texas enterprise fund

Austin City Council
11:45 am
Fri January 31, 2014

City Council Approves Athenahealth Incentives Deal - But Not Unanimously

Massachusetts-based athenahealth will open its offices inside the former Seaholm Power Plant
Filipa Rodrigues for KUT News

Last night the Austin City Council approved a deal that offers nearly $680,000 dollars in incentives for athenahealth to expand in Austin. The grant will be offered in addition to a $5 million subsidy from Gov. Rick Perry's Texas Enterprise Fund.

But not everyone is happy with the deal. Some council members argue that the city’s booming economy doesn’t need to offer subsidies to bring business to Austin. (The deal passed on a 5-2 vote, with city council members Laura Morrison and Kathie Tovo voting no.)

Austin Monitor publisher Michael Kanin says that this debate is heating up as council members become increasingly divided on the issue of business incentives.

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Texas
1:04 pm
Wed January 8, 2014

After a Red Scare, Texas Could be Sriracha's Solution

Rep. Jason Villalba wrote Huy Fong Foods' CEO David Tran to convince the embattled hot sauce-maker to move to Texas.
flickr.com/photos/57043777@N03/

A nationwide shortage of Sriracha sauce has fans of the hot stuff in something just short of a panic, but one state representative has a plan for Texas to come to the rescue.

State Representative Jason Villalba (R-Richardson) has propositioned California-based Huy Fong Foods Inc. to move its operations to Texas after production of the peppery product was halted due to complaints from citizens living near its factory in Irwindale, CA.

KUT's David Brown spoke to Villalba about state and city pitches to recruit Huy Fong, California's "over-regulated" business climate and his go-t0 Sriracha dishes.  

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Business
10:29 am
Thu January 2, 2014

Beyond Perry, Future of Deal-Closing Fund Uncertain

Since creating the fund 10 years ago, Gov. Perry's Texas Enterprise Fund has given $508 million to businesses relocating to Texas.
Photo illustration by Gage Skidmore / Todd Wiseman, Texas Tribune

When Gov. Rick Perry steps down at the end of this year, he will have awarded more than $508 million from the taxpayer-financed Texas Enterprise Fund to businesses looking to relocate to the state or expand existing operations here.

But the future of the fund, which critics call corporate welfare, is unclear. The two front-runners to replace Perry, Republican Attorney General Greg Abbott and Democratic state Sen. Wendy Davis, have offered mixed messages on the economic development fund in the past, leaving questions about whether it will extend beyond Perry's tenure. 

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2013 Legislative Sesssion
9:05 am
Wed April 10, 2013

At the Capitol: Three Bills Gov. Perry Should Be Watching Today

Bills related to Perry’s Texas Enterprise Fund and an abortion bill Perry’s championed are getting hearings today.
KUT News

Three bills related to Gov. Rick Perry are getting a vetting today.

The Texas Senate is set to hear two bills scrutinizing the use of money from the Texas Enterprise Fund. The Texas Enterprise Fund is Perry’s economic development program that gives taxpayer money to private business. Some Austin recipients include Apple and Visa.

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2013 Legislature
5:17 pm
Mon March 25, 2013

Should Texas Lawmakers Give Gun Makers a Tax Break?

Despite national controversy surrounding guns, some Texas lawmakers are trying to attract firearms manufacturers to the state.
flickr.com/disrupsean

A bill offering incentives to attract manufacturers of guns, ammo and related hardware to Texas will go to the full Senate for a vote.

SB 1467 would offer tax breakers to firearms makers at a time when other states may shy away from sponsoring the industry and the bill’s author, Senator Craig Estes of Wichita Falls, calls laws that limit firearms manufacturing “unwarranted intrusions.”

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Business
7:28 am
Fri December 7, 2012

Council Approves $1.5M in Incentives for Visa

If Visa comes to Austin, the company promises to make about $27 million in capital investments.
flickr.com/MoneyBlogNewz

The Austin City Council unanimously approved a deal that offers the Visa credit card company about $1.5 million to bring almost 800 jobs to the area.

The city’s received some criticism for offering big companies these incentives. A council committee has been talking about adding a provision that would require companies seeking incentives to meet a minimum wage requirement of $11 an hour. While Visa doesn’t have to meet those requirements, yesterday they offered to anyway.

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Business
3:49 pm
Wed November 21, 2012

Visa Plans 800 New Jobs in Austin

flickr.com/photos/declanjewell

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.

Business
2:31 pm
Tue October 9, 2012

Commissioners Approve Tax Break to Lure Company to Austin

Travis County has joined the city and the state in offering economic incentives to HID Global.
Jillian Schantz Patrick for KUT News

Travis County Commissioners voted four to one this morning in favor of providing economic incentives to HID Global. The company makes ID cards and key-card readers.

HID Global is looking at building a manufacturing and distribution center in Northeast Austin. It would create more than 270 jobs over 10 years. In return, the county would give the company at least a 40 percent discount on county taxes over that time.

County Commissioner Ron Davis represents the area including Northeast Austin.

“I just think it’s overall a big deal all across the community and I think it’s a win, win, win, win, win, win-type situation for all of us," said Davis. 

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AM Update: 9/18/12
8:57 am
Tue September 18, 2012

AM Update: More HID Global Incentive Talk, County Prison Problems, UT Offers Real Estate Certificate

Flexible ID tags are some of the items manufactured by HID Global—a company that the county is now considering offering economic incentives to.
HID Global

Traffic is now clearing up around Stassney Lane and Manchaca Road after a gas leak at the intersection this morning. Schools in the area started on time. Here's a roundup of other news this morning:

More HID Global Incentives?

Travis County Commissioners will meet in executive session today to talk about whether the county will offer economic incentives to a company that’s considering relocating to the area.

The State of Texas is already offering HID Global $1.9 million from the Texas Enterprise Fund. And the City of Austin is considering offering the company close to a million dollars in rebates on taxes for real estate and equipment purchases. The city plans to hold a public hearing on the issue Sept. 27.

In return, HID Global would build a manufacturing and distribution center in Northeast Austin, and create 276 jobs over 10 years. HID Global makes products like ID cards and key-card readers.

Problems in Texas County Prisons

Today Texas lawmakers will take a look at problems facing county jails.

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Austin
11:44 am
Fri March 9, 2012

Apple to Create 3,600 Texas Jobs for $21 Million in Incentives

A major incentives package for Apple's Austin campus was announced today.
Photo courtesy flickr.com/atmtx

The Austin campus of tech-giant Apple is set to expand and offer thousands of new jobs, under an incentives package announced by Gov. Rick Perry today.

Perry’s Texas Enterprise Fund is offering Apple a package totaling $21 million over ten years to “more than double” the size of its Texas workforce. The agreement would add over 3,600 jobs. The governor's announcement characterizes the new positions as "supporting the company’s growing operations in the Americas with expanded customer support, sales and accounting functions for the region."

In addition to creating the new jobs, Apple will also invest $304 million in improvements to their Northwest Austin campus.

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Business
5:12 pm
Mon January 23, 2012

Consulting Firm Gets Incentives To Create 239 Local Jobs

Photo illustration by Todd Wiseman, Texas Tribune

A heath care services and research consulting firm will receive $500,000 in incentives through the Texas Enterprise Fund to expand its Austin office. The Washington, D.C.-based Advisory Board Company is the latest business awarded money from the fund created by Gov. Rick Perry to lure out-of-state companies to expand operations in Texas.

According to the agreement, the funds will create an additional 239 jobs in Austin and expand the company’s local division, focused on software development and technical support services.

The Legislature created the Texas Enterprise Fund in 2003 at Perry’s request.  Businesses that have received Texas Enterprise Fund incentives - totaling $441.7 million - include 3M, Caterpillar and Facebook.  According to the governor’s office, the fund has generated $15 billion in capital investment in the state.

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Business
11:44 am
Tue December 28, 2010

Scrapping Texas Enterprise Fund Could Disproportionately Hurt Austin

Governor Perry's power to recruit companies to Texas with economic incentive grants would be stripped if a Dallas lawmaker has his way, but an analysis by KUT News shows Austin has benefited disproportionately from some of those funds.
Image courtesy http://www.flickr.com/photos/refractedmoments/

A state lawmaker wants to abolish the Texas Enterprise Fund and other pools of money Governor Perry can use at his discretion to attract investment. But doing so could disproportionately harm Austin, according to our analysis of a report released last week by Texas Comptroller Susan Combs.

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