Visa to Bring 800 Jobs to Austin
Posted by Regent Property Group on Wednesday, December 5th, 2012 at 4:48pm. 484 Views
Visa U.S.A. Inc. recently announced it will build a new global IT center in Austin, creating 794 new, well-paying jobs and adding millions in capital investment to this tech-talent city. The jobs are projected to be created within five years, with an average annual wage of over $100,000.
“Visa's decision to build a new global IT center in Austin is a great fit with our skilled workforce and Central Texas' reputation as a hub for high tech companies,” said Governor Rick Perry when announcing the news from downtown Austin.
Visa, the world’s most used credit card provider, is a global payments technology company that connects consumers, businesses, banks, and governments in more than 200 countries and territories. Visa expects to locate its center in a commercial real estate property in Northwest Austin.
In exchange for Visa's commitment to create these new jobs in Texas, the state has preliminarily offered the company $7.9 million through the Texas Enterprise Fund. The Legislature created the TEF in 2003 and has re-appropriated funding in every legislative session since then to help ensure the growth of Texas businesses and create more jobs throughout the state. TEF projects must be approved by the governor, lieutenant governor, and speaker of the House. The fund has since become one of the state's most competitive tools to recruit and bolster business. To date, the TEF has invested more than $472 million and closed the deal on projects generating more than 63,900 new jobs and more than $22.6 billion in capital investment in the state.
"Here in Texas, our commitment to low taxes, reasonable regulations, fair courts, and equipping a skilled workforce have kept our state at the forefront of job creation. Texas is competing nationally and internationally for jobs, and we want companies who are looking to expand or relocate to consider the Lone Star State first and all we have to offer,” said Perry.
Visa spokesperson Will Valentine remarked, "Visa is continually looking for opportunities to add world-class talent to our organization. Austin offers a vibrant technology community and business-friendly climate, and we are working closely with local officials to finalize an agreement."
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