National Instruments Corp. is considering adding 1,000 jobs to its Austin headquarters over the next 10 years and an $80 million investment to the Texas capital. The engineering toolmaker plans to expand its research and development by building a new $47 million facility and investing $33 million in business equipment, reports the Austin Business Journal.
In exchange, the company could get $1.7 million in performance-based city tax breaks if the Austin City Council approves a deal. If approved, the state will provide $4.4 million through the Texas Enterprise Fund. The average annual salary for the new positions is $72,223, according to its incentives application with the city and as reported by the Austin American-Statesman.
According to documents released by the city of Austin, the deal could generate a net benefit of $7.6 million, including the incentive. For the moment, the company is also considering another option for this deal outside the U.S. in Penang, Malaysia, reports the local publication.
If the company chooses Austin, plans call for a 300,000-square-foot facility on 8.5 acres adjacent to its North Austin headquarters off Mopac Expressway. Construction on the new facility is expected to start on July 1.
National Instruments is an important employer in Austin, currently staffing about 2,273 in the city. Additionally, it works with 3,500 Central Texas students each year. The Austin City Council is scheduled to be briefed on the project Feb. 28 and vote on the incentives offer March 7.
National Instruments campus in Austin, courtesy of Wikipedia.org
For more news from Austin, click here.