The details
The new headquarters will house engineering, advanced manufacturing, research and development, and operations roles. It is expected to create 20 jobs in the first year of operation, more than 130 by the third year and approximately 400 by the fifth year, according to Perseus Defense officials.
The average annual salary is projected to reach $120,000, which is more than 126% above Hays County’s median wage, according to Buda Economic Development Corp. officials.
“Buda is the ideal location for our next stage of growth,” Jason Cornelius, co-founder and CEO of Perseus Defense, said in a news release. “The region’s strong workforce, proximity to major defense partners, and flourishing community of defense startups provide the right environment for us to scale our technology and mission."
Zooming in
The Buda EDC and Buda City Council approved a performance-based incentive agreement, which features:
- Up-front support for permit fees and incentives to assist with headquarters build-out up to $200,000
- Incentive offering up to $1,800 per new job paying more than $120,000 annually (minimum of 20 qualifying jobs per year one, a minimum of 40 per year two and a minimum of 70 by year three)
Per the performance-based agreement, Perseus Defense—which is working closely with the U.S. Department of War, the Department of Homeland Security and a variety of Army research groups—is required to maintain its Buda headquarters for a minimum of five years, according to Buda EDC officials.
Notable quote
“Our team is deeply grateful to the Buda EDC and the great state of Texas for helping us secure the ideal home to ramp up production and accelerate this technology in support of our troops,” Cornelius said in the release.
