Economic Development -Travis County Financial Transparency Portal

Economic Development

Travis County, under the authority issued under Chapter 381 of the Local Government Code , has the ability to provide incentives encouraging developers to build in their jurisdictions. A county may administer and develop a program to make loans and grants of public money to promote state or local economic development and to stimulate, encouraging businesses to locate in Travis County. The county may also develop and administer a program for entering into a tax abatement or rebate agreement. This tool allows counties to negotiate directly with developers and businesses.

As a result of this authority, Travis County developed the Chapter 28, Travis County Economic Development Program , to incentivize and encourage economic development in the county.

Of note, Travis County is temporarily not accepting applications for economic incentives while staff draft updates to the policy which will be linked to the strategies outlined in the County’s new Comprehensive Economic Development Strategy . For more information about the program, visit the County’s Economic Development page.

Current Rebate/Abatement Summary Data
As of Fiscal Year: 2022

To date, Travis County has entered into 10 Economic Incentive Agreements, of which there are 3 agreements with activity in this fiscal year.

Of the 3 agreements with activity in this fiscal year, there is/are 0 new agreement(s), which total $0 in estimated taxes rebated/abated over the life of the agreement and $0 estimated taxes rebated/abated in the first year.

Due to the nature of the economic development agreement and the variable factors that contribute to the calculation of the final rebate, it is not possible to provide an accurate estimate of the total rebate amount prior to completion of a full compliance review. As a result, we have estimated this rebate at $0, but this should not be construed to mean that the County does not plan to provide a rebate, pending verification of compliance.

This summary data provides a snapshot of the total active agreements through the latest fiscal year.

*The Total Amount Rebated is the actual amount and does not include estimates (if applicable) from above.

Total Active Agreements

Total active agreements through current reporting period.

$88,219,875

Total Amount Rebated

Total amount abated/rebated to date for active agreements.

12,807

Total Jobs Created to Date

Total number of jobs created by companies with active agreements to date.

$6,035,830,389

Total Capital Investments To Date

Total capital investment made by companies with active agreements to date.

Historical Data

The data outlined in the chart below demonstrates the total tax rebates or abatements, as well as the total number of active agreements by year for the last five completed fiscal years.

Abatement and Rebate Agreements Overview
As of Fiscal Year: 2022

The table below provides more detail about each of the agreements. As you view the data below and the Agreements themselves, please be mindful of these

Export

Table highlighting summary detail regarding economic development agreements. Each row represents one company. In the final column of each row, users can download a pdf of the full agreement.
Company	Start Date	End Date	Type	Total Abated/ Rebated	Total Jobs Created	Total Capital Investment	Project Summary
Samsung	01-01-2008	12-31-2027	Rebate	$74,684,638	3,498	$4,688,496,480	The company intends to construct a new semiconductor wafer manufactory factory to be located at 12,100 Samsung Blvd, Austin, Texas, 78753, such new facility to be located in the Reinvestment Zone. The investment by Company is estimated to be approximately $3.5 billion.
Simon Properties (Domain)	01-16-2006	12-31-2026	Rebate	$5,566,390	1,077	$369,611,821	The company intends to develop a mixed-use project containing residential and non-residential uses approximately 42 to 55 acres of land out of an area more particularly described in Attachement B.
Apple	05-01-2012	12-31-2030	Rebate	$6,096,481	5,589	$480,278,324	The Company intends to develop a new Americas Operations Center (“Americas Operations Center,” or “Center”), with up to 200,000 square feet in Phase I and up to 800,000 square feet in Phase 11, to be located at West Parmer Lane and Delcour Drive in Austin, Texas, which will contribute to the general economy of Travis County, Texas; make significant capital investments, thus increasing the tax base for Travis County; and create new full time jobs which will benefit the job force of Travis County. The investment by the Company is estimated to be approximately $282,500,000.
HID Global	10-01-2012	12-31-2025	Rebate	$260,673	436	$61,035,443	The Company intends to develop a new manufacturing and distribution operations center, with approximately 200,000 square feet or more, to be located at 601 Center Ridge Drive in the TechRidge Development in Austin, Texas, which will contribute to the general economy of Travis County, make significant capital investments, thus increasing the tax base for Travis County; and create new full time jobs, which will benefit the job force of Travis County. The investment by the Company is estimated to be approximately $36,000,000.
FRV AE Solar	01-01-2012	12-31-2032	Rebate	$1,179,607	3	$140,000,000	Company intends to construct a new 30 Megawatt Solar Farm which would generate clean renewable energy in approximately 380 acres of land to be located at 18580 FM 969, Manor, Texas, 78653, in an area more particularly described in Attachment B to the agreement. The investment by the Company is estimated to be approximately $100 million during the time period set forth in this Agreement.
Charles Schwab	08-14-2014	12-31-2027	Rebate	$432,086	2,199	$183,408,321	The Company intends to expand its facilities in Travis County, Texas to enhance the Company's ability to provide a full range of securities brokerage, banking, money management and financial advisory services. The new facilities include approximately 250,000-300,000 square feet or more of operating space, and will be located on approximately 50 acres located at 2309 Gracy Farms, Austin, Texas (within the City of Austin's Desired Development Zone). The expanded business will contribute to the general economy of Travis County, Texas; make significant capital investments, thus increasing the tax base for Travis County; and create new full-time jobs, which will benefit the job force of Travis County. The investment by the Company is estimated to be approximately $196,711,000.
East Blackland Solar Project	01-01-2012	12-31-2032	Rebate		5	$113,000,000	Company intends to construct a new 120-Megawatt Solar Farm (“Facility”) which would generate clean renewable energy to be located at approximately the intersection of Manda Carlson and Felder Road in an area more particularly described in Attachment B to this Agreement (“Property”), on approximately 730 acres of land. In addition, Company will also establish headquarters in Travis County. The investment by Company is estimated to be approximately $110 million during the time period set forth in this Agreement.
Hewlett Packard	01-01-2008	12-31-2017	Abatement	$3,782,530	500	$500,000,000	Company intends to develop a Hewlett Packard Data Center facility to be located at 14,219 Tandem Boulevard, Austin, Texas 78753, which would receive, store, process and evaluate scientific and research information and data, hardware and software development operations and business transactions and records for Company, such facility to be located on Lots Four (4) and Five (5), Block “A,” Wells Branch Phase “A,” Section five (5), a subdivision in Travis County, Texas, according to the map or plat thereof recorded in Book 81, Pages 395-398, of the Plat Records of Travis County, Texas; and Lot Two (2) of Wells Branch Phase A, Section five A, a subdivision in Travis County, Texas, according to the map or plat thereof recorded in Book 82, Pages 231-232, of the Plat Records of Travis County, Texas, collectively, hereinafter referred to as “Property.” The investment by Company in the Project that is the subject of this Agreement is estimated to be approximately S250,000,000.00.
Home Depot	09-30-2004	12-31-2015	Abatement	$1,897,566	140	$959,263,359	Company intends to develop a Home Depot Data Center facility to be located at 1300 Park Center Drive, Austin, Texas 78753, which would handle transactions and business records from throughout the country for Company, such facility to be located in an area more particularly described in Attachment B to this Agreement, and hereinafter referred to as “Property; the investment by Company is estimated to be approximately $400,000,000.00.
Tesla	07-15-2020	12-31-2041	Rebate				Company intends to build new facilities in Travis County, Texas to enhance the Company's ability to provide a full range of manufacturing: vehicles, vehicle parts, electric batteries, solar panels, and other products that use or produce sustainable energy. The Company’s initial investment in new construction and business personal property is estimated to be approximately $1,092,609,500 over 5 years and this Agreement may be amended to provide for additional investments in Eligible Property.

Monitoring Performance

Travis County Economic Development staff monitor performance annually.The graphic below outlines the schedule for tracking performance.

outline of the annual compliance review process

Compliance Review Outline

January 1 - March 30: Review Agreements to prepare for review of upcoming Performance Year requirements as specified in the Agreements
March 31 - April 30: Annual Reports due from Companies (March 31) as specified in the Agreements.
May 1 - August 15: Meet with Companies to review submitted documentation and conduct an audit of documentation.
August 15 - October 1: Review all documents to determine final compliance with Agreement terms.
October 1 - October 31: If Companies achieved compliance for the Performance Year specified in the Agreements, County rebate payment is due to Companies by October 31.
November 1 - December 31: Transparency Portal is updated with data for the Payment Year.

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