Two local businesses won more than $700,000 in combined support from the city this fall, the first such awards to take place under Austin's recently revised economic development incentive program.

The overview

City Council approved two local incentive deals under Austin's local Chapter 380 economic development framework Nov. 20. The awards included:“Austin is home to incredible talent, creativity and entrepreneurship,” Anthony Segura, Austin Economic Development's interim director, said in a statement. “These are cherished local businesses with strong roots in Austin, and we are proud to encourage community-oriented policies that combine economic growth and tourism with prosperity for our legacy businesses and creative spaces.”

Zooming in

Balance Dance Studios is planning a multimillion-dollar expansion of its current location at 4544 S. Lamar Blvd., Austin. The 33,000-square-foot Austin Performing Arts Center and Training Complex, or APAX, will feature a new theater, green rooms, and multipurpose event and performance spaces.


The $10.52 million project will support more than two dozen current and new jobs while increasing the local capacity for events year-round, city staff reported. It's also expected to net Austin more than $2.2 million in economic benefits, after accounting for the more than half-million dollar incentive.

"It will serve as a vital cultural hub and flexible civic resource, supporting families, small businesses, freelancers, and the great creative community across Central Texas," staff wrote in the city's project review.

The APAX expansion earned 73 out of 75 required points and 15 of 50 optional bonus points in Austin's incentive review. The studio's full economic agreement with the city can be viewed here.
Balance Dance Studios is expanding with a new performance space off South Lamar Boulevard. (Courtesy city of Austin)
Balance Dance Studios is expanding with a new performance space off South Lamar Boulevard. (Courtesy city of Austin)
After 25 years downtown, The Hideout is planning a move from its longtime home at 617 Congress Ave., Austin. The city incentive package was approved to help relocate and re-establish the legacy business by supporting the finish-out of a new performance space, coffeeshop and classrooms in the Art Hub center at 2801 S. I-35, Austin.

"Recent changes in property ownership have forced the business to relocate in a 9-month timeframe," city staff reported. "High real estate and construction costs, including property taxes and permitting fees, make the site renovations for this project infeasible without incentive support."


The Hideout's more than $700,000 relocation is expected to support nine jobs and net the city almost $1.5 million over the 10-year term of the economic deal. The project also earned 73 of 75 required points plus 20 of 50 bonus points in the city's evaluation, and the business's full economic agreement can be viewed here.