Cedar Park City Council approved an economic development deal June 25 with construction materials company Texas Materials centered around a $2 million grant and a rebate of sales tax revenue generated by the company.
The framework
Under the agreement, the company will establish a new regional headquarters at the Town Center Office Park, located northeast of the intersection of Bell Boulevard and Whitestone Boulevard, Chief Economic Development Officer Arthur Jackson said. The company will receive the grant from the city in exchange for establishing and occupying its new headquarters by May 21, 2028.
The company is also expected to employ at least 142 employees with a combined annual payroll of about $12 million at the local facility by the end of 2028, city documents state. The agreement includes an additional series of job-creation milestones, with the company expected to employ at least 169 local workers and pay them a total of almost $15 million, or about $89,000 per employee, by 2037.
The agreement provides the company a sales tax revenue rebate of 100% for the first two years, and an amount gradually decreasing to 75% over the first 10 years. Provided Texas Materials meets the requirements laid out in the agreement for the first 10 years, the sales tax rebate will be extended another 10 years.
The sales tax revenue rebate is capped at about $1.1 million annually and $11.3 million in total.
About the company
Texas Materials makes and sells asphalt, concrete and other construction materials. Texas Materials is owned by CRH Americas, a subsidiary of CRH plc, which Jackson described as the world’s largest supplier of building materials.
Texas Materials already has an office in Cedar Park, Jackson said, and is planning to consolidate its operations throughout the region.
“Texas Materials has proudly served this community for many years, and we’re excited about the opportunity to continue investing where we live and work here in Cedar Park,” President Robert Checkley said.
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