AUSTIN, TX—National Instruments, a company that designs tools, hardware and software for engineers and scientists, told county officials Tuesday that it plans to spend more than $80 million for property improvements, and among that will be the construction of a 300,000-square-foot facility for office space and research and development.
Noting that it would create 1,000 jobs, and offer a $3.9 million net benefit to Travis County over 10 years, county planners have begun working with the company on an incentive package, according to a report in Community Impact newspaper.
The company plans to invest $46.9 million in the research and development facility and $33.4 million in business personal property. An economic development agreement would have a
National Instruments intends to meet the county's incentives criteria without exemptions; the company plans to offer a comprehensive benefits package and an $11 wage floor for construction workers, among other considerations.
In exchange for meeting the county's criteria, the county would allow economic grants for up to 43 percent—a 40 percent base rebate plus 3 percent for meeting an eco-friendly construction standard— of the property taxes generated from the project.
National Instruments designs tools, hardware and software for engineers and scientists. The company has been headquartered in Austin since 1976, and 2,440 of its 6,800 employees work in Austin.
Click Community Impact to read the full story.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
