"In both instances, the companies are initial forays into Austin and designed to incubate them as they develop their growth plans," John W. Childers, principal at Colliers Oxford Commercial Inc.'s Austin office, tells GlobeSt.com. And both newly signed corporations are planning to ramp up quickly, he reveals.
Mahindra has been working closely with the Austin Chamber of Commerce to establish the US inroad, which ultimately could employ up to 500 people. Childers says the US headquarters is just the beginning, with the Indian consulting firm eyeing other US cities for field offices.
Mahindra has set up shop in Walnut Creek in the city's northeast corridor. "It's a cost-efficient location," says Childers. "We really made a concerted effort to find the best situation without them over-committing themselves."
Mahindra is a wholly owned subsidiary of Mahindra Information Technology Services, which has its primary offices in Mumbai and Pune, India. It is India's first SAP integrated sales management channel and its home country's largest portal for buying and selling used vehicles. The Mahindra Web-based offerings also extend to steel, real estate and office supplies.
TUViT is a division of TUViT GMBH of Germany and Swiss IT AG testing in Switzerland. The corporation is a leader in IT security for corporate networks, such as financial institutions as well as Web-based site content. The Austin headquarters will house the IT Security Division for SecuNet, a major public German company, and initially will employ 10 people in administration and its test laboratory.
Childers says that right now it's somewhat unusual to close deals practically simultaneously with two international companies. "It will become more prevalent as time goes on," he says. "Austin is an import environment, but as we get more global . . . Austin will be more of an exporter as well."
The city's ability to attract international companies is, say some experts, the key to survival should a US recession play out. Childers, like others, attributes the trend to the city's educated labor force, quality of life and relative cost-effectiveness of doing business.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
