City leaders announced a plan Wednesday with credit card giant VISA to establish what is being called a “Global IT Center” in Austin.
The new center is expected to create nearly 800 jobs over the next five years, with average salary wages across all positions of $113,351 a year, the city said.
VISA was lured to Austin with a performance-based deal including $1.56 million in incentives over the next 10 years.
The global financial company would renovate a 175,000 square-foot vacant building in Northwest Austin with an estimated $27 million.
“It’s an exciting opportunity for Austin’s portfolio,” Kevin Johns, Director of Economic Growth and Redevelopment Services, said. “It would cover two of our cluster industry groups—both the IT part of it and the financial side.”
Austin’s City Council will discuss the proposal at their regularly scheduled meeting on December 6.