Cedar Park officials are considering a $2 million grant and tax rebates for a concrete and building materials manufacturer aiming to relocate its headquarters and create nearly 170 jobs over the next decade.
Texas Materials is seeking incentives from the city’s economic development corporation to build a new 50,000-square-foot headquarters. In return, the company has pledged to create 169 permanent jobs over the next decade, including 142 within the first three years, according to city records outlining the agreement.
The City Council is expected to decide on the proposal at its June 25 meeting.
The move could be the latest example of companies choosing Cedar Park for expansion. Cedar Park recently approved similar agreements with defense startup Aeon Industrial in May and Creative 3D Technologies Inc. late last year.
“Our employees are excited about it,” said Jimmy Ball, the director of land use at Texas Materials said during a June 15 economic development corporation meeting. “It allows new space for us as we grow to retain our talent and bring them to a new area like Cedar Park… and you have the resources.”
The agreement includes an extension option after the initial 10-year term.
Although Ball told the advisory board he was unsure what future growth would look like for the company, he said he hopes Texas Materials remains in the area beyond the agreement period. Calling the proposed site U.S. Highway 183 “strategic,” Ball said consolidating operations there could encourage more employees to live in Cedar Park.
The economic development corporation board approved the agreement unanimously, but the City Council must give final approval.
“There are a few (employees) that will probably start thinking ‘where do I want to be in the next 10 to 20 years? ‘” Ball said. “You can breathe up here.”
Texas Materials did not respond to repeated requests for comment.
Texas Materials operates its main office in Cedar Park and employs about 80 workers there. The company says it has seven additional offices and dozens of plants along the Interstate 35 corridor. Texas Materials supplies materials for large-scale clients, including the Texas Department of Transportation and local governments.
Its parent company, CRH Americas, acquired Dallas-based Arcosa, which specializes in “infrastructure related products and solutions,” for $8.5 billion on June 22.
“To have (Texas Materials) corporate headquarters here in Cedar Park, all that activity… We certainly notice it here in the city,” Scott Smith, assistance director of economic development told the advisory board. “We’re excited that when looking for their future home of the corporate headquarters that we got the first call.”