CEDAR PARK (KXAN) — From a two-car garage in Kerrville, Texas in 1954 to two headquarters in Central Texas in 2019, James Avery Artisan Jewelry is growing.
Last month, we reported that the jewelry giant was looking to build a second headquarters in Cedar Park. The city announced Friday they’d reached a deal with the company that was approved at Thursday’s City Council meeting.
Per the agreement, the new facility will add 102 jobs with average wages of $75,000 per year over a period of five years. The company will invest $13 million in capital expenditures that would include the construction of their 35,000 square feet office and land, building and other improvements.
The Cedar Park Economic Development Corporation, in turn, will invest $507,500 in the new location, payable over five years. The agreement is performance-based and has built-in protections for the city based on the company meeting its promises. Among assurances from the company, 65 jobs added in the first year with projected annual job growth of 10 employees per year.
The new site will be at the northeast corner of Highway 183A frontage road and Scottsdale Drive. Per the agreement, construction on the new building must be completed by July, 2021.
“Council also authorized a Chapter 380 agreement with James Avery, which will provide up to $18,000 in rollback taxes for the built-out property,” city officials wrote in a press release Friday.
James Avery CFO Paul Zipp said maintaining culture was an important factor in why they chose the major suburb north of Austin.
“We looked at not only the physical site, but the community we would be moving into – that the topographical aspects and the community culture would be familiar. We seek to maintain the company culture that we all enjoy in Kerrville and that Mr. Avery established over many decades,” Zipp said.