State approves Cedar Park Regional Medical Center as Texas Enterprise Zone

Gov. Greg Abbott's Economic Development and Tourism office approved Cedar Park Regional Medical Center as a Texas Enterprise Zone to increase employment, economic activity and stability in Cedar Park, according to a May 14 release.

The city of Cedar Park nominated the medical center, and City Council approved the nomination Feb. 13 for the Texas Enterprise Zone Program, which “encourages private investment and job creation in economically distressed areas of the state,” according to the state program.

Approved companies are eligible for refunds of state sales and use tax during the designated period on qualifying expenditures, according to the state program. Municipalities, such as Cedar Park, can nominate zones or projects for the program.

The total state investment will be about $13 million, said Laura Balla, the medical center's director of marketing.

The medical center will hold this designation until March 3, 2025, Balla said.

The program requires 35% of the medical center’s new employees to be enterprise zone residents, economically disadvantaged people or veterans, according to the release.

Bo Beaudry, the medical center’s CEO, said in the release that the Texas Enterprise Zone designation will allow for new health care services and position development.

The medical center was previously noted as a Texas Enterprise Zone in June 2012 through June 2017, according to the state.