A commitment of 40 full-time employees and a $1.2 million investment is coming to Round Rock with the approval of an economic incentive agreement between the city and Chatsworth Products Inc., based in Agoura Hills, Calif.
The Round Rock City Council approved the agreement Dec. 20 that will bring CPI, a global supplier and manufacturer of IT infrastructure equipment, to Settlers Crossing, on the north side of East Settlers Boulevard west of North Red Bud Lane, according to the city of Round Rock.
The company will lease 33,922 square feet of space at Settlers Crossing Building 2, where it will manufacture its power distribution product line.
“Chatsworth’s investment in people and property is welcomed with open arms in Round Rock, Mayor Craig Morgan said in a release from the city. “This high-tech firm will help write another chapter in our community’s success story of growing and diversifying the Round Rock economy.”
The city said CPI has to maintain its lease for at least seven years, invest $1.2 million in equipment and other building improvements and employ at least 40 people to receive $50,000 in program payments for two years from the city.
CPI has a presence in Georgetown and other facilities worldwide.
“Round Rock is in a strategic location, providing quick access for shipments and deliveries, and is just a few miles from our research, development and training center in Georgetown,” said CPI Executive Vice President of global engineering and product management Ted Behrens in the release from the city.
The company will start moving into the facility during the first quarter of 2019.
“We are thrilled to have Chatsworth join our community,” said Nichole Vance, Round Rock Chamber director of business attraction. “They are a successful, 100 percent employee-owned business that we feel will be a great addition to Round Rock as we continue to diversify and expand our business community.”
Chatsworth Products was established in 1991 and is an employee-owned manufacturing company with clients such as Dell, according to the Round Rock Chamber.
Kirby Killough contributed to this report.