September 12, 2017 05:51 PM
(ABC 6 News) - The idea is simple... giving yourself an advantage is often the difference between winning and losing. And that's true on the playing field ... and on Main Street.
"It's really a marketing technique for us to be able to promote the community and go out and market it to prospective businesses," Austin city administrator Craig Clark told us.
It's something that nearly every community in America has in common ... they'd all like to see new businesses and new jobs. And now the city of Austin is getting a new tool that could help make it happen. It's called "Grow Austin".
"I think having a Grow Austin fund like this, it's easier to show them what we have to offer, that hopefully stands out a little bit from most communities,” said John Garry, director of the Development Corporation of Austin.
Businesses would receive incentives for creating jobs that pay at least 140 percent of the federal poverty level.
"The more that they pay in wages the higher incentive that we'll have” city administrator Craig Clark explained. “We start at the lowest level of 250-dollars a job and go up to 3-thousand dollars a job."
Participants could also receive a one percent rebate ... capped at 100-thousand dollars ... on capital improvements.
"So a business is going to have to make an investment of at least 250-thousand dollars," Craig Clark told us.
Austin utilities would offer per-job rebates:
"They've structured theirs based on load demand" Craig Clark explained.
The incentives will be available to local existing businesses as well as those that are new to the community.
"We want every business in Austin to have the opportunity to grow and we want to make sure we're helping support that,” the DCA’s John Garry said.
And since the "Grow Austin" incentives build on state incentives ...
"It adds another layer” city administrator Craig Clark said, “and another reason to grow their business in Austin and locate in Austin."
Created: September 12, 2017 05:51 PM
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