Incentives deal for VISA unanimously approved by council
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VISA has the green light from Austin to bring nearly 800 jobs to town.
Austin City Council unanimously passed an economic incentive package for the financial services giant, offering VISA $250 for every job it creates and holds over the next 10 years—up to $1.5 million.
The local deal with Austin opens up $7.9 million from the Texas Enterprise Fund for VISA
If accepted, VISA would spend an estimated $27 million to repurpose a vacant 175,000 square-foot building near U.S. 183 and McNeil Drive. The new facility would serve as VISA’s global IT headquarters.
If the deal is approved Visa will have at least 185 people on the job by the end of next year.
Average pay for the jobs at the facility is estimated to be about $113,000 per year.
VISA must employ 841 people by the end of 2017 to receive all the proposed incentives.