Travis County Commissioners Court approved an economic development agreement with National Instruments Corp. at its March 12 meeting.
The deal would offer NI grants equivalent of up to 43 percent of the company's property taxes over 10 years in exchange for meeting certain investment and job creation criteria.
The court approved the agreement 4-0, with Commissioner Margaret Gomez absent.
NI plans to create 1,000 jobs—35 percent of which would be filled locally—and build a 300,000-square-foot facility at 11500 N. MoPac for office space and research and development.
The company plans to invest $46.9 million in the research and development facility and $33.4 million in business personal property.
Leslie Browder, Travis County Planning and Budget Office executive, said Feb. 26 that the deal would have a $3.9 million net benefit to the county.
The deal comes on the heels of Austin City Council's March 7 agreement, which will give the company $1.7 million over the next 10 years for meeting criteria similar to the county's agreement. The State of Texas announced in February that it plans to contribute $4.4 million in economic development incentives through its Texas Enterprise Fund.
The 43 percent grant is comprised of: 25 percent for the company's $80 million investment, 15 percent for hiring the 1,000 new employees and 3 percent for meeting an eco-friendly construction standard. The average worker's salary would be $63,000. The median salary would be $55,667. Workers being paid the lowest 10 percent of all new salaries would earn $40,000.
Commissioner Sarah Eckhardt said she fully supported NI's application.
"While I am no lover of these sorts of deals, in this respect, National Instruments has come before us and met every single aspect of the economic development policy we put forward in November, including the $11 wage floor, the health benefits provision, as well as considering a [Leadership in Energy and Environmental Design] Silver [designation]..." she said.
She said NI has an exemplary record of supporting science, technology, engineering and math, collectively called STEM, programs for students in kindergarten through 12th grade as well as for undergraduates.
Commissioner Ron Davis said the county has made a tremendous stride toward a company that appears to do the right thing for the community.
"This particular company is embracing persons in the community that have been basically left out of the process, especially [by offering] the administrative and entry-level jobs where they can get a good start and a golden opportunity," he said.
He applauded the company for its entry-level job growth as well as its high-end additions.
Commissioner Gerald Daugherty thanked the company for being in the area and growing in Travis County.
NI designs tools, hardware and software for engineers and scientists. The company has been headquartered in Austin since 1976, and 2,550 of its 6,800 employees work in the city.
