Cedar Park City Council approved economic development incentive agreements totaling $202,500 for the introduction of a new business and the expansion of another in the city.
The incentives will provide a total of 40 new full-time jobs in the city, according to city documents.
The performance-based agreements are between the Cedar Park Economic Development (Type A) Corp., Red Horn Brewery and Roastery LLC, and WEXCO.
Red Horn received $80,000, which will be paid back in a little over three years. WEXCO received $122,500, which will be paid back in nearly 7 1/2 years, according to the city. The funds will be recouped through sales tax, property tax and other public revenue streams, according to the city.
