The company will relocate from Round Rock and build a 200,000-square-foot headquarters, which is expected to have 1,000 full-time employees by 2033.
"This will be the largest employer in Cedar Park—for now," city economic development director Ben White said.
The company, which is currently headquartered in Round Rock, sells jewelry, gemstones, precious metals, handbags, fashion accessories and more, White said.
Cedar Park City Council approved a performance-based economic development agreement Nov. 18 that will provide a $4.5 million jobs incentive, up to $150,000 in public infrastructure reimbursements, property tax rebates and a one-year Cedar Park Chamber of Commerce membership.
In return, the company will build a 200,000-square-foot office and have a $50 million capital investment. Shop LC will also create a $75.7 million payroll with 1,000 full-time employees by 2033, according to city documents.
The headquarters will include television studios and sales and distribution offices. Construction is expected to be complete by Sept. 2024, according to the city. It will be located where a former winery was on Bell Boulevard south of New Hope Drive.
The agreement with the city's Economic Development Sales Tax Corp. (Type A) is estimated to provide a $5.5 million net benefit to the city, according to city documents. The payback period is 8.6 years with a return rate of 12.2%.
“Cedar Park is a beautiful and vibrant city with great schools and a strong community, making it the perfect choice for us to build our permanent home where our company, employees, and their families can thrive,” Amit Agarwal, the Shop LC North American president, said in a city release.
