate deal to coax Tesla to build its “Gigafactory” in southeastern Travis County. The tax rebate is based on a $1.1 billion investment from Tesla and will be paid out over the course of 10 years. The agreement has a 20-year term that will […]
Posted inTravis County
Discussion about Tesla tax break drags into second day of discussion
The debate surrounding the proposed incentive package designed to coax Tesla to make its new home in Travis County will continue at the Commissioners Court on Wednesday. After taking public testimony for the item on July 7, the commissioners unanimously recessed until 1 p.m. on Wednesday when they will reconvene the discussion. This is the […]
Posted inTravis County
County development incentive for Tesla sees more support
This Tuesday, the Travis County Commissioners Court once again opened the floor to public testimony regarding the development incentive package for Tesla’s proposed “Gigafactory” in southeastern Travis County. The court took no action on the matter. Over a dozen speakers expressed their opinions via the phone on the county’s plan to offer an 80 percent […]
Posted inTravis County
Travis County considers 80% tax break to coax Tesla
Electric vehicle company Tesla is considering moving to southeastern Travis County to build its “Gigafactory” where it will construct its much-hyped Cybertruck. To entice the California company to make its home in Texas, Travis County is proposing giving the company an 80 percent rebate on its property taxes for the first 10 years of its […]
Posted inTravis County
Commissioners approve ‘pause’ on economic incentives
Looking ahead to years of belt-tightening due to property tax limits put in place by the state, Travis County leaders say the county may not be able to afford offering tax incentives to companies to create jobs locally. The Commissioners Court voted 4-1 Tuesday to stop accepting applications from companies seeking to participate in the […]