New Jobs In Austin!! 2017

Austin OKs Merck incentives to build big pharma IT hub in Austin

Michael Theis Staff WriterAustin Business Journal

Austin City Council has approved its first economic incentive agreement in years, designed to lure pharmaceutical giant Merck & Co. Here's a breakdown of how the public money will flow to the drug-making giant — which has lofty hiring goals.

Per the incentive agreement, Austin would pay the drug maker $856,000 over 10 years, split into annual $85,600 payments — so long as Merck meets certain requirements, including investing $28.7 million to build the hub and employing 600 full-time workers at an average wage of $84,586 per year plus benefits.

The city's approval of the incentives agreement opens the door for a state package worth up to $6 million in tax abatements.

City staff with the Economic Development Department, which helped craft the deal, said the incentives package also comes with commitments — though not requirements — by Merck to develop a diverse hiring pipeline with local educational institutions. Backers from the Dell Medical School also hailed the arrangement for its potential to apply Merck's expertise to the forming Innovation District, which is dedicated to improving community health care.

The measure passed 7-3, with District 2 Councilwoman Delia Garza, District 4 Councilman Greg Casar and District 8 Councilwoman Ellen Troxclair voting against. Casar and Garza said they opposed the measure because it wouldn't bring enough low- and middle-income jobs to the city.

"There are wonderful things in this package, but I cannot support it because a priority for me is bringing jobs to this city that help middle- and low-income families," Garza said during the meeting.

Troxclair, City Council's lone Republican, opposed the deal, saying that it was inappropriate to use public funds to benefit a private company.

This is the first incentive agreement approved by Council since 2014. That year, Council approved three agreements — with Websense Inc., Dropbox Inc. and Athenahealth Inc. However all of those agreements are now inactive for various reasons. Between 2003-2014, Austin approved a total of 14 economic incentive agreements under the state's Chapter 380 incentive program. Today, seven remain active (not including the new Merck agreement) and one has been completed. The rest are inactive.

2017

COMPANY

TYPE OF OPERATION

JOBS CREATED

LOCATION

TYPE OF ACTION

MARCH

 

 

 

 

Accent Food Services

Vending & packaged food distribution (Hdq.)

115

Pflugerville

Expanded

BigCommerce

e-commerce solutions (Hdq.)

70

Austin

Expanded

ModSquad

Multi-channel digital engagement services

60

Austin

New

MW Builders

General contractor (Reg. Hdq.)

30

Pflugerville

New

Mythic

AI software solutions (Hdq.)

10

Austin

Expanded

Peregrine Semiconductor

Radio-frequency microchip design center

20

Austin

New

TG (formerly Texas Guaranteed Student Loan)

Student financial aid nonprofit, incl. loan administration (Hdq.)

300

Round Rock

Expanded

TurnKey Vacation Rentals

Property management software for vacation rentals (Hdq.)

100

Austin

Expanded

FEBRUARY

 

 

 

 

Babson Diagnostics

Medical diagnostic solutions (Hdq.)

20

Austin

New

Baylor Scott & White Healthcare

Healthcare

125

Pflugerville

Expanded

FloSports

Online sports broadcasting network (Hdq.)

175

Austin

Expanded

Gerson Lehrman Group

Research & business strategy consultants

100

Austin

Expanded

Volition America

Cancer diagnostic tests (Hdq.)

20

Austin

New

Yeti Coolers

Outdoor recreation coolers & accessories maker (Hdq.)

250

Austin

Expanded

JANUARY

 

 

 

 

Coast Flight Training

Commercial flight training school (Hdq.)

40

San Marcos

New

Heartland Acoustics & Interiors

Construction & green building materials

30

Austin

New

Purple

WiFi solutions for real-time analytics & marketing for physical spaces (Hdq.)

25

Austin

New

Qowisio

IoT (internet of things) solutions (Hdq.)

10

Austin

New

World First

Foreign exchange services, esp. to online retailers (Hdq.)

25

Austin

Expanded

YouEarnedIt

Online employee reward software (Hdq.)

50

Austin

Expanded

3 big tech companies are betting on Austin for their expansion

 

Duo Security

 

What do your growth plans in Austin look like? How many team members are you looking to welcome?We are have about a half dozen remaining Sales hires to make in Austin, and we are also in discussions about expanding additional functions there (such as Engineering, Product, and Customer Success teams)! 

 Condé Nast

What do your growth plans in Austin look like? How many team members are you looking to welcome? Current plans are for 25 - 30 new hires in 2016 with about as many added over the following two years. Of course, success here means even more opportunities, so we are shooting to outgrow it!

Luxe

What do your growth plans in Austin look like? How many team members are you looking to welcome? Right now, we’re looking to build out our sales, customer service and operations teams at the Capital Factory in Downtown Austin. As a private company we don’t break down our staffing numbers, though we’re definitely expanding and looking for great new hires in Austin!

 

 

 

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