Commissioners approve Charles Schwab incentives

Travis County Commissioners discuss $8.5M incentive deal to bring Charles Schwab jobs to Austin (Natalie Hee/KXAN)
Travis County Commissioners discuss $8.5M incentive deal to bring Charles Schwab jobs to Austin (Natalie Hee/KXAN)

AUSTIN (KXAN) — A plan that would bring more than 800 well-paying jobs to Austin is a step closer to reality after the Travis County Commissioner’s Court approved an incentive deal used to lure the company to Austin.

The plan to brings the jobs was contingent on the commissioners approving an $3.3 million incentive package. Commissioners voted 3 to 1 to approve the plan.

Several residents spoke against the incentives saying companies should pay their fair share in taxes too. One resident pointed out her property taxes continue to go up while the commissioners are granting tax breaks to corporations.

“Homeowners aren’t the only taxpayers. Renters make up 55% of Austin’s population and we don’t just feel the burden of those rising prices every year. We see it every month,” said Monica Guzman, candidate for Austin City Council.

The jobs were announced July 24 when the company said it would be making investments in Austin and El Paso as part of a Texas Enterprise Fund grant.

Charles Schwab already employs more than 900 people in Austin. This deal will expand its offices by building a new location on Gracy Farms in North Austin- right next to the IBM campus.

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