Odyssey Technical Solutions is expanding into a 32,000 square foot facility in Round Rock after the City Council approved a performance agreement and tax abatement Nov. 24.

Odyssey is a repairer of radio frequency, microwave, and direct current equipment primarily used in the semiconductor manufacturing industry. Currently, the business is located in Round Rock's extraterritorial jurisdiction, where the city does not receive sales or property taxes.

The agreement approved by City Council states Odyssey will purchase a 2.702 acre lot in the Altman Business Park, currently under construction, and invest at least $4 million in facility improvements and personal property. Furthermore, Odyssey will transfer its 48 employees to the facility after the company receives its certificate of occupancy and hire seven more before Dec. 31, 2016.

In return, Odyssey will receive $55,000 upon receiving their certificate of occupancy in the facility, plus $1,000 per job up to $55,000, for a total possible incentive package of $110,000. Furthermore, Odyssey will receive a general tax abatement of  100 percent for the first two years it is at the facility, 75 percent in the third year, and 50 percent in the fourth year.

"I am extremely pleased to announce our commitment to building our headquarters and technology center here in Round Rock." said Jim Plourde, president of Odyssey Technical Solutions, in a statement. "It was a pleasure to work with the Round Rock Chamber to identify our ongoing role in the business growth of the city. We truly appreciate the welcoming business environment and investment made by the city of Round Rock to make this happen. We are eager to move through the next steps of this project and look forward to moving into Odyssey's new company home."