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Cedar Park City Council approved an economic development deal June 25 with construction materials company Texas Materials centered around a $2 million grant and a rebate of sales tax revenue generated by the company.
The framework: Under the agreement, the company will establish a new regional headquarters at the Town Center Office Park, located northeast of the intersection of Bell Boulevard and Whitestone Boulevard, Chief Economic Development Officer Arthur Jackson said. The company will receive the grant from the city in exchange for establishing and occupying its new headquarters by May 21, 2028.
The agreement provides the company a sales tax revenue rebate of 100% for the first two years, and an amount gradually decreasing to 75% over the first 10 years. Provided Texas Materials meets the requirements laid out in the agreement for the first 10 years, the sales tax rebate will be extended another 10 years.
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