The company’s relocation will create over 100 new jobs in Georgetown.
Current situation
At a March 11 meeting, Georgetown City Council members approved a tax abatement agreement and economic development agreement with VTC LLC, a Maryland company doing business as Total Site Solutions in Round Rock.
VTC LLC plans to relocate its headquarters and business operations to Building 1 at Georgetown Logistics Park, according to city documents. The building is currently in shell condition and will need to be renovated.
The economic development incentive calls for the city of Georgetown to provide a $200,000 performance-based infrastructure grant using funding from the Georgetown Economic Development Corporation.
At the March 11 meeting, council members also approved a tax abatement agreement between the city, SL6 Georgetown LP—who owns the Georgetown Logistics Park land—and VTC LLC.
The city will enter into a 10-year property tax abatement for a percentage of personal and real property for the project. The tax abatement agreement is estimated to be valued at $354,703 over the 10-year period, per city documents.
The impact
The relocation intends to create and maintain at least 150 new full-time positions in Georgetown with minimum salaries starting at $50,000, according to city documents.
The agreement calls for Total Site Solutions to fill the new positions within 90 days of the project’s commencement date—or when Total Site Solutions occupies the premises, which must be no later than May 31, per city documents.
By the numbers
Through the relocation, SL6 Georgetown and VTC LLC intend to make a combined capital investment—including costs from construction finish-out and final installations—of at least $17.7 million at Georgetown Logistics Park, per city documents.
As part of the agreement, VTC LLC is required to sign a minimum of a 10-year lease at the logistics park.
How we got here
Per the agreement, a contributing factor to VTC LLC’s relocation was an economic development grant agreement by the Georgetown Economic Development Corporation to offset infrastructure costs with utilities, drainage, site improvements and more.
Over the past few years, several industrial developments or business parks have made their way to Georgetown, according to previous Community Impact reporting.
