Tagged: texas enterprise fund

Three bills related to Gov. Rick Perry are getting a vetting today.

The Texas Senate is set to hear two bills scrutinizing the use of money from the Texas Enterprise Fund. The Texas Enterprise Fund is Perry’s economic development program that gives taxpayer money to private business. Some Austin recipients include Apple and Visa.

A bill offering incentives to attract manufacturers of guns, ammo and related hardware to Texas will go to the full Senate for a vote.

SB 1467 would offer tax breakers to firearms makers at a time when other states may shy away from sponsoring the industry and the bill’s author, Senator Craig Estes of Wichita Falls, calls laws that limit firearms manufacturing “unwarranted intrusions.”

The Austin City Council unanimously approved a deal that offers the Visa credit card company about $1.5 million to bring almost 800 jobs to the area.

The city’s received some criticism for offering big companies these incentives. A council committee has been talking about adding a provision that would require companies seeking incentives to meet a minimum wage requirement of $11 an hour. While Visa doesn’t have to meet those requirements, yesterday they offered to anyway.

Credit card company Visa says it will build a new IT center in Austin, bringing almost 800 jobs to the area within five years.

Texas Governor Rick Perry announced the project this afternoon.

Perry is using $7.9 million dollars from the Texas Enterprise Fund to entice Visa to Austin.

The city will kick in about $1.5 million over 10 years, according to a memo released by the city's Economic Growth and Redevelopment Services Office.

Travis County Commissioners voted four to one this morning in favor of providing economic incentives to HID Global. The company makes ID cards and key-card readers.

HID Global is looking at building a manufacturing and distribution center in Northeast Austin. It would create more than 270 jobs over 10 years. In return, the county would give the company at least a 40 percent discount on county taxes over that time.

County Commissioner Ron Davis represents the area including Northeast Austin.

“I just think it’s overall a big deal all across the community and I think it’s a win, win, win, win, win, win-type situation for all of us," said Davis. 

Traffic is now clearing up around Stassney Lane and Manchaca Road after a gas leak at the intersection this morning. Schools in the area started on time. Here's a roundup of other news this morning:

More HID Global Incentives?

Travis County Commissioners will meet in executive session today to talk about whether the county will offer economic incentives to a company that’s considering relocating to the area.

The State of Texas is already offering HID Global $1.9 million from the Texas Enterprise Fund. And the City of Austin is considering offering the company close to a million dollars in rebates on taxes for real estate and equipment purchases. The city plans to hold a public hearing on the issue Sept. 27.

In return, HID Global would build a manufacturing and distribution center in Northeast Austin, and create 276 jobs over 10 years. HID Global makes products like ID cards and key-card readers.

Problems in Texas County Prisons

Today Texas lawmakers will take a look at problems facing county jails.