The details
At its Oct. 23 regular meeting, Cedar Park City Council unanimously approved an incentive program to help the company set up its headquarters in the city. The $1.2 million incentive package would require Wright One to hire 164 new employees and to make a $15.5 million capital investment into the city.
Arthur Jackson, the city’s chief economic development officer, said Cedar Park could conservatively expect $5.5 million in estimated taxable sales from Wright One over the next few years.
The company is eyeing a lease at the Brushy Creek Corporate Park at 1200 Bmc Drive in an 18,085-square-foot facility. Wright One will still need to finalize the lease before the move becomes official.
The incentives were part of the city’s recent push to attract tech companies to the city as Cedar Park has begun to emerge as a hub for the aerospace industry. At the same meeting, the council approved a $1 million incentive program to allow Firefly Aerospace to expand operations.
What they offer
Wright One, currently headquartered in Bridgeport, Connecticut, utilizes fan and turbine technology. The company’s signature product is the Wright Fan, which is used to cool CPUs in powerful computers, but the company has also been developing the Wright Turbine, a powerfully and energy-efficient propulsion engine which could be integrated into flying car technology in the coming years.
Austin City Council recently discussed the future of flying cars in the city, according to previous Community Impact reporting.
