Where does your 2 cents go?
One cent goes to the City’s General Fund to help fund essential services such as Police, Fire, Parks and our Public Library.
A half cent goes to Community Development for local enhancement projects such as road and intersection improvements, parks improvements and even the Bell Boulevard Redevelopment Project.
Three-eighths of a cent goes to Economic Development to help recruit and retain more businesses as well as support our City-owned
One-eighth of a cent goes to the Stormwater Drainage program to prevent future flooding and protect our stormwater drainage infrastructure.
Economic Development Projects
Cedar Park gets business, thanks in great part to local sales tax. Your local dining and shopping helps us invest in Cedar Park as the next major job center of the region. Here are just a few of our major Economic Development projects over the years.
The City of Cedar Park-owned H-E-B Center opened as Cedar Park Center in 2009 with a $43 million Economic Development investment funded by local sales tax. It is now home to the Calder Cup-winning Texas Stars Hockey team (affiliates of the NHL Dallas Stars) and the NBA G-League Championship-winning Austin Spurs (affiliates of the NBA San Antonio Spurs basketball team). The multi-entertainment complex is host to several sold-out events throughout the year, ranging from major concerts to rodeo to ice skating performances. H-E-B Center provides an estimated 150 jobs with an estimated payroll of $4.5 million and estimated sales tax of $1 million annually.
James Avery Artisan Jewelry announced in June 2019 that it would bring its second headquarters to Cedar Park, thanks in part to Economic Development incentives from the City of Cedar Park. Under the performance-based agreements, they’ll add 102 jobs with average wages of $75,000 to the local economy, and invest $13 million in capital expenditures with construction of a 35,000 square foot office headquarters in Cedar Park, including land, building and other improvements. The Economic Development Corporation (Type A), funded by local sales tax, will invest $507,000, payable over five years, as well as fund a Chapter 380 agreement to provide up to $18,000 in rollback taxes for the built-out property that will be located at the northeast corner of the 183A Frontage Road and Scottsdale Drive.
Firefly Aerospace is a private aerospace company that moved its headquarters from California to Cedar Park in 2014, with the help of a $1.225 million Economic Development investment of economic incentives funded by local sales tax. Firefly Aerospace develops small and medium-sized launch vehicles for commercial launches to orbit.
Revenue Cycle Inc. moved into its new 30,000 square feet headquarters at Scottsdale Crossing in 2017, after an Economic Development investment of over $433,000 in economic incentives funded by local sales tax. Revenue Cycle employs more than 100 people and have an estimated annual payroll of more than $5.8 million.
Thanks in part to an Economic Development investment of $100,000 funded by local sales tax, Visual Lighting Technologies relocated their operations from California to Hur Industrial Park in Cedar Park where they purchased an existing 20,000 square foot building. They employ more than 30 people in Cedar Park.
Under an agreement in 2016, Swagelok completed its 30,000 square foot distribution/sales and service facility in Brushy Creek Corporate Park in 2018. Swagelok received $150,000 in Economic Development incentives funded by local sales tax. The project employs 25 people, has an annual payroll of $2.6 million and made a total $3.5 million capital investment in Cedar Park.
Under an Economic Development agreement that provided an investment of $580,000 in economic development incentives funded from local sales tax revenue, Innovative Funding Services completed its 30,000 square foot headquarters at La Jaita Business Park in 2018. The project employs 200 people with an estimated payroll of $12 million and made a capital investment of $5 million in Cedar Park.
ETS-Lindgren is one of Cedar Park’s major tech employers. The company tests electronic devices to ensure that the electromagnetic, magnetic or acoustic energy that these items can create, use or be affected by, work harmoniously in the same environment. Over the years the company has been incentivized to grow and expand with Economic Development investments of $474,000 in economic incentives funded by sales tax. In return, ETS-Lindgren now employs more than 70 people with an estimated payroll of more than $2.7 million, and has made more than $14 million of capital investments in Cedar Park.
The corporation 15Five has been building a 20,000 square foot headquarters in two phases along Medical Parkway in Cedar Park. It’s thanks in part to an Economic Development investment of more than $140,000 in incentives funded by local sales tax. The first phase was finished in 2018. Upon full completion the company will employ more than 100 people, with an estimated payroll of $12 million and a capital investment of more than $2.5 million in Cedar Park.
1890 Ranch was Cedar Park’s first major shopping and family entertainment complex anchored by nationally-known retailers including SuperTarget, Cinemark Theaters, Academy, Office Depot, Ross and Hobby Lobby – just to name a few. It also brought some popular fast dining options to Cedar Park such as Longhorn Steakhouse, Logan’s Roadhouse, Chick Fil-A, and Carl’s Jr. 1890 Ranch was funded by an Economic Development investment of $26,000 in project incentives with a $20 million Chapter 380 agreement – all funded by local sales tax. The project is estimated to have resulted in 1600 local jobs with an estimated payroll of more than $40 million, a capital investment of $125 million. It is estimated to bring in more than $3 million annually in sales tax revenue.
The Parke retail development is located along the west side of 183A and Whitestone Boulevard. It features many nationally-known stores and restaurants including Whole Foods Market, DSW, Dick’s/Field and Stream, Nordstrom Rack, Petco, Tuesday Morning, Marshall’s, Michael’s, Chuy’s, Jason’s Deli and much more. The Park has a Chapter 380 agreement of $2 million, funded by Economic Development (Type A) from local sales tax. In turn, it has produced more than 750 jobs with an estimated payroll of $22.5 million and made an $82 million capital investment in Cedar Park. It brings in an estimated $2 million in local sales tax revenue annually.
The Costco-Town Center development brought destination retail to Cedar Park. In addition to high-end warehouse store Costco, the development includes renowned California burger joint In-n-Out. The development has a Chapter 380 agreement for $6 million, funded by Economic Development (Type A) from local sales tax revenue. The project has provided 600 local jobs with annual payroll estimated to be $14 million and made a $50 million capital investment here. It is estimated to bring in more than $1.23 million in sales tax revenue each year.
Voltbox is a German company that designs and manufactures batteries used for transit rail. Voltabox received infrastructure funding of $147,908 funded by Economic Development (Type A) that results from local sales tax. In return it provided 35 local job with an estimated payroll of $1.75 million and a capital investment of $10 million in Cedar Park.