AUSTIN (KXAN) - The Austin City Council on Thursday unanimously approved granting the credit card company Visa a $1.5 million incentive to establish a new information technology center in Northwest Austin.
The project is expected to create 800 new jobs with an average salary of over $110,000. The state has also promised Visa nearly $8 million in incentives.
Only one person spoke out tonight against the decision.
Last month, the city's Economic Growth and Redevelopment Services office presented a proposal to Austin City Council in a special meeting on Wednesday about incentives and benefits it suggests the city give VISA.
The global company is looking to locate an information technology center in Austin, which would bring nearly 800 jobs to the region.
Council members will conduct a public meeting about the suggested incentives on Dec. 6 before it takes a formal vote that night. Online public comments will be transmitted to City Council on Dec. 3.
Unde r the deal, Visa must also invest $18.7 million in property improvements, move into a building and open it as its proposed information technology center.
VISA is a 36-year-old payments technology company with headquarters in Foster City, Calif., with 18 locations in the U.S. and 70 in other countries.
In evaluating criteria about VISA, using a standard economic development matrix, the company scored 90 out of 100.
The VISA score was based on five criteria:
- Overall economic and fiscal impact
- Linkages to the local economy
- Infrastructure impact
- Character of jobs and labor force practices
- Quality of life and cultural vitality
Light snow flurries were reported early Saturday just north of the KXAN viewing area. Sub-freezing temperatures along with a slight chance of light snow, sleet and freezing rain will continue through Sunday morning.
Investigators are still trying to figure out who murdered an Austin teacher in Benghazi on Thursday.
Back in June, Governor Rick Perry signed a new law officially letting teachers and students use greetings such as "Merry Christmas" or "Happy Hannukah" in school, all without getting in any trouble.
The Round Rock-based computer giant, Dell Inc., is offering some workers voluntary buyouts as it seeks to trim costs and boost productivity.
The Austin Humane Society reopened to the public Friday after closing its doors for six weeks.
Sub-freezing temperatures and an approaching upper level disturbance could combine to produce some patchy freezing drizzle or sleet Saturday and early Sunday morning.