Construction company Liberty Civil Construction plans to build a $3 million facility on Hero Way in Leander, relocating its headquarters from Georgetown.
The company has more than 200 employees and had about $75 million in revenue in 2018, according to the company’s president, Michael Ehrhardt.
Leander City Council authorized the city to execute an economic development agreement with the company during a meeting Jan. 17.
The agreement states that the city will provide 100 percent city property tax reimbursement for five years on new real property value created and 50 percent reimbursement for the following five years of operation, according to city spokesperson Mike Neu.
Additionally, the company will relocate its equipment, which is considered personal property when taxed, to the new facility. The city is only reimbursing new real property tax, and the relocated personal property is expected to have greater value than the anticipated increase in real property value, according to Neu.
Liberty Civil Construction will invest about $500,000 in infrastructure to maintain the new facility, providing services along Hero Way between Toll 183A and Ronald Reagan Boulevard.
To help with costs of extending water and wastewater infrastructure, the city will reimburse the company up to $250,000, which is less than half of what it could cost the city to construct the infrastructure itself, according to Neu. Adding more infrastructure could spur more development in this area going forward, he said.
The new facility will be located at 2937 Hero Way, and construction is expected to take place from mid-2019 to mid-2020, Ehrhardt said.