What happened
Cedar Park Council unanimously approved two agreements that will allow the companies to locate their headquarters in the city at the Aug. 24 meeting.
Compedia
For over 30 years, computer game developer Compedia has been transforming educational content into immersive, 3D digital experiences in several languages for people in roughly 50 different countries.
The agreement to bring the company’s headquarters to Cedar Park will create 228 primary full-time jobs with an average salary of $100,000, along with other economic benefits for the city, according to the Aug. 24 news release.
Contingent upon the terms of the agreement being met, the city will provide a total incentive of $855,000.
The company will be relocating its headquarters from Israel and is expected to occupy a facility located at 202 Walton Way, Ste. 192, Cedar Park, by December.
“This is really exciting for the city,” Mayor Jim Penniman-Morin said at the meeting.
PD Labs
PD Labs is a full-service compounding pharmacy and wellness center with years of contribution to the health care industry.
The company will either purchase or lease a building in Cedar Park with a $4.3 million investment, according to the Aug. 24 news release. Through the agreement with the city, the company will create a minimum of 16 new jobs while maintaining 26 local jobs.
The city will provide a total incentive of $105,000 if the company meets the terms outlined in the agreement.
While PD Labs has an existing location in Cedar Park, Company President Ray Solano suggested the company needed to grow beyond its current space, according to the release. Spanning about 7,500 square feet, the new headquarters will be developed at 1513 New Hope Road, Cedar Park.
Work to research and develop new treatments for ailments, such as autism and Lyme disease, will continue at the headquarters.
PD Labs is expected to construct its new headquarters facility no later than January 2025, according to city documents.
