Credit card company Visa says it will build a new IT center in Austin, bringing almost 800 jobs to the area within five years.
Texas Governor Rick Perry announced the project this afternoon.
Perry is using $7.9 million dollars from the Texas Enterprise Fund to entice Visa to Austin.
The city will kick in about $1.5 million over 10 years, according to a memo released by the city's Economic Growth and Redevelopment Services Office.
Visa’s side of the agreement includes those new jobs and making about $27 million dollars in capital investments in Austin.